Is Bitmain pulling an exit scam?

[drm88]

Just bought an antminer D3 on 9/5/17 and sent them a wire transfer for 1521.41 USD, went to the bank and got the SWIFT and everything which I uploaded, and then my order's status changed to expired and within hours Bitmain started taking new orders of D3s and L3+s, which some people are claiming are the 'expired' orders of previous purchases, which I am afraid might include mine. I tried emailing them several times and got automatic emails linking me to a 'help' article that doesn't do anything to help me and restricts anyone from commenting or asking for help, so I went to the bank again and confirmed beyond a shadow of a doubt that they got the money. Apparently I am not the only person to be dealing with this either, it seems like this is a growing trend in the past 2-3 months. Quite a few people are dealing with this, and since China seems to have just banned bitcoin trading it seems like they might be tempted to get as many USD wire transfers as possible and just not fulfill the orders and then claim they are unable to due to the new ban. What is everyone's thoughts on this? I am really not sure if I am being paranoid, but I find it very suspect that they are claiming they can't confirm my wire transfer within a few days when they can confirmed BTC and LTC orders within an hour.

[DaMut]

Indeed this is not the first time they did it,
By the way,did you mention about Mining or Bitcoin in the transaction ? Because they will hostage your money because of it.
And it's pretty useless contacting their costumer service because it's very rare for them to answer our question.how about contacting the office via phone ?
They're not openly scam people,but they are selectively did it.only people outside chinese had a problem like this.

Chinese indeed banning the trade,but it's only for now.in the next months they will allow it again,classic trick.
If you have someone in the chinese try to ask help to him/her and visit the hq

[swogerino]

This has been always the case with Bitmain, delaying orders or coming up with something like the Chinese banning the trade now. I have been always a fan of buying a miner with 200-300 dollars more than the real price but to buy it from Ebay from a power seller there. This 200-300 dollars more are because the seller will win something but you have total peace of mind that the miner will be with you within very few days, depending where you are located, in the USA 2-3 days and the miner is at your door.

[Slow death]

[...]

Did you use this link: https://bitmainhelp.zendesk.com/hc/en-us/requests/new; to get in touch with them?


This is their forum link: https://enforum.bitmain.com

you can expose your case

[CyberKuro]

It's a big scam since many people have fallen to the same trap for months, but you should mentioned the site, not only bitmain because there are many pissing sites trying to duplicate bitmain. Another case : https://bitcointalk.org/index.php?topic=2067340.0
However, it's not worth to purchase hardware due to too many similar case for people who bought it from outside the country.

[pinkflower]

Bitmain should stop taking orders. They might be in the same situation with mining hardware manufacturers in the past, taking every order but with no hardware available for delivery.

In BTC mining, any delay is money lost especially because of the linear rise in difficulty.

[drm88]

I've tried contacting them on their zendesk support system and emailing them and have even tried calling both their U.S. and Chinese phone numbers and have been repeatedly blown off and ignored. At this point I am 90% sure they scammed (everything seems to point in that direction) and will probably be reporting this as an international scam to the FBI and FTC as it seems like the only course of action left at this point.

[lumeire]

I've tried contacting them on their zendesk support system and emailing them and have even tried calling both their U.S. and Chinese phone numbers and have been repeatedly blown off and ignored. At this point I am 90% sure they scammed (everything seems to point in that direction) and will probably be reporting this as an international scam to the FBI and FTC as it seems like the only course of action left at this point.

I'd suggest to wait a bit for a response e-mail before proceeding. Set an ultimatum. I know they're a reputable company so at least give them a chance.

If all else fails, it'll be better to search and contact fellow buyers and act as a group.

[bajing]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

[slate_main]

Are there any legitimate mining companies any more, seems the smaller companies offer a great service / product but then go bust and the bigger 'names' either use your hardeware for some months and / or steal your money. What is goin on these days? And of course with Bitmain, being Chinese, there is no law that can assist here, is there?

[nkarm1]

Are there any legitimate mining companies any more, seems the smaller companies offer a great service / product but then go bust and the bigger 'names' either use your hardeware for some months and / or steal your money. What is goin on these days? And of course with Bitmain, being Chinese, there is no law that can assist here, is there?

It would be better if you'd just set up your own rig. Instead of trusting mining companies that you can't really see physically, I'd rather do meetups or deliveries with real guys instead of dealing with this companies because you have no chance of fighting for yourself when they scammed you. Bitmain is legit yes, but in terms of their costumer support when you had problems really sucks, I tried their cloud mining last year and i had problems with my deposits but they just ignore it. I didn't expected it that until now their CS  still sucks. That's why it is hard to trust companies like this right now because most of them turns out compromising peoples. And also, include cloud minings right now investing on them is not that wise anymore. Established cloud mining companies has too much irritating fees.

[drm88]

I agree about contacting fellow buyers, but it won't make much of a difference I think. Bitmain is making money hand over fist and there are certainly enough people profiting from all of this for the issue to be ignored by potential buyers. I really feel the best course of action is to get enough people to report them as scammers if the same thing happens to them. The various agencies can't really ignore these things if enough of it is happening.

[Wipro]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

You can find miners available in aliexpress and ebay china to buy the antminer series in these sites. When you exchange the bitcoin in fiat who limited amount via IMPS transfer you will never into any legal issues. Still bitmain delivery issue ongoing in the site. I noticed of the people created a thread about delivery issue for Bitmain direct purchases.

