South Korea Files Charges to a $250Million U.S. Cryptocurrency Mining Scam

[Ymerej]

Hi Stakers,

I found a interesting news from this article (http://english.yonhapnews.co.kr/news/2017/12/20/0200000000AEN20171220008600315.html), South Korean authority files charges to a Mining Firm based in the U.S.. The mining firm's name was Mining Max LLC, Asking 18,000 investors from different countries, the firm was able to ask for 270Billion (KRW) Korean won and it was approximately $250Million (USD), 14,000 investors are from Korean from the 18,000 investors from Japan,US and China. 21 employee's was indicted, and the chairman,vice chairman and executives are now missing in action. If you look at the Mining Max LLC website its main office was based California but Records shows that "Mining Max LLC" was registered Nevada and California. 

 

Mining Max LLC offers [Premium] Crypto Cloud Mining also offers equipments for Mining - and name it self "a maker of (ETH) ethereum"

 Mining Max LLC: https://miningmax.net/

 

What do you think guys? Frauds and Scam really making big money from this business.

[testB]

Yes, lots of scams with crypto being so hot right now. Although there aren't that many cases as high profiles as this one, it's filled with shady HYIPs and ICOs.

This case in particular should merit further investigation though.

By the way, the article kinda got butchered in the first post. I'd recommend reading from the source.

[Snike]

If they seem to be a scam, why are they still running and how is it a scam if they asked investors for the money? Or did I get it wrong?

[Ymerej]

6 minutes ago, Snike said:

If they seem to be a scam, why are they still running and how is it a scam if they asked investors for the money? Or did I get it wrong?

I rewrite some words to avoid plagiarism, trying my best to avoid warning points  please kindly refer to the original source  thnks

[skillex]

Well we cant deny the fact that this scammer hyip sites nowadays most specially that if the scam site dev is from US one of the leading country in terms of technology today, then this site may reallyvlook too good to be true on its promises and so even european and not just asians will fall victim for their site most specially if those scammed investors are still new to cryptoworld and all in theor mind is the investment and unmindful of site's legality.

[barbaris]

I do not trust sites with mining. In my experience, it is always scam or mining for yourself at your expense. My opinion.

[wilberthh]

Online mining sucks nowadays, especially if they offer big profit or something like that.

 

Back to the topic, I never heard Mining Max LLC before but if they offer big profit in small time, then it'd be scam as well.

[futurwavsurf]

Yes you have to be careful in crypto world! Make sure you thoroughly read white papers before investing money into anything...

[Kargai]

If online mining worked why the hell they will offer you mining power? Why not mining for themselves ?

If they sell you mining power it's because it's more interesting for them, so it mean that you paying for mining is less interesting than mining. yourself CQFD.

[xtinepink]

I wonder if this is connected why the South Korea is urging to ban cryptocurrency on there country. Lol?