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Victory: X is a part of the enemy's printed text box. If you cast Mind Wipe on an enemy with victory points, and defeat that enemy, it will go into the discard pile, not into your victory display.
- Q: Does Mind Wipe blank the damage and horror icons of an enemy? A: Damage and horror icons are not part of the enemy’s text box, so they are not blanked by Mind Wipe.
Spell.
Fast. Play after a phase begins.
Choose a non-Elite enemy at your location. Treat the chosen enemy's printed text box as if it were blank (except for Traits) until the end of the phase.

- Mind Wipe (3) Return to the Night of the Zealot #8
With Undimensioned and Unseen, we might have seen the first real target for Mind Wipe. And man is it a big one. Spoilers ahead:
Taking down a Brood of Yog-Sothoth is no easy task. First, you need to find the Esoteric Formula before you can even attack it. Then, you are faced with making a combat check against 6 to damage it - made easier by clues you can put on it, but 6 is nevertheless the highest combat we've seen on an enemy thus far. Even if you succeed, you only deal one damage to it, whereas it has 2-5 health depending on how many investigators you are playing with.
Or, you can skip all that and play Mind Wipe. Better yet, since you are probably playing Agnes Baker anyway and have Forbidden Knowledge, immediately follow up with taking 1 horror using Forbidden Knowledge and kill a house sized invisible monstrosity without breaking a sweat.
Oh, but you don't get its Victory I. But I think that's a fair price to pay for the amount of effort you save.
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This card seems really useful in forgotten age, as it removes "Vengeance X" from non-elite Monsters plus some other terrifying effects they have (retaliate, alert,...)
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However with more players, there's a chance such a card is drawn again after shuffling the encounter deck
- As a spell, it can also be searched with Arcane Initiate
Somehow I do not see any scenario with use for this core card unfortunately :( There are always MUCH more better cards for mystic. Do you use this card in your decks? When and for which monsters is it helpful?