[Slark]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

Nothing is impossible when it comes to the scale of Bitcoin/Cryptocurrency scams/fails. Just look at the Mt.Gox or Bitfinex, they both top exchanges that disappointed everyone.
I am not saying that Bitmain is a scam, and considered their current strong position I wouldn't say so. In their defence, I say that bank transfers of all types can have delayed confirmation times.
Still, it is the best to reach their official help desk first then start a thread here where basically no one has access to their internal system and we can only speculate.

[drm88]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

Nothing is impossible when it comes to the scale of Bitcoin/Cryptocurrency scams/fails. Just look at the Mt.Gox or Bitfinex, they both top exchanges that disappointed everyone.
I am not saying that Bitmain is a scam, and considered their current strong position I wouldn't say so. In their defence, I say that bank transfers of all types can have delayed confirmation times.
Still, it is the best to reach their official help desk first then start a thread here where basically no one has access to their internal system and we can only speculate.

Well, I did try contacting their support and got blown off no less than 7 times now, and I tried opening a thread on their forum and posted the SWIFT and other transaction proof and got no replies as of yet. This is my first time doing business with a Chinese company of any kind so maybe this is the norm and I'm just not used to it (we are quite spoiled here in the U.S. in regards to customer service lol) but it isn't very comforting to have sent them a bitcoin and 1500+ USD in a wire transfer and get ignored like I'm a nobody. For most people that is a lot of money, myself included, and it is bad business to get cash from someone and just blow them off.

As for the bank transfer having delays....I bought into that until the 10th day (today is the 14th). I went to my bank and confirmed everything was legitimate and correct and then contacted bitmain again and got ignored once again. My bank is telling me to wait until Wednesday U.S. East coast time and if everything isn't resolved by then they said they would have a way of getting my wire transfer reversed (hopefully).  

As for Mt.Gox, I think that is a different thing altogether, specifically because of Mark Karpeles and his involvement with Silk Road and organized crime. It isn't really fair to compare a mining operation like Bitmain to an international criminal / potential terrorist and his plot to get rich quick.

[bajing]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

You can find miners available in aliexpress and ebay china to buy the antminer series in these sites. When you exchange the bitcoin in fiat who limited amount via IMPS transfer you will never into any legal issues. Still bitmain delivery issue ongoing in the site. I noticed of the people created a thread about delivery issue for Bitmain direct purchases.

No, but if i'm not wrong Bitmain is headquartered in Beijing with offices in China even though any in abroad but in this case he purchase miner directly from bitmain sites. of course, he can complain. why i said he can take legal action because he pays by wire transfer.

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

Nothing is impossible when it comes to the scale of Bitcoin/Cryptocurrency scams/fails. Just look at the Mt.Gox or Bitfinex, they both top exchanges that disappointed everyone.
I am not saying that Bitmain is a scam, and considered their current strong position I wouldn't say so. In their defence, I say that bank transfers of all types can have delayed confirmation times.
Still, it is the best to reach their official help desk first then start a thread here where basically no one has access to their internal system and we can only speculate.

Yeah but bitmain had an office in china, of course they have permission to open a business. I think this is different from the mtgox case because the exchange site does not necessarily have a business license. sorry if I am wrong.

[crairezx20]

If you think like that, I think it's impossible because china just banned bitcoin trading and not prohibits the sale of mining hardware, did you had taken legal steps because you send money through bank transfer, I think you have strong enough evidence to prove that they want trying to commit fraud as you allege but honestly I do not believe they do that.

Nothing is impossible when it comes to the scale of Bitcoin/Cryptocurrency scams/fails. Just look at the Mt.Gox or Bitfinex, they both top exchanges that disappointed everyone.
I am not saying that Bitmain is a scam, and considered their current strong position I wouldn't say so. In their defence, I say that bank transfers of all types can have delayed confirmation times.
Still, it is the best to reach their official help desk first then start a thread here where basically no one has access to their internal system and we can only speculate.

Well, I did try contacting their support and got blown off no less than 7 times now, and I tried opening a thread on their forum and posted the SWIFT and other transaction proof and got no replies as of yet. This is my first time doing business with a Chinese company of any kind so maybe this is the norm and I'm just not used to it (we are quite spoiled here in the U.S. in regards to customer service lol) but it isn't very comforting to have sent them a bitcoin and 1500+ USD in a wire transfer and get ignored like I'm a nobody. For most people that is a lot of money, myself included, and it is bad business to get cash from someone and just blow them off.

As for the bank transfer having delays....I bought into that until the 10th day (today is the 14th). I went to my bank and confirmed everything was legitimate and correct and then contacted bitmain again and got ignored once again. My bank is telling me to wait until Wednesday U.S. East coast time and if everything isn't resolved by then they said they would have a way of getting my wire transfer reversed (hopefully).  

As for Mt.Gox, I think that is a different thing altogether, specifically because of Mark Karpeles and his involvement with Silk Road and organized crime. It isn't really fair to compare a mining operation like Bitmain to an international criminal / potential terrorist and his plot to get rich quick.

For now since didn't receive it yet and almost  7 times according to your post and still ignore you better to wait for the reverse so that you will not lose your money for nothing. .

Mt. Gox is just exchange site and i think we don't need to compare them because its a different business even they are same japan based they are still different business bitmain is the only source of antminers  and i think they are just out of stock or they are also affected of bitcoin banning in china. .