Fraudsters Accused of Masquerading as Bitmain to Promote Their Crypto Product

By Chris Torres | August 13, 2019

Bitmain – the Beijing-based crypto mining equipment distributing firm – has made accusations towards a crypto project, for using its name for advertising purpose of a coin called Mangocoin (MNG).

Reported on August 9, an act of unauthorized use of its image has caught under Bitmain radar, appearing in a product named “Bitmain Cloud Miner”, as well as the promotional material of Mangocoin. The fraudsters pretended to be Bitmain, advertising the crypto project on their platforms.

Bitmain has issued public warnings to the audience, that any social media channels, apps are associated groups related to Mangocoin have nothing to do with Bitmain, and Bitmain is entirely not Mangocoin’s official developer.

“We would like to remind our existing and potential customers to correctly identify the service provider when purchasing products, to sign up for or purchase anything online only after careful deliberation and stay alert to misleading promotions, illegal fund-raising, fraud and other malicious activities on the internet.” 

Bitmain has employed the help of legal entities, in an attempt to provide protections regarding its and its customers’ rights.

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