China declared cryptocurrency mining illegal in the summer of 2021 and
has been fighting all digital assets and the industry ever since. Previously
, China was the main place of bitcoin mining.
Many companies were looking for new locations for business, and some went
underground. Kazakhstan has become a new settlement for many miners. The country
offered cheap energy and inexpensive rental of space.
However, due to the growing popularization of mining in Kazakhstan
, the importance of this industry for criminals also seems to have increased.
Recently, the government of Kazakhstan announced a new case of fraud. Was
The Bincloud pyramid scheme has been revealed. Operators deceived
customers and made money from fraud.
Mining Equipment rental Company deceives
users
The principle that Bincloud uses is well known. Customers
were promised rental of mining equipment. Accordingly, they pay
rent for mining farms and receive cryptocurrencies that
are generated.
The Bincloud project has turned this principle into a scam. Users were promised
a refund of five to six percent of the deposited capital per day.
Additional profit was possible if users were convinced
other clients invest in the project.
Attracting customers mainly took place through messengers
such as WhatsApp or Telegram. Incentives for end customers
contributed to the spread of Bincliud advertising.
The Kazakh authorities are gathering information to prepare
an indictment.