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What is mining machine hosting (exposing the mining machine hosting scam)

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What is mining machine hosting? In the blockchain industry, mining machine host

What is mining machine hosting (exposing the mining machine hosting scam)

What is mining machine hosting? In the blockchain industry, mining machine hosting is one of the essential types of equipment, mainly designed to meet the mining needs of different users. Due to the continuous rise in Bitcoin prices, increasing hash rates, and overall growth in mainstream cryptocurrencies, the encrypted market is facing a supply and demand imbalance. As a result, more and more traditional investors have turned their attention to Ethereum for investment. However, due to the large market fluctuations and low mining efficiency, many individuals and companies choose to obtain profits through hosting methods. (Cointelegraph)

Expose the mining machine hosting scam

Editor’s note: This article is from Deepchain Finance (ID: deepchainvip), written by 0x21, authorized to be reprinted by Odaily Star Daily.

Recently, many investors have been troubled by the “mining machine hosting scam.”

1. The fraud methods are widespread, with Bitcoin mining as the main attraction; 2. Since January, there have been several new types of scams involving impersonating official mining machines. These scams include fabricating customer names or phone numbers.

3. Forging company names and contact information, promising high returns and charging commissions… These forms are constantly emerging and deceptive.

4. The “mining machine hosting scam” (referred to as a pit) occurs frequently, and this type of investment and financing activity has covered more than 200 provinces and cities nationwide. There are many victims, and the main manifestations are as follows:

1. Involving large sums of money; 2. High volatility after March; 3. Asset losses during price increases; 4. Users can achieve higher returns without thresholds; 5. Higher requirements for platform fund security; 6. Further increase in virtual currency-related criminal risks.

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