Cryptomining.Farm the alleged bitcoin scam site

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CFPAY a cryptocurrency wallet application based in Chaing Rai Thailand is facing various accusations from its clients over fraud.

Victims of an alleged cryptocurrency mining scam have filed claims against the suspected perpetrator with the Technology Crime Suppression Division in Thailand, the Bangkok Post reported on Feb. 18.

Cryptomining.farm as a new virtual mining company and investment opportunity which believes in giving people a way to utilize high quality crypto-currency mining with Cloud mining platform, supposedly promised investors an annual return of 70 percent in addition to the option to withdraw their funds at any time with no conditions.

Trusted sources have confirmed, that 30 people have filed complaints with the police against the Cloud mining platform, stating that they were fooled into an alleged investment scam called “CryptoMining.Farm.”

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This purportedly led the loss of 42 million baht ($1.34 million). Local authorities reportedly suspect that a total of 140 individuals were affected by the scam, the cointelegraph reported.

One of the victims told the Bangkok Post “But from August the owner began imposing conditions for withdrawing the money. Then at the start of this month, the site announced it would start paying back investors in 84 installments — which would take over seven years to complete.”

Anonymous sources said that the payments would also be made in foreign currencies, which is illegal under Thai law.

Bitcoin scamming is becoming rampant according to confirmed sources who have reported fraud cases and other bitcoin scam site.

Law enforcement in Mumbai, India have exposed a group allegedly involved in a cryptocurrencyscam that amassed an estimated 1 billion rupees (nearly $17 million), local media outlet The Times of India reports on Feb. 17.

BitcoinFuture is also one of the reported scam site which fooling that people that they can make a lot of money in just a day.

According to Bitcoinexchangeguide, BitcoinFuture is a company that is trying to scam people by stealing their funds. They way they do it is selling themselves as an automated program to trade Bitcoin (BTC) promising users to become rich in an easy way. As their title says “Bitcoin Is Making People Rich.”

According to the company, users will be able to make a lot of money in just a day, something that does not seem to be realistic. They promise that it is possible to make a minimum of $1300 per day with this program for free. If they offer a promotion that seems too good to be true, then it clearly is a scam. Added the Bitcoinexchangeguide.

The Bitcoin mining and investment is one of the growing technology trends which many have invested in but being an online based exchange platforms they are so prone to security risks and fake providers are emerging day and night.

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There are many different sites that allow users to mine bitcoin. The most popular exchanges are Binance, Coinbase Pro, Poloniex, Bittrex and many others. In these sites, investors can securely trade virtual currencies at all times knowning that they will not be scammed. However, I can’t conclusively say they are safe. Security break ups can happen at any time whether intentional or not – Be aware of where you invest.

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