Bitcoin SCAM ALERT: Chabat Mining Cloudmining Service Unexpectedly Goes Dark
In yet another case of suspicious cloudmining scandal, it looks like Chabat Mining is down for the count with no signal or sign of life. Additionally, it seems as though they aren't paying out to those that held contracts on their site who can no longer access the web page. When visiting their page, users are greeted with a 403 Forbidden error. There is no message stating there are problems. There is no notification to users with active mining contracts. There is only a message without any consolation. Chabat Mining hasn't been paying out for an extended period according to concerned users....
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When it comes to engaging in Bitcoin cloudmining, there has been a lot of hype but little entry-level information generated for the average user. As the concept of mining Bitcoin becomes more and more well-known as a concept, many more consumers are looking into the idea. However, with difficulty at its current level, the expense associated with hardware purchasing, as well as the mining process itself, is off-putting, and so cloudmining is becoming the natural choice for many new parties today. The infrastructure surrounding mining, especially hardware manufacturers and mining pool....
A reader wrote in to CCN, concerned about what is an obvious scam to a veteran Bitcoiner, but might actually rope new folks in with ease. The concerned reader wrote: Basically they are building a pyramid scheme (sorry, I mean binary member system), where you can buy in and get some hashing power from their cloud mining service. Also they claim, that they will release a new cryptocurrency (S-Coin), which only they will be mining. More absurdly - when the coin comes out, they claim that it will have a value of 1€ and after some time even more. Also the rewards for members are extravagant....
The Federal Bureau of Investigation (FBI) has warned crypto investors about a scam using an investment strategy called liquidity mining. “This scam has been responsible for over $70 million in combined victim losses,” said the law enforcement agency.
FBI Warns of Crypto Liquidity Mining Scam
The Federal Bureau of Investigation (FBI) issued an investor alert Thursday warning crypto owners of a scam targeting them. The law enforcement agency announced:
The FBI is issuing this public service announcement to warn American citizens about a cryptocurrency scam....
CoinTelegraph concludes its review of a selection of the most popular cloudmining providers with the all-important overview of just how much money is involved for potential users. Cloudmining needs to be suitably profitable for customers, as well as offer flexibility when it comes to harnessing and spending or reinvesting those profits. With this in mind, we check out the costs to the consumer for each of our cloudmining providers, and see how easy it is to get your hands on your precious coins fresh from the ether. (Please note that due to currently experiencing difficulties,....
Cloudhashing or Cloudmining, the process of paying someone else to mine BTC for you, has been popular since the rise of CEX.io's Ghash service. Numerous alternatives have risen to compete with Ghash such as Hashie and LTCGear. Many cloud mining sites have been revealed as poorly designed ponzi schemes over the last year, as anticipated by Gavin Andresen. It seems we might be seeing more now. Update: LTCGear's website is back online, though no payouts have been received. Also read: Gavin Andresen Suspects Ponzi Schemes in Bitcoin Cloud Mining. Hashie Playing Games? While literally no....