Miner One BTC Mining ICO CEO Pranas Slusnys arrested for 6+ million dollar fraud

[Maverick.au]

The CEO of Miner One Pranas Slusnys has been arrested.

Miner One ran an ICO to start up the "world's biggest crowdfunding mining operation" in 2018 but it's been nothing but a scam since the start.

https://www.icoinvestigation.com/2366/miner-one-ceo-pranas-slusnys-arrested

The full investigation is here

https://www.icoinvestigation.com/minerone

[hacker1001101001]

By looking at the amounts of the fund the mining company scammed its surely a very serious issue about the fraudulent activities going behind the current ICOs.

Photoshopped photos, blockchain blunders, power and mining anomalies, removing information from the internet, key players trying to cover-up their involvement and other deception from Pranas set the wheels in motion for his eventual arrest in what appears to be potentially a $6,000,000+ elaborate scam.

I am just surprised to see even after such an harsh atmosphere in the crypto industry, people are still investing in the ICO shits. You could find thousands of examples of fake ICOs on the forum itself, some of them have fake teams and others are just MLM. It's pretty hard to find a legit project to invest in today's days.

Such fraudulent activities can only be reduced by warning peoples about the risk in any investment, many people are becoming rich by just sitting at home and making an ICO plans to attract innocent investors, by showing them greeds of huge profits in the future. Until now any smart investor should understand the risks in the crypto market and what are the best ways to invest in it. If I was a crypto investor, I would have always choose to go with Bitcoin rather than any other alt ( I see most of them as shitcoins).

The above article can explain how a person could game on an MLM scheme by just showing fake images of some mining hardware ( Most of them were rusted because of no use) and can it also helps other in avoiding more such projects.

[Thekool1s]

@hacker1001101001 Exactly! People see some flashy graphics and some SSL certificates and think that the project is *legit*. The old golden rule still applies today, All That Glitters is Not Gold. What I find interesting here is how did somebody not expose the company from inside, were they all in the scam? If they were why those guys haven't been arrested? The minerone website is still up. The police need to shut it down asap.

[Maverick.au]

@hacker1001101001 Exactly! People see some flashy graphics and some SSL certificates and think that the project is *legit*. The old golden rule still applies today, All That Glitters is Not Gold. What I find interesting here is how did somebody not expose the company from inside, were they all in the scam? If they were why those guys haven't been arrested? The minerone website is still up. The police need to shut it down asap.

The website is still up but we want that as investors that are not aware can get their transactions etc for the upcoming class action. You can't buy tokens anymore as the ICO has finished. It's funny that they don't have access to the wordpress backend on the server and they can't reset the admin password as it's missing a component so to remove information they are hacking the pages from the command line.

I'm working on presenting evidence on the other co-founders and other staff as there are at least 2-3 of them that I believe there is sufficient evidence to arrest or at least bring them in for questioning and there are likely the same number that are knowledgeable of the scam but didn't participate directly, some of these are working on a related ICO that has also failed at the same time with a loss of $12 million which I'm working on documenting for presentation to the authorities.

There are at least 4-5 others with a total value of $100 million that I'm looking at now and if I expand that scope a little there is potentially $300 million. Many of these have links in between them from both behind the scenes and at a blockchain level.

[dothebeats]

I remember the ads on Youtube regarding this service about a crowdfunded mining service. The term 'crowdfund' has been excessively used in the cryptoindustry lately for scamming and luring people into false claims that they'll get x amount of money in y amount of time by just joining. Miner One is no exception. They may have shown complete facilities and equipment on their ads but really, they are just a ponzi scheme with a cleaner background that's why they got a lot of money easily.

I hope people like their team rots in jail for deluding people and scamming them with fheir money.

[btyco]

It's scum like this and bitconnect that put a bad taste in the mouths of new investors. Hopefully word of this won't be too widespread, this is the time when we really need new money to flow in

[Mrsparks]

The fact remains crypto needs more regulations before it can attain the lofty heights it's being attributed. More protection for investors is required. The rate of scam in the blockchain space is alarming I must say

[jojohamasa]

The CEO of Miner One Pranas Slusnys has been arrested.

Miner One ran an ICO to start up the "world's biggest crowdfunding mining operation" in 2018 but it's been nothing but a scam since the start.

https://www.icoinvestigation.com/2366/miner-one-ceo-pranas-slusnys-arrested

The full investigation is here

https://www.icoinvestigation.com/minerone

Well we as an crypto community get rid of these crooks
But unfortunately their presence raises many concerns among investors
We need to raise awareness, especially in dealing with ICOs projects.

[Maverick.au]

The fact remains crypto needs more regulations before it can attain the lofty heights it's being attributed. More protection for investors is required. The rate of scam in the blockchain space is alarming I must say

More regulation won't help neither will the change from ICO to STO as the criminals will always work out ways to get around the law.

