License files are encrypted using industry proven algorithms, and with the encryption keyed with a passphrase. The passphrase used when encoding files must match the passphrase used to generate the corresponding license file in order for the Loader to successfully decrypt the license file when the script is executed.
In Maian Cube, the passphrase value MUST match the passphrase you have entered on the "Restrictions" tab of the ionCube GUI. It is recommended that passphrases be unique for each product.
IonCube Command Line Reference:
--passphrase