Profsab is a Cloudmining Scam - Beware!

[ContentWriter]

What happened::
Profsab is another site that claims it is cloudmining cryptocurrencies. What is obvious is that their ROI is unrealistic even for a miner.

Scammers Profile Link: N/A

Reference Link: https://profsab.com/


Amount Scammed: N/A

Payment Method: Bitcoins and altcoins

Proof of Payment: N/A

PM/Chat Logs:

Additional Notes: You'll likely lose your investment if you deal with Profsab and the scammers behind it.

[Charles-Tim]

Cloud mining has been a scam since many years ago. I can see plan A to E on the site in which you are required to pay money for it. This is just a scam and nothing more.

If you can not buy your own miner and join a mining pool, it is better you do not mine at all.

[BitcoinGirl.Club]

Additional Notes: You'll likely lose your investment if you deal with Profsab and the scammers behind it.

The topic may help some newbies or none at all. Usually a cloud mining means it's a scam. You get the same information from Charles-Tim's post too. Everyone of us in the community understand it.

[Davidvictorson]

Cloud mining has been a scam since many years ago. I can see plan A to E on the site in which you are required to pay money for it. This is just a scam and nothing more.

When I think about cloud mining what comes to mind is an exit scam.

They rob from John to pay Jane. Assuming John has been investing in them and they haven't paid John for a while, if Jane a new investor comes in instead of them to pay Jane at the maturity time, they'll rather use the money to pay John. One of the reasons while it is a controversial issue. The "Johns" would argue that it is no scam because they got paid but the "Janes" would argue that it is a scam, which of certainly it is. And even the "Johns" that finally end up getting paid are still at a loss but they would be happy to get their initial capital back.

[PX-Z]

When I think about cloud mining what comes to mind is an exit scam.

...

The one you mentioned are an example of a literal ponzi, there are some legit cloud mining, you can call it as renting miners too. But because mining is not so rewarding right now, hitting your ROI is lesser to happen because most earned funds will go to maintenance fee, etc.

The site OP mentioned is an example of ponzi too, its too good to be true.