This piece is a caution to every reader, not to get distracted and fall for companies that convince their victims that mining cryptocurrency is easy and simple. The mining site called Mining Express is an absolute fraudulent, it is an unreliable company to invest your money as well as the quickest way to lose your Bitcoins. Simply put, it is a grand scheme established to scam innocent investors of their hard-earned money. Everything about them indicates it’s a Ponzi scheme that will eventually cause massive financial losses to investors and we cannot disregard these warning signs.
Legitimate companies in this field are usually run by highly experienced and well-known people in the cryptocurrency world. These qualified individuals earned their approval by exhibiting competency through consistent success stories. Regarding Mining Express, they have made mention of competent professionals behind their operations yet these people are anonymous. There are no traces of profiles of these experts on the internet. I must admit it will take a lot of persuading for anyone to believe there are indeed such competent individuals involved in their activities.
One thing that raises a big red flag is why the name of the owner is not published on the company's website. Every individual will agree that there is no tangible reason to conceal the name of the owner if indeed they are into a genuine business. According to reliable sources, the company's domain was also confidentially registered.
Even though the initial registration for the domain occurred in January 2004, there has been information about new registration details as of August 2017 indicating that the domain was acquired by different owners.
The company does not offer any particular marketable product or service. The only way to join is to be a member of their pyramid scheme to sell its subsidiary program known as the investment plan (Standard, Professional, Master). Through this pyramid scheme, the company offers daily ROI for an investment made.
This raises questions about their suspicious investment plans considering no one knows the location of the company. There is no doubt that this company is a total fraud.
THE COMPANY'S INVESTMENT PLANS.
Mining Express supposedly premises daily ROI in accordance with the plan investors invest in. Three different membership plans are available depending on the amount to invest. Though we could not find the exact ROI for any of their plans on their website. We could only find the packages available, which are: Standard Membership $500, Professional Membership $1200, Master Membership $20,000.
Considering the above investment plans, generation of returns should be champion by highly experienced people in the industry. Not only do these so-called experts have to prove their existence, but they also have to prove their competency through consistent trach records as mentioned earlier. But in the case of this company, there is nothing to show or prove these people exist.
COMMISSION PAYMENT FACTOR:
Their payment of commissions backs the fact that this company is a pyramid scheme (scam). Because they do not have any particular product or service to generate commission for its members. But they only use a business model that recruits members through the promise of commissions for enrolling others.
As at the time of writing this, our investigation has uncovered that the company that serves Mining Express mining farm in Kropyvnytskyi, Ukraine has about six (6) court and several criminal cases against them. The director of this company is known as GETMAN ALEKSANDER OLEKSIYOVICH- an unknown person who is seen as the frontman of this despicable scam. This nominal head pretends like he has no idea or whatsoever his supposedly mining company is all about. The chief beneficiaries of this scam still remain anonymous. We only see those who are shown to us and they are all fake individuals. Below are the various court cases against them according to our investigation.
In the judicial register by request six (6) court documents were found:
At the District administrative court of Kiev, we found two cases. That is case 640/3153/19 and 640/7247/19. These cases took place on the 24.12.2019 and 23.07.2019 respectively.
Again, at the Goloseevsky district court of Kiev, three cases were ascertained. These are case 752/20369/16-K and 752/20369/16-K which are criminal cases against this company. The dates of the cases are 04.07.2019 and 14.06.2019.
REAL ACCOUNT FROM A VICTIM:
A client of this pyramid scheme who requested to remain anonymous sent a complaint to our editorial office. This victim with proof indicated how this company has not been paying him for half a year, the sum of debt owed to him now exceeds $100k. Unfortunately, this person is not alone, because the number of similar cases keeps growing every day.
CONCLUSION:
According to the information at hand, there is no evidence to back Mining Express's claim that they are into legit Mining contracts. Therefore, the membership program is seen as a single source of revenue for the company. That concludes that the business is a scam (Ponzi Scheme). They use funds invested by new members to pay the commission to their existing members.
The information provided by the team about the technical features of the mining farm and the cost of its maintenance does not meet current market conditions and value. Which means there is no mining equipment in the factory as they affirm. They just pretend to have the equipment which makes it easier to solicit money from vulnerable investors. In the future, when they are no new members to recruit, their ROI payment will cease. Early investors might make some profit but most of the members will lose their hard-earned funds through this fraudulent company.
The unknown admin will be the first person to get away. Everyone who wishes to get involved with Mining Express should desist from it and save themselves from any future financial losses. There are better and reliable opportunities if one keeps looking, this dishonest company is not one of them!
