Investors cheated 300 million. Scammers sell fake ASIC on behalf of Bitmain

Chinese police uncovered a fraudulent scheme that victimized tens of thousands of deceived people. The total damage from the activities of criminals is estimated at 2 billion yuan or $ 300 million at the current rate.

Fraudsters received the money for the sale of fake Usikov that are beneficial to mine their own token CAI and well-known cryptocurrency Filecoin. In just four months, the company Lianxin Tech managed to sell about 300 thousand ASIC miners.

Don’t believe scamu

Equipment Lianxin Tech was promoted as a profitable investment in advertising the company’s representatives were told its customers exorbitant profits, comparable to how much was brought mining Bitcoins 10 years ago.

Price of one machine — 5800 yuan, the estimated payback period does not exceed two months. Just a day it would be possible to produce 47 CAI. Cryptocurrency really existed and were traded on the stock exchange AT a little-known. In a short time its price shot up from 0.5 to 2 yuan, which investors fell for the Scam and bought the first batch of Asimov.

For a buyer, the script was amazing — hundreds of Asimov would have made him about 43 thousand dollars a month. In this one detail manual Lianxin Tech still kept. Stock exchange where traded their tokens, completely controlled the company. Respectively, the price of CAI manipulated for luring new victims.

Source: CryptoWatch

CEO even set up a company called Shenzhen Bitmain Tech Company that had absolutely no relation to the well-known mining giant. The deception was uncovered by accident — one of the buyers of Asimov noticed that the equipment continued to generate a steady amount of CAI even during a power outage.

By the time the crooks have already fled with the money, leaving their would-be clients with a bunch of scrap metal. While the local police is still in search involved in scamu.

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