Cryptocurrency Cloud Mining & Swing Trading
Are BTCBoostMine, BTCFrost & FastProfitOptions Fake or Real?
Why Are BTCBoostMine, BTCFrost & FastProfitOptions Likely Fake?
Cryptocurrencies are all the rage right now and many companies have tried to capitalize on this trend by selling cryptocurrency services. These include crypto trading and crypto mining to help people get in on the crypto gold rush. They claim to reduce the investment risk by mitigating equipment and electricity costs.
Scammers have also put their fingers into the pie by devising various Ponzi schemes taking advantage of people’s ignorance of cryptocurrency mining. These companies promise high returns which never actually materialize for most investors.
A cloud mining service called Hashflare has already been covered on this blog, which was alleged by many to be a Ponzi scheme and currently seems to be out of business. The negative reviews from investors who have been left in the lurch are piling up.
In this article, we will be looking at three websites which claim to provide crypto mining and swing trading services – BTCBoostmine, BTC Frost & Fast Profit Options. You will soon find out why they have been clubbed together for the purpose of this review.
First, let’s have a look at their home pages.
BTCBoostmine and FastProfitOptions are exact clones of each other, while BTC Frost looks slightly different. A domain name lookup of all three reveals that BTCBoostmine was created first – on 1st October 2019, BTC Frost was created second – on 24th January 2020 and Fast Profit Options was created most recently – on 29th April 2020. The locations of both BTCBoostmine and Fast Profit Options are mentioned as New York. This information will be important later.
The similarities between the three pages increase as we scroll further down the home page.
All three websites provide the same services and plans. Fast Profit Options only provides the higher-priced packages, but the services are exactly identical.
The content on the websites are mirrors of each other, right down to the errors. BTC Frost has an extra section where they mention the payouts that they have delivered along with the names of people. There is no way to verify this information and could easily have been faked. Additionally, BTC Frost also has a referral program that rewards investors for bringing in more investors. This increases the chances of it being a Ponzi scheme.
Even the testimonials for all three websites are exactly the same. Though BTC Frost has a different layout, it shares two of the same testimonials as BTCBoostmine and Fast Profit Option.
Does that mean that the third testimonial on BTC Frost is genuine? That doesn’t seem be the case, as several investment websites are using the same testimonials.
It seems that there are generic testimonials floating around which are used by several websites that simply insert their own name. These sites all seem to be online investing portals.
The websites using the same testimonials as BTCBoostmine, BTC Frost and Fast Profit Options are:
BTCBoostmine, BTC Frost and Fast Profit Options all contain the same FAQ section, wherein it is mentioned that payments can only be made through Bitcoin, Skrill, Western Union MoneyGram. This is highly suspicious as these methods are commonly used by scammers due to their untraceable nature.
Further, it is mentioned in the FAQs that the only way to contact the companies are through the live chat option on the website or the provided email address.
However, BTCBoostmine also has an option for a WhatsApp chat. Even though the domain registration mentions the location of the company as New York, the number provided carries the area code of St. Louis, Illinois.
Even though it’s clear from the domain name lookup that none of the pages were created before 2019, all three of them claim to be operating since 2015-2016, probably to give a false impression of credibility.
Things get really convoluted from here onward.
The About pages of BTCBoostmine and Fast Profit Options are identical too. Interestingly, the pages mention both Florida and Alabama as the company’s location while not mentioning New York at all. In one instance on the BTCBoostmine website, the name of the company is mentioned as CryptoFxBlockmining.
It turns out that the About Us sections of these websites are lifted directly from CryptoFxBlockmining, a website that shares the same German IP address as BTCBoostmine. CryptoFxBlockmining was created just a month before BTCBoostmine, in September 2019.
Funnily enough, BTCBoostmine, Fast Profit Options and CryptoFxBlockmining also share the same physical address in Birmingham, Alabama.
Looking up this address on Google Maps reveals that it is the location of a Trader Joe’s grocery store.
BTC Frost is no less shady, as the contact details mentioned by them don’t check out either. The WhatsApp contact number provided by them shows up as ‘Difference’ and carries the area code of Berkeley, California when checked on TrueCaller. The address given by BTC Frost has been reported as being the address of a company called TradexOption that has a public warning against it.
Reviews of BTCBoostmine, BTCFrost & FastProfitOptions are nowhere to be found, except one review on ScamAdviser about proclaiming it to be a scam. The lack of reviews is possibly due to the fact that the websites are less than a year old.
Taking all the above information into account, there is not even a shred of credibility that can be afforded to BTCBoostmine, BTCFrost & FastProfitOptions.
The testimonials look fake, every piece of information looks fake, there is not a single name mentioned of anyone associated with the companies, the sites are extremely low-budget while claiming to generate high profits and their preferred modes of payment expose users to a high risk of getting scammed.
BTCBoostmine, Fast Profit Options and CryptoFxBlockmining all part of the same network and it just seems to be the tip of the iceberg. The copied testimonials present across numerous websites suggest that there is a larger network of fake online investment services delving into bitcoin and forex trading.
Cryptocurrency investing is not a scam in itself. However, cryptocurrency cloud mining creates an environment that is a breeding ground for fraudulent schemes. It seems like a financially hazardous move to invest in companies like CryptoFxBlockmining, BTCBoostmine, BTCFrost & FastProfitOptions as there is no guarantee that you will receive any service after making a payment. Even if you do receive an initial return on investment, it is likely that the operation is a pyramid scheme and everyone except the early investors would incur losses. It is always advisable to thoroughly research the company and people you plan to invest with.
Remember: If something seems too good to be true, it probably is.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: This review is intended for information only and should not be relied on when making financial or business decisions. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.