Bitcoin Cloud Mining Platform
Is SolidMiner Fake or Real?
Why Is SolidMiner Fake?
SolidMiner is a website which claims to be a platform for Bitcoin cloud mining. The website does not look completely professional as there are errors in the content.
Their investment plans are for periods of 180 or 365 days. They are promising returns up to 6.5% per day, which is a return of 1,170% in 180 days. The longer plans seem to be much cheaper and have lower return rates too, which is a bit unusual. The prices of the plans are between 0.002 BTC (~$22) to 1.2 BTC (~$13,000).
A domain name lookup of the website shows that SolidMiner.io was registered on 1st January 2020. However, the traffic data shows that the website has only gone live around March 2020.
The website only has a few pages and much of the information is concentrated on the home page. There is not much substantial information on the website except for the investment plans, FAQs, Affiliate page and contact information.
SolidMiner has an Affiliate program where members can earn a minimum of 3% commission on the investments of their referrals. The referral bonus can go up to 30% by purchasing higher-priced plans. As the only requirement to earn a bonus is to invite new members, it seems obvious that SolidMiner is structured like a pyramid scheme. The website even states that members don’t need to have active investments to earn referral bonuses.
There is a payment proof page on the website which shows transaction IDs of genuine transactions. However, there is no evidence that these are genuine payouts by the SolidMiner to its members.
The contact details provided by SolidMiner are an address and an email ID. There is also a phone number which is supposedly reserved for VIP clients. The address given is of a location in London that seems to be fake as it is a residential address. The email ID was found to be working when tested using MailTester.
SolidMiner does not have any social media presence. There are quite a few reviews available for the website, most of which are negative. SolidMiner has a ‘Poor’ rating on TrustPilot with 48% of the reviews being 1-star. The users have complained that they have never received a payout from the website and are unable to login after requesting a withdrawal.
It seems quite obvious that SolidMiner is a scam. Returns of 3.5% to 6.5% per day are highly unrealistic and automatically set off alarm bells. There is no information on who is running the website and the address provided looks fake. The Affiliate program is structured like a pyramid scheme, however, SolidMiner seems to be a straightforward fraud and not a Ponzi scheme as even early investors are complaining that they have not received payouts. It is advisable to avoid investing in SolidMiner as it seems to be an HYIP Scam.
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.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as ScamAdvisor 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: The views expressed in this article are presented as an educated opinion based on facts and evidence. There is no malicious intent or attempt to defame any individual/s or organization/s. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch on firstname.lastname@example.org