Bitcoin Scam Site Warning – CKMiner

The CKMiner platform is another bitcoin cloud mining Ponzi scheme that needs to be avoided at all costs. Do not confuse this website with the bitcoin mining software going by the name of CGMiner as they have nothing in common. CKMiner wants to trick investors into depositing funds for a service the company does not offer in the first place.

CKMiner Has No Mining Hardware Whatsoever

One common trait most bitcoin cloud mining scams share is how they will offer free hashpower to new customers. In the case of CKMiner, new users will receive 15 kh/s of hashpower for free, which will remain active for the lifetime of the account. This seems to indicate the company will not mine bitcoin, but rather an undisclosed selection of altcoins. Even then, they would need to own a vast mining farm, which is not in their possession at this time.

Speaking of the mining hardware, the CKMiner site claims there are a total of six different mining centers. Three of them are located in Europe, with one in New York, Dubai, and Tokyo to complete the list. Rest assured there is no data center in these locations where CKMiner is an official customer. The company is selling vaporware and will only pay existing users as long as new money continues to trickle in.

As one would come to expect from a cloud mining Ponzi scheme, there are different plans available to customers. Although no one should invest in any of these plans whatsoever, some of them will seem appealing to users. More expensive plans also offer a shorter repayment period, which is rather surprising to say the least. Then again, this is another example of how this is a clear Ponzi scheme and nothing else.

It is not difficult to see why CKMiner may offer some appeal to users. Their rate of repayment is rather quick compared to other cloud mining schemes. Then again, once fresh capital stops coming in, CKMiner will stop paying very quickly. That is only a matter of time until this happens, though, as programs like this never survive for all that long. Do not be fooled by the number of registered users on the site, as that number is just fake.

The CKMiner website was registered in September of 2016, and started the scheme shortly after. However, just because the service has been paying investors for the past 6 months, doesn’t mean that it will continue to do so. Moreover, all of the domain registrant information is hidden, and there is no company information on the website. All of these signs point to this platform being an obvious scam. Avoid this company at all costs, otherwise you will end up losing your funds.

Cloud mining companies are often a scam, especially in the world of bitcoin and altcoins. Running a legitimate operation takes a lot of money, a data center, and specific licenses in order to operate in that region. CKMiner does not have any of these, that much is evident. Moreover, the choice to offer free hashing power to new customers only validates these concerns.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.