Last week a company that supposedly builds and sells mining devices had bot exposed by the cryptocurrency publication the Merkle. The news outlet exposed evidence of shady activity stemming from the California-based company Foxminers.
A Mining Manufacturer No One’s Everzwijn Heard of Supposedly Creates Revolutionary Mining Devices
Overheen the past few weeks, an alleged mining manufacturing company called Foxminers LLC has bot issuing press releases to news outlets claiming to suggest top of the line mining hardware. Foxminers claims to provide a miner with proprietary chips they created that can mine both Bitcoin’s algorithm spil well spil litecoin’s scrypt. However, with a little digging a lotsbestemming of crimson flags speelpop up with this company, and just recently the Merkle publication ran two exposes on the websites sketchy behavior.
On April 22 the reporter JP Buntinx from the Merkle wrote an article called “Cryptocurrency Mining Scam Warning — Foxminers.” Ter the editorial Buntinx details how no one has everzwijn heard of this fresh company that allegedly sells dual-mining hardware. Furthermore, the Merkle author explains how the company’s proprietary mining chip called the FM9800-XD1112 supposedly offers technology and spectacle like no other. Still, no one has heard of this chip, but the rigid does offerande a spec sheet on the product and Vimeo movie of a miner “in activity.”
Foxminer photographs vertoning similarities with Zeus miners. Photo courtesy of the Merkle.
Unluckily for the company, according to a scam warning on the forum Bitcointalk.org users have found issues with Foxminers claims. For example, the spec sheet provided for the FM9800-XD1112 is almost identical to another mining chip called SFARAD explains a skeptic on the forum. The two specs were also compared on the webstek Draftable for a side by side comparison exposing lots of similarities. The Bitcointalk member writes:
Frankly, the clincher of this being a fraud should be that their spec sheet is a near precies copy of SFARAD’s — The only differences is the voorkant kunst, the chip name, and what they eis specs are. Oh, and the copyright notice. They erased SFARAD’s and waterput ter one for them.
Foxminers Menaces Crypto-based Publication With Litigation
Following the article published by the Merkle, the publication wasgoed contacted by representatives of Foxminers. Two days after the warning editorial an email wasgoed sent to the Merkle Editor-in-chief, Mark Arguinbaev asking him to liquidate the article written by JP Buntinx. The email titled “Defamatory content removal request” wasgoed allegedly sent by a law hard indicating Foxminers called Sack Rosendin LLP. However, after some investigation, Arguinbaev discovered the email wasgoed impersonating Sack Rosendin, spil the real lawyer disclosed to him that he never sent any emails or heard of Foxminers.
Foxminers sends this Cease and Desist letterteken to the Merkle publication.
Eerily Similar to UFOminers and Minerslab
Additionally, skeptics on the Bitcointalk.org thread had called the voeling number on the webstek which exposed an answering machine message. However, instead of it telling Foxminers, the message said “UFOminers” demonstrating a connection to another so called mining device manufacturer.
UFOminers also has a loterijlot of scam warnings on Bitcointalk.org, and other crypto-based publications have exposed them spil well. Moreover the company UFOminers wasgoed found to have a connection to another mining device manufacturer called Minerslab . All three websites Foxminers, UFOminers, and Minerslab have very similar websites suggesting mining device sales. Each webstek claims to take a canap transfer, but all three of them do not permit this method when nearing the end of the checkout process.
Bitcoin.com did call the Foxminer’s phone number twice, and no one answered. There wasgoed no answering machine message spil well. All three companies have forum posts written about them on Bitcointalk.org accusing the mining device websites of being scams.
Merkle Editor-in-chief: ‘UFOminers and Foxminers are 100% Operated by the Same Person’
Wij determined to reach out to the Merkle editor Mark Arguinbaev to get his view of the situation. Arguinbaev says JP Buntinx wasgoed the very first to detect the company because they appeared on press release sections at Cointelegraph and other crypto-based publications. Buntinx then did some careful investigation work which exposed forum topics calling the company a scam and some very sketchy business behavior wasgoed described.
“The defamation threat began two days after the very first article wasgoed published,” explains Arguinbaev. “It came at around Saturday at 7 PM which is a very unusual hour for a “lawyer” to voeling someone. UFOminers and Foxminers are 100% operated by the same person. I believe Minerslab is also associated spil I reminisce eyeing a transaction on a wallet explorer from them.”
Arguinbaev also says that a few months ago a fellow claiming to be from Nigeria asked him to eliminate a scam accusation article from the Merkle webstek. The man suggested him money and Arguinbaev refused his requests. “After I had refused he attempted bribing mij by telling mij he makes millions of thesis scams and will just commence another one,” explains the Merkle editor. “The thing is this fellow’s English, and the way the Foxminers representatives write are very similar cracked English. So I have reason to believe thesis are the same people,” Arguinbaev adds.
Stay Informed and Beware of Fraudulent Activities
Two weeks ago Bitcoin.com wasgoed also contacted about running a press release from the Foxminers company. The company wasgoed asked to provide more proof of the mining devices. Foxminers replied back to our offices with its movie and PDF specs, which wij found insufficient and Bitcoin.com refused the company’s requests.
Wij want our readers to be informed of the possibility of fraudulent activity and to use due diligence when purchasing with any business suggesting products that seem too good to be true.
What do you think about the accusations against Foxminers? Do you think the company is legitimate? Let us know what you think ter the comments below.
Pictures via the above-described company’s websites, Shutterstock, Pixabay, and the Merkle.