|First Reported||Jun 24, 2021|
|Scammer Name/ID||"Megan Brayden", "Lisa Clinton"|
How the Scam Works
The scammers message potential victims on social media platforms and direct them to the illegitimate blockstreammining.io website.
They convince them that the platform is affiliated with Blockstream by using Blockstream’s logo and branding. They also claim to work for Blockstream and sometimes produce a fake badge. The website promises unrealistic returns such as “50% profit daily” and “1050% profit monthly”, through bitcoin mining.
The website asks its users to make a deposit on the platform, in bitcoin, so they can start earning their returns. Users are encouraged to deposit more funds until they are contacted about their withdrawal at the end of the “mining session”. The scammers claim they will send their profits to the user after the user pays several extra fees, such as a “Withdrawal permit” and a “Broker permit”.
The scheme sounds enticing, but, of course, there is no bitcoin being mined and the “withdrawal” is never sent.
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 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 would 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).
- Instagram: Report the scam though either the Instagram app or their online form.
- Facebook: Report the accounts involved using this method.