StartMiner Crypto Ponzi Scheme Scam Based In London Is Running For Over A Year Now


StartMiner’s Ponzi Scheme at London-Based Scam Address Is Still Operating

Most people in the cryptocurrency industry are well aware of how big of a scam that StartMiner.com is, since it has been around for nearly two years at this point. Many victims have described the way that they have been taken advantage of. However, this scheme has curiously remained active and is even spreading.

StartMiner is one of the most skilled websites for scamming users. They make a lot of claims that seem appealing to consumers, like their alleged (but unproven) payout per minute and their cloud mining. Even if potential users are not enticed by those false claims, there is a free introductory program, paying out 0.0002 BTC daily. After reaching 0.002 Bitcoin, the user should be able to cash out, but they are faced with a “5+ days” waiting period. The only way to “make withdrawals process faster” is with additional investments. Even though a smart investor would see past this gimmick quickly, there are many people that jump at the opportunity to earn more.

Anyone that spends some time on StartMiner has seen the outrageously generous reward system that brings users into the pyramid scheme, promising about 30% in commission. Most people willingly engage in this scheme, as long as they have enough time to climb up the ladder and bring in enough users beneath them. Some people go as far as to push the scheme along themselves, advertising the scams to others that have not caught on quite yet.

Still, despite the fact that so many people advertise and bring in others, there is nothing in the website’s transactions that implies anyone is able to withdraw funds. The only thing that the website seems to pay out is commissions on referral, but the funds have no way of being withdrawn.

To make the scheme even more complicated, no one really knows who is in charge of StartMiner. The only fact that anyone has been able to gather is that the virtual address for the website is located in London and was sold by a company called MadeSimple. This anonymous owner purchased the address for £49.99. Unfortunately, nothing is offered beyond that, considering the address is just a font. Even if someone searches for the actual address online, it seems to be just a place that has been designed for online scams to thrive. Some statistics indicate that London has become the most popular place for scam artists to thrive.

The address, 20-22 Wenlock road, has become famous for being a scam address. The High Court in the UK has even liquidated several companies from this exact address, who were run by Jade Evans. Some people believe that Evans has been responsible for StartMiner, but there is not any further evidence that this is the case.

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