Over 100 Cloud Mining Sites Identified as Scams
Brave New Coin, a recognized authority in crypto analysis, has conducted extensive research. According to their findings, the probability of being scammed by a Cloud Mining platform is almost 100%. Their investigations spanning several years have not identified a single legitimate Cloud Mining operation, similar to the notorious Hashflare scheme.
Here is a non-exhaustive list of identified fraudulent sites, some of which are still active :
Recently closed sites after stealing millions :
- Sunminer – Launched in November 2023, shut down after stealing funds
- X.CGmining.com – Claimed to have global data centers
- GlobaleCrypto.com – Promised millions of satisfied users
- Gbitcoins – Disappeared in May 2025 with victims’ funds
- AMGCrypto – Closed at the end of May 2025
- HappyMiner – Vanished in early July 2025
Sites still active but identified as fraudulent :
- digitminer.com
- nebulamining.com
- simpleminers.com
- sfcrypto.com
- gdmining.com
- astmining.com
- chainmine.org
- hashminer.pro
- easymining.cc
- byteminings.com
And the list continues with over 100 sites identified as fraudulent by crypto security experts.
How the Hashflare Scam Works : The Perfect Ponzi Scheme
Cloud Mining scams follow a well-established pattern that traps even experienced investors :
1. The Bait : Promotional emails promise guaranteed returns of 10% to 40% per month through “automated mining.” Websites are often well-designed with fake testimonials and real-time profit counters.
2. The Validation : To gain trust, these platforms actually pay out the first withdrawals on small amounts. A $20 investment might yield $30 in a few days, encouraging the victim to invest more.
3. The Trap : Once a significant amount is invested ($1,000 or more), sudden “technical issues” appear. Additional fees are demanded to “unlock” the account or “activate” withdrawals.
4. The Final Scam : The more fees the victim pays, the more new problems emerge. Eventually, the site disappears with all funds or becomes inaccessible.
Crypto Scams : Your Rights and Steps to Take
If you have invested in a Cloud Mining platform, here are the steps to take immediately :
1. Stop all payments : Do not pay any additional “unlocking fees” or “maintenance fees.” This is the classic trap to extract even more money from you.
2. Document everything : Take screenshots of conversations, emails, payment proofs, and transaction history. These elements will be crucial for authorities.
3. Report the scam : Contact the relevant authorities: SEC in the United States, FCA in the UK, or equivalent bodies in your country.
4. Beware of “recovery agents” : Secondary scammers will contact you claiming they can recover your funds for a fee. This is a scam within a scam.
What Are the Alternatives ?
If you really want to gain exposure to the mining sector, here are the only legitimate options :
- Mining company stocks : Invest in publicly traded companies like Marathon Digital, Riot Platforms, or Core Scientific. You benefit from financial transparency and regulation.
- Bitcoin ETFs : ETFs like IBIT or GBTC give you exposure to Bitcoin price without mining risks.
- Personal mining : Purchase your own ASIC hardware and mine at home. It’s complex and expensive, but at least you control the operation.
- Verified mining pools : Join established pools like Antpool or F2Pool with your own hardware. Never pay for “contracts.”
The message is clear: Cloud Mining is a scam in 99.9% of cases. With $577 million stolen by HashFlare alone and hundreds of other active fraudulent sites, this industry has become a hunting ground for scammers.
