|First Reported||May 19, 2020|
How the Scam Works
The scammer contacts victims by email, promising fast profits from a mining operation in return for modest investments.
The scammer accepts both bitcoin and dollars. To reassure their victims, the scammer sometimes presents a fake image of a Bank of America document with Blockstream CEO Adam Back’s name and other details photoshopped in.
The scammer will keep any money deposited to them and may even attempt to ask for more (“to release the profits”). Avoid.
The Real Blockstream Mining
Blockstream Mining provides colocation services for Bitcoin mining equipment to enterprise customers.
The Blockstream Mining team does not communicate with potential clients over social media or chat messenger apps. Representatives of Blockstream will never guarantee investment returns and will never ask for a BTC deposit.
Typically, official contact with clients is handled through email using @blockstream.com email addresses only. If you are interested in learning more about Blockstream Mining, contact our sales team via the contact form on our official site.
How to Report the Scam
If you have encountered the scam described above, send us the details on our Report a Scam form.
Unfortunately, we are not able to help you with resolving any disputes or recovering any funds, but your report will help us identify high-risk scams, alert the community, and report them to the relevant authorities.
We also recommend that you take these additional measures:
- Submit an international scam report to econsumer.gov, an initiative of the International Consumer Protection and Enforcement Network (ICPEN).