Is Syan a real deal?

[savagefunk]

SO I PLACED AN ORDER TO ESCROW AND THIS IS WHAT THEY SENT ME:


Dear Sir/Mme,


Provision of escrow has been initiated by: Syan Technologies Ltd
Escrow#: ST1503665
Description of goods/service: Vega Bitcoin Digital Currency Miner
Order#: 36426
Quantity: 1


Your name/shipping address:
T******** H*******
4** T*********** drive
*********, TN 37***
United States (US)


Payee: Syan Technologies Ltd
Escrow amount: $1,753.00
Escrow fee 5%: $87.65
Total amount payable: $1,840.65
*Currency calculated in USD


Please make payment to the following account:


Payment information:
Account name: Patrick J Gleeson
Account number: 154-2-22067-6
Bank name: Kasikorn Bank PCL
SWIFT: KASITHBK
Bank address: 1 Soi Kasikornthai, Ratburana Road, Bangkok 10140, Thailand.
*Include your escrow number in the comments of your wire transfer to help expedite your confirmation.


Important information:


1. Once you have made payment, reply to this email with copy of the transfer receipt.
2. Your funds will not be released to the vendor until we have received acknowledgement of receipt of your goods/services as ordered.
3. Once the vendor has shipped, you will be notified by us with shipping details and tracking number for your reference.
4. If you fail to receive the goods, please contact us back at this email address within 30 days of your shipping notification to initiate the returns process.


Please call or email if you require any further assistance.




Martin Gleeson Law Ltd.
Tel: +852 9602 6388


Langham Place Office Tower,
516-596 Shanghai Street,
Yau Tsim Mong,
Kowloon,
Hong Kong.


CRC Tower,
87/1 Wireless Road,
Pathum Wan,
Bangkok,
Thailand.


www.martingleeson.com




Please read the following carefully and keep for your records.




Martin Gleeson Law Ltd
ESCROW AGREEMENT
Terms and Conditions
Syan Technologies Ltd of Kinwick Center, Hollywood Road, Central, Hong Kong, (“The Seller”)


and


yourself (“The Purchaser”)


have agreed to appoint


Martin Gleeson Law Ltd of Langham Place Office Tower, Kowloon, Hong Kong  (“The Escrow Agent”)


to hold the amount agreed in the attached order document for the term of this agreement.
Furthermore, the Escrow Agent is willing and able to accept such responsibilities as well as act in compliance with this escrow agreement in its entirety.
In the instance any disagreement shall arise, the Parties agree the Escrow Agent shall not be held liable for any costs, damages, or losses that may arise from duties performed.
Furthermore, unless written permission has been received from the Parties by the Escrow Agent then no releases or disbursements shall be made.
If such disagreement between the Seller and Purchaser does occur the Escrow Agent will have the right to be discharged from this agreement by turning all agreements and documentation over to the jurisdiction responsible for this agreement.
Any and all costs to the Escrow Agent from such proceedings shall be the responsibility of the Seller and Purchaser.
This agreement is for the benefit of the Escrow Agent, Seller and Purchaser.
Furthermore, all parties agree there are no beneficial results for any third parties nor will third parties be involved in any decisions for this escrow agreement.


Escrow
All funds received with regard to this escrow agreement shall be deposited into a federally insured bank money market account.
Any fees due to the Escrow Agent, including shipping fees, at the time of disbursement request may be deducted from the escrow disbursement amount prior to disbursement.
The Escrow Agent will not be permitted to combine personal accounts with the escrow funds at any time during the period of this escrow agreement.
The Escrow Agent will hold any notifications and instructions they may receive as valid without the requirement to investigate or question the sender.


Notification
With written notice from both the Seller and the Purchaser the Escrow Agent will disburse the funds based on the instructions provided within such notice.
The written notice inclusive of directions for disbursement may be delivered in person or via facsimile.
Notification must be provided to the Escrow Agent no less than 24 hours before the disbursements scheduled delivery.


Liabilities
Under the following circumstances the Escrow Agent shall not be held liable or found at fault,
        •       For any omission or error by a party other than the Escrow Agent themselves.
        •       Any loss of funds directly related to the suspension, insolvency, or failure of the funds or the bank themselves.
        •       Any legal proceedings between the Purchaser and Seller
        •       Any and all interest accrued during the term of this Escrow Agreement shall be property of the Purchaser and shall be disbursed as so.


Agreement
By sending the funds as indicated above you agree to have read and understood the terms and conditions outlined in this escrow agreement.
 
----------------------------------------------------------------------------
This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.

[Armans]

Looks like a scam !!

I spoke to Escrow Customer care today, they said they have neither Syan Technologies nor Martin Gleeson registered as Escrow authorized provider.
Escrow CC advised to ask the vendor/Escrow provider to provide their Escrow ID or Escrow License. And this is what this self claimed Escrow provider had to say.

Quoting ......

Dear Sir,

The word "escrow" is a legal term referring to the holding of funds by an independent third party to ensure the successful completion of a transaction. This is a financial procedure which has been taking place throughout the world of commerce for thousands of years.

