Bitcoin Cloud Miners sued

This is good news that customers are now suing Ponzi schemes… there are too many of these so called “mining” businesses out there promising high daily or monthly returns.

Yet people still fall for these schemes time and time again… why?  Remember, all that glitters is not “gold”… in this case, digital gold.



“The civil suit complaint states:

Defendants used the lure of quick riches from a twenty-first century payment system known as virtual currency to defraud investors. Though cloaked in technological sophistication and jargon, defendants’ fraud was simple at its core – defendants sold what they did not own and misrepresented the nature of what they were selling.”

People who buy contracts with mining businesses actually lose out on the capital growth they would enjoy when the Bitcoin prices increase. It is best to rather hold on to your Bitcoin, preferable offline, or find a reputable investment platform where Bitcoin is accumulated at a realistic rate plus you never lose your original investment.

Read the full article from Coindesk here

Uncle Scam explains just how these ponzi’s and scams are set up… make sure that you do your due diligence before investing your hard earned cash!

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