The fact is that if Pranas were smarter he could have gotten away with this scam even if it was within the STO framework.

[pooya87]

The fact remains crypto needs more regulations before it can attain the lofty heights it's being attributed. More protection for investors is required. The rate of scam in the blockchain space is alarming I must say

is bitcoin itself regulated? is bitcoin itself as a decentralized currency scamming you?! but these ICOs were all scams themselves. so the fact remains that regulation or no regulation the problem is with the projects themselves not with regulation or lack thereof.
if people simply stopped throwing their money away at obvious scams called ICOs with the hope of getting a good profit while having their heads in the sand, there would have never been any cases like this.

[alisafidel58]

The fact remains crypto needs more regulations before it can attain the lofty heights it's being attributed. More protection for investors is required. The rate of scam in the blockchain space is alarming I must say

The crypto doesn't need regulation but the people who are in ICO are in need of regulations. Crypto was build to be decentralized and not centralized, so the regulation must on the people who are creating ICO if they are really legit or not.


Crowdfunding is not for a mining operation is not really a good way to invest your money. I have seen this ICO that Pranas is involved with, I didn't like the idea that why I didn't invest in it.

[Haunebu]

Wow. Insanity. ICOs are basically the new HYIP programs these days that promise investors huge profits through which they can buy lambos and retire peacefully. If only life was that simple.

This just goes to show how dumb some people are who continue to invest in shit ICOs even after the 2017 collapse.

[kryptqnick]

Unfortunately, nothing new there. ICO is a nice idea but bad reality. It's good that someone with strong vision and knowledge can crowdfund a project, but instead it's mainly used to create useless tokens/launder money/scam investors. Scamming investors is very easy, since they give you their money without signing any contracts or reading disclaimers. And since creating a new token is very cheap, you can even give them their tokens in return, but they won't be worth what investors spent on them. As for money laundering, it's pretty easy to start an ICO, claim that the soft cap was reached (take your dirty money and present it as what you've collected from investors), then actually use some of this money on promotion and getting the coin on exchanges. Then report what's left of the money as profits from a successful project and voila.
It's sad that people still invest in many useless projects.

[Erickan]

This is why we need to stay away from investing in cloud mining services, even for ICO regarding bitcoin mining. Most companies and cloud leasing projects or ICO fundraising for Bitcoin mining are fraudulent. They always draw a prospect with a lot of profits for investors, but are actually frauds or just losses for investors.

[bagalkot]

Even i can say that some ICO which are running good but for their coins price they are not bothered and they are down more then 90%, so i think investing in ICO is totally waste and it is better to invest when they hit the market and just take profit and dont go for long term. Better to trade and take profit.

[Beerwizzard]

I am just surprised to see even after such an harsh atmosphere in the crypto industry, people are still investing in the ICO shits. You could find thousands of examples of fake ICOs on the forum itself, some of them have fake teams and others are just MLM. It's pretty hard to find a legit project to invest in today's days.

The worst thing is that sometimes legit projects are not rising enough funds because of that shit. ICOs are getting an audience from some HYIPs and not qualified investors, if everything would keep moving this way they will definitely drown in shit.
It feels like for some reason most of those people, that are arrested for scam ICOs really thought they can steal some millions in crypto and no one would bother to find them.

[Ailmand]

Definitely one of the reasons why ICO died. Most ICOs are scam which made legitimate ICOs fail. Last year only few ICOs succeed, most of them were extended because investors are keeping away from investing in ICOs since a lot of scam ICOs are increasing. Must be the reason why developers are looking for another way to fund their project thru IEO.

[lyks15]

I am not surprused that this is scammed. It is a very good offered that many people will accept and grab the opportunity to mined 1BTC. Because if I am a newbie then someone give me a chance to have or to be mined 1BTC I will not let it passed without trying. And the bottom line is you pay big transaction fee but you get nothing. So be carefull specially to newbies.

[Zadicar]

I am just surprised to see even after such an harsh atmosphere in the crypto industry, people are still investing in the ICO shits. You could find thousands of examples of fake ICOs on the forum itself, some of them have fake teams and others are just MLM. It's pretty hard to find a legit project to invest in today's days.

The worst thing is that sometimes legit projects are not rising enough funds because of that shit. ICOs are getting an audience from some HYIPs and not qualified investors, if everything would keep moving this way they will definitely drown in shit.
It feels like for some reason most of those people, that are arrested for scam ICOs really thought they can steal some millions in crypto and no one would bother to find them.

They do just become too confident but on overall or rate of arrest then finding suspect for frauds is just on small numbers compared to those people who actually dodged legal issues.
Unlucky for those who have been tracked and lucky for those who havent.This is why ICO era is slowly to go to the floor and now the trend starts again with IEO.