Welcome to this Coinmine VT scam warning in which we investigate a report regarding a digital currency scam made with the BBB (Better Business Bureau) on February 25, 2023 by a Washington, USA person.
The person was approached by a woman on Instagram who introduced them to investing in Ethereum and nodes. After starting with $1,500 and seeing returns, the person invested $50,000 from their 401k and inheritance into Coinmine VT at the woman’s suggestion.
The woman then asked for more money to meet a smart contract, and the person ended up borrowing money from their sister and father. The wallet was frozen twice due to suspicious activity, with the woman putting in $60,000 being the cause of the second freeze. The person was then asked to deposit more money to start earning 8% and was unable to do so.
Here’s the account of what happened in the victim’s own words:
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I was approached by a woman named Alysaa on Instagram, and after talking for a few days, she suggested we communicate on WhatsApp. Alysaa introduced me to Ethereum and nodes, explaining how attaching to a node could generate returns on investment. I started with $1500 and saw some returns, so Alysaa suggested that I invest more to increase my returns.
Based on her advice, I invested $50,000 from my 401k into the Coinmine VT. After about a week, a smart contract was triggered, and I had to add more funds to reach $200,000 USDT. I emptied my 401k and inheritance and borrowed money from my sister to get close to the target, and Alysaa contributed $60,000 at her request.
We finally met the smart contract, and I was told that I would be rewarded with 30 ETH. However, a day later, my wallet was frozen due to suspicious activity linked to Alysaa’s $60,000 contribution. To unfreeze my wallet, I had to raise another $50,000 USDT, which I borrowed from my dad. However, my wallet was frozen again a day later due to triggering a pledge pool, and I needed to deposit 36 ETH to start earning 8%.
At this point, I realized that I couldn’t raise that much money, and Alysaa said she had raised $40,000 and insisted that I raise $20,000 more. I was unable to do so, and I suspect that this could be a scam.
So who is the scammer?
What is Coin Mine VT?
According to this report, the scammer’s location is New York City, NY, United States.
Telephone number: (517) 939-9293. (Area code 517 is the area code of the south central portion of the Lower Peninsula of Michigan, centered on the state capital, Lansing.)
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Business name: Coinmine-VT.
There’s no mention of “Coinmine-VT” online.
The phone number is not mentioned anywhere on the Internet.
The scammer is probably not coinmine.com, a website which sells cryptocurrency mining hardware.
According to CryptoCompare.com, the device that can mine Ethereum PoW and store cryptocurrencies in a digital wallet. It has a hash rate of 30,200.0 KH/s, power consumption of 180, and a price of $660. However, it has a negative profit ratio of -83%, with a return per day of -$0.4 and a payback period of never.
It has received mixed reviews from its community. Some users have reported issues with connectivity and delays in delivery, while others have praised the product for its accessibility and ease of use. Anyway, it doesn’t seem to be a scam.
There was also a website at bit-coinmine.co, but we can find no information about it.
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The story of the person who invested in Coinmine VT serves as a warning to potential investors to exercise caution when approached by strangers on social media with investment opportunities. It is important to do your research and verify the legitimacy of any company or individual before investing your money.
The lack of information online about Coinmine VT and the phone number associated with the scammer raises red flags, and it is likely that this is a fraudulent operation. As always, it is important to stay vigilant and protect yourself from scams in the fast-moving and ever-changing world of digital currencies.
If you have been scammed by them or if you have any information about them, please let us know by commenting below.
If you have lost a significant amount of money to online scams, such as the CoinmineVT scam, do not lose hope. We can help you recover your funds!