Due to the hype of bitcoin and cryptocurrencies, bitcoin mining is also being a hot topic from time to time.
Scammers take advantage of this hype by scamming people online who are trying to buy Application-specific integrated circuit(ASIC) miners from manufacturers like Bitmain.
The scammer simply creates a fake website, lists some ASIC miners like Bitmain’s famous Antminer, and accepts bitcoin payments as bitcoin payments are non-reversible. The scammer simply takes the money and doesn’t ship anything to the buyer, effectively stealing the buyer’s money.
- Scammers mostly spread their fake mining hardware websites through:
Google search results
- How the scam works
-You search for a website to buy mining hardware.
-You come across a shady website claiming to sell mining hardware.
-You order one or a few, and you pay using bitcoin.
-The website owner runs away with your coins.
- How to protect yourself
-If you’re planning on buying ASIC miners, it’s heavily preferred to buy from the main source.