Coin-mining-farm: Scam Happend, Users lost money
Updated: Jul 2
On February 7, I released a review on the Coin-Mining-Farm cloud mining scam service. At the moment, we can already speak with great confidence about the termination of the project.
If you have not read the review - it is here.
UPD 1 Apr, 2021: Warning! СMF launched their second scam project! Stay away from it!
What was wrong?
When analyzing the service, I realized that:
they did not care at all about changes in the difficulty of the network, they offered mining in fixed amounts.
in addition, the site had many offers for free hashpower: you could activate 1 TH/s for 30 days for free and go to the site every 2-4 hours to manually activate another 1-2 TH/s. Thus, clients without investment could mine with a hashpower of 2-3 TH/s free. And there were tens, if not hundreds of thousands of such clients.
The contract for mining 10 TH/s for a period of 90 days cost $ 99. For example, on BitFuFu, a legal cloud mining service supported by BitMain, such a contract now costs about $ 295.
Do you see the difference?
Website became unavailable on March 16
The situation here is quite confusing. Most likely, they were simply blocked by their domain registrar on suspicion of fraud. I managed to access the site several times under different VPNs, from different devices. Users on the Trustpilot website write that sometimes you can get to the site, that everything is fine.
On March 17, I managed to get to the site and even put my 0.004 BTC on withdrawal, which they managed to "mine". Only now, 36 hours have passed and I have not received the BTC. And I won't.
I bought a contract for 10 TH/s to make it easier to follow the site, I realized that most likely I would not get them back, but this is my job.
Why won't users receive money anymore?
Since the ponzi-scheme is initially fraudulent and does not conduct any real mining, it depends only on the Deposit/Withdrawal money indicator.
At the moment, most of the users are scared and the first thing they will do, even if the site is restored, is to put their BTC on withdrawal from the balance.
After such an incident with the unavailability of the website, the influx of new users will decrease, new money will not come, but withdrawals will flow like a river.
Of course, the owners of the scam project will not allow withdrawals and will keep all the money for themselves.
Unfortunately, shit happens.
This month, two cloud mining services were closed - Coinminingfarm and Scryptcube.
But, ScryptCube was an absolutely legal service that I was happy to advertise and work with. After their substation burned down and they realized that they would not be able to continue real mining, they returned money to their users for all purchases: someone on credit cards, someone on Payeer, someone returned the invested BTC.
This is the difference between the services that I offer. I analyze them first.
Yes, I have mining contracts at Hashing24, but they are unprofitable and the only thing I make money on there is trading in the Trading Room. Therefore, in my analysis of Hashing24, I say "Cloudmininginfo does not recommend buying such contracts."
Now I only have contracts in cloud mining BitFuFu. Compared to even Scryptcube, this company is 10 times more legal, because it is a partner of the large mining giant BitMain. In addition, each contract that users buy has its own f2pool identifier and you can follow its work. Not like at Coinminingfarm - they just showed you a GIF, ha-ha.
In general, stay on my site, follow the news from the world of cloud mining.
Now that the work on the Scryptcube has become less, I will return to the reviews of various services again and find something else interesting. In the meantime, BitFuFu is my choice.