Almost 300 Complaints Filed With FTC About Bitcoin Mining Hardware Manufacturer
News publication Ars Technica has an interesting report out this morning regarding a well-known bitcoin mining hardware manufacturer. In a response to a Freedom of Information Act request submitted by Ars, we're learning that almost 300 complaints have been filed with the Federal Trade Commission (FTC) regarding Kansas-based Butterfly Labs in the past 18 months. Complaints come from here in the United States, Canada, all the way to Estonia and Argentina. The common complaint? They say their orders were never completed or refund requests were flat-out denied or just never dealt with. Writes....
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Bitfury, the non-Chinese bitcoin mining hardware manufacturer, is reportedly planning to go public in the next 12 months. This would constitute one of the largest listings of a European-based cryptocurrency mining hardware company to date. The company had a valuation of $1 billion dollars after its latest funding round, and is backed by companies like Mike Novogratz’s Galaxy Digital.
Bitfury Going Public in European Markets
Bitfury, a cryptocurrency mining hardware manufacturer in Europe, is reportedly planning to go public in European markets. The company, which....
"I feel like I [was] cheated." The statement is just an excerpt from one of the 39 formal complaints filed with the US Federal Trade Commission (FTC) against now-bankrupt bitcoin mining company CoinTerra and revealed in a new Freedom of Information Act (FOIA) request. The 39 complaints are a far cry from nearly 300 complaints lodged against competitor Butterfly Labs before it was temporarily shut down by the FTC in September. However, the complaints paint a detailed picture of the frustrations long faced by CoinTerra customers. The full complaints, which were received with personal....
New data shows American consumers filed a total of just seven complaints with the US Consumer Financial Protection Bureau (CFPB) in 2016. The CFPB was created in the wake of the financial crisis of the late 2000s as part of a bid to more closely scrutinize financial products and services in the US. The agency began accepting complaints related to digital currencies in August 2014. Now, student loan marketplace LendEDU has scraped data from the CFPB's public complaints database, finding that, of the nearly 190,000 complaints filed over the course of 2016, only seven of them related to....
Bitcoin mining hardware producer CoinTerra has moved to reassure customers after it emerged a number of complaints about the company have been lodged with the Better Business Bureau (BBB). Some 11 complaints relating to CoinTerra have been closed with the BBB in the last 12 months. Two of these related to advertising and sales issues, one related to guarantee and warranty issues and eight related to problems with the company's products or service. The BBB is a private entity, not a government agency, which aims to improve trust between consumers and businesses. Complaints are closed when....
The US Federal Trade Commission (FTC) has announced that bitcoin mining hardware company Butterfly Labs and two of its operators have agreed to settle charges that pointed to the company deceiving customers. The FTC revealed today that bitcoin mining hardware manufacturer Butterfly Labs and two of its operators: part-owner and vice president of product development, Sonny Vleisides and general manager, Darla Drake have settled charges filed against the company. Under the terms of the settlement, Butterfly Labs must pay the FTC $38,615,161, according to the judgement ordered against the....