ToTheMoon, found online at Tothemoonimus.com, claims to provide turnkey mining services and custom packages. Find out how the platform works today in our review.
What Is ToTheMoon?
ToTheMoon is built with the goal of allowing customers to access cryptocurrency mining. You can buy miners from the company, or purchase tokens representing a share of the company’s mining profits.
ToTheMoon has created its own digital tokens called ToTheMoon Tokens, or TMT. These tokens give users the right to use the capacities of the ToTheMoon mining farm without paying rent for 25 years.
At first glance, the entire ToTheMoon website appears to be legitimate. They have an extensive whitepaper and detailed information about the team. However, ToTheMoon appears to be a scam website that copies information from Cryptonomos, a separate mining company that launched earlier this year. ToTheMoonimus.com not only has a similar website name, but the whitepaper is a near-perfect copy of the original Cryptonomos whitepaper.
In a Medium post, Cryptonomos claimed they have “alerted our attorneys to this development” and described the people running ToTheMoon as “thieves and frauds”.
Let’s take a closer look at how ToTheMoon works today to find out if it’s a scam or a legitimate investment opportunity.
How Does ToTheMoon Work?
The company has constructed three mining farms. Each farm is designed to last 25 years. The capacity of the three farms is 1.4, 1, and 1 MW. All three farms are functioning successfully.
As the developers earn more money through the ICO, the company plans to build new mining modules. A total of four modules are being planned.
You can buy a package from ToTheMoon representing a certain hash rate and miner. Your package cost includes a one-time fee for buying the miner along with a daily hosting fee. That daily hosting fee covers electricity, maintenance, and the lease of mining capacities.
On the ToTheMoonimus.com website, customers can buy five different miner and cryptocurrency pairs, including Asic S9/BTC, Panda B3 Plus, Asic L3, Antminer D3, and Asic S9/BCH.
You can also purchase TMT tokens representing a share of the company and its profits. 1 TMT token = 0.5 W = $0.50 USD.
The TMT Token Sale
The TMT token pre-sale began on September 5, 2017. The general crowdsale, meanwhile, is scheduled for September 20 to October 31. A total of 45 million tokens will be available across the pre-sale and crowdsale.
You can buy TMT tokens for BTC and ETH.
For every 100 tokens sold, there will be an additional 10 units issued for team members, and 5 units issued for partners and consultants. And, for every 100 sold units, 57.5 W of power of the mining farm will be put into operation.
The developers plan to continue building four new modules throughout October and November to add power capacity onto the project.
TMT tokens can be used from the very first date of issue. There’s a total supply of 51,750,000 tokens. The tokens are Ethereum ERC20-complaint tokens.
Ultimately, as we mentioned above, ToTheMoon appears to be a scam – so you should avoid giving money to the company or buying TMT tokens for any reason.
Who’s Behind ToTheMoon?
ToTheMoon is led by Steven Moore (General Manager), Frank Kermode (Smart Contract Developer), and George Harlan (Chief Financial Officer). Limited information is available online for each member of the team, and we can’t find any additional information about any of these individuals available online.
The company also lists advisors like Jeremy Gardner (Founder of Augur), and Dr. Derek Rayside, a professor at the University of Waterloo. However, based on reports online, Dr. Derek Rayside has no knowledge of the company, and the project is using his name and picture without consent. Dr. Rayside is affiliated with one cryptocurrency, but TMT isn’t it.
Is ToTheMoon A Scam?
ToTheMoon appears to have a detailed website with lots of information about itself online. The company seems to be legitimate, and they seem to be creating real mining farms.
However, ToTheMoon has been accused of being a scam online. Based on reports we can find, we agree.
The reason ToTheMoonimus.com appears to be legitimate is because it’s a verbatim copy of a legitimate mining operation called Cryptonomos, which recently completed a successful WTT token launch for its Giga Watt mining project. The creators of ToTheMoonimus.com appear to have copied all relevant data from the project, inserted new names, then convinced people it’s a real operation.
On September 15, Cryptonomos released a post on Medium issuing their official statement on ToTheMoonimus.com. They called the release of the project “very disturbing news” and described that their attorneys are currently taking action against the developers.
There are plenty of cloud mining scams on the internet today. ToTheMoon, found online at ToTheMoonimus.com, seems to be a legitimate mining company at first glance. The company has a detailed whitepaper and extensive website explaining its operations.
However, at closer inspection, the company appears to be a verbatim copy of Cryptonomos, a legitimate mining operation that launched earlier this year. The words on the ToTheMoon website and in the whitepaper are an identical copy to the materials provided by Cryptonomos.
Ultimately, it’s not clear who’s behind ToTheMoon. However, avoid giving money to this company. It’s another blatant bitcoin investment scam.