Crypto Scam: Virtual mining

The essence of this fraudulent scheme is as follows: Scammers offer miners to rent capacity in their data centers instead. The benefit to a miner (especially a beginner) is obvious: There’s no need to spend on expensive equipment and understand how to install it. It is enough to rent someone else’s hardware and mine remotely.

You will often be offered generous bonuses and “yield calculators” that will tell you exactly how many cents/dollars per minute you will earn.

Then everything is very simple: having “rented hardware” from scammers and “mined” for some time, as soon as you want to withdraw your earnings, nothing happens—your funds cannot be withdrawn =)

That should be alarming:

▪️ Guarantee of high profitability. Scammers offer “yield calculators,” although it is impossible to calculate the yield in mining.

▪️ Anonymity. Usually, scammers use anonymous deposit methods so the client cannot prove they made a payment.

▪️ Generous bonuses. Scammers want the victim to send as large an amount as possible. That’s why they write on the site that they give out generous bonuses, such as doubling the miner’s speed.

Cloud mining exists, but there are also many scammers working in this field. Be vigilant and always DYOR!