By "Escrow" I can only assume you are referring to the website "escrow.com" which is - I believe - less than five years old. We are in no way affiliated with "escrow.com", as neither are the thousands of long-standing independent escrow providers around the world. Any trusted financial or legal organisation can offer and perform an escrow service depending upon the regulatory requirements of the jurisdiction in which they wish to operate. We have been offering this service to our trusted customers for sixteen years and, to date, have never failed to satisfy the requirements of our customers on both sides of the transaction.

Should you be unhappy with our offer of service I would suggest that you revert to the supplier and deal with them direct.

Yours sincerely,

Patrick Gleeson
Martin Gleeson Law Ltd.


Earlier Reply
> Hi,
>
> You have provided Certificate of incorporation which is not related to
> Escrow.
>
> Kindly provide your Escrow ID to verify with Escrow that you are an
> affiliate with them or an authorized Escrow provider.
>
> Thanks.
>

[shotwellm]

I've eaten several bags of popcorn watching this thread. A lot of us want this miner to exist so bad! I'm ready to pull the trigger on as many as I can afford. Honestly this thread is the main reason I haven't!

Seriously, thanks guys. I hope you're all wrong, but thanks for your honesty and due diligence.

I have had some communication with them. They have a phone number and office hours. I called that number yesterday and spoke to a person. Unfortunately they didn't have good command of english (of course) so it was difficult. What I did cobble together when I started asking technical questions was that the technical adviser was not in the office right then, and that it would be best to send an email.

In my email correspondence, my replies were similar to those posted above, except for one point. "The prototypes are all running in a bare chasis (sic) with all componants (sic) exposed and so it is impossible to show videos of those without releasing information we are keeping guarded until after we ship batch 1." You could say that this is a good point, but for me it only raises skepticism.

In my reply to Clive, I brought up the points that are causing skepticism, also asking some technical questions. No reply yet. The main point I brought up was that they are supposed to be shipping these units in under two weeks, and they still don't have a machine to photograph? I didn't even get into the five year warranty thing.

I appreciate this thread! Will continue to watch...may have to buy more popcorn though ;-)

[domitron]

I also just received the below e-mail verbatim.  It's a form letter!  In my reply to the form letter, I asked for a full refund along with two others that ordered (each of them as also individually requested a refund from their e-mail addresses).  I will report if I get the refund, but if I don't, I think more than this forum should be informed of these guys.  There were articles (one of them by Bloomberg) that reported on these guys as legit, and believe it or not, I felt that mattered!  Those publications and others should be immediately informed if I or the two others that ordered 10 too don't see their orders refunded.  This scam is going to end up costing people millions maybe!  It should be stopped if that is indeed what it is!  

Also for others that were pulled into this, I am sorry and I doubt you lost as much as I did (I'm also new to mining and was not aware that this crap had gone down before).  It irritates me that many people on this forum seem to think everyone who sort of wants these to exist so was maybe a little gullible like I was are stupid and should be berated.  I assure you, I'm not stupid, and come on, people, show a little compassion!  Like others, I really did want these to exist because I have dozens of Antminer S9s and they run very hot as everyone knows.  If these miners do exist (something I think is unlikely now), they sure would be an Antminer S9 killer, but I also know that if flying rainbow fur unicorns existed that shit gold nuggets, they'd be a nice ride and money maker too.

Roger

PS - Has anyone even attempted to contact the FBI about this?  Obviously if someone is stealing millions in Bitcoin via a non-dark web website no less, it seems to me it should be traceable.

Thought "lets write them a stupid email and see what happen". This is their answer:

----------------------------------------------------------------------------------------------
Hello Akira,

I can assure you that we are real, we exist and we are definately not a scam.

It is only natural that there will be speculation regarding a new company and product in an industry that is currently highly centralized and there have been bad actors in the past. We believe this has been further aggravated by our competition and we have had a number of people attempting to gain insights into the new technology and water cooling deployed in our units.

In light of all this, we have had to be much more guarded in the information we release than we otherwise would have given a perfect launch scenario. To gain the social proof for the long term success of our company we have a review program which will give our customers 10% off their order in return for making an unboxing or short review video when they get their units. We feel this will be sufficient in gaining the trust of the community when these videos are posted. If you would like to take part in this program, please let me know and I will set you up with a coupon for your order. Alternatively, you can wait until you get your units before placing orders into batch 2.

Please let me know if you have any further questions.

Best regards,

Clive.


Quoting "Contact page - syanmining.com" <support@syanmining.com>:

Your name: Akira
Your email: xxxxxxxx
Select: Orders
Subject: are you real?
Your message: Hello,

do you really exist and your products? or you are scam?

greetings
----------------------------------------------------------------------------------------------


I answered that I would be happy to make an "unboxing video" and share it with the community
if they would send me an example of their asic(s) without pre-paying

I'm curious of their answer

[Rahularora1987]

Hi all,
I'm new to this site and crypto world. Similar to others, I also found this Syan Vega series very attractive specially with water cooling and such low price compared to Bitmain.
I tried some sort of analysis to find out if syan is legit or not. Following are details that I found till now:

1. As per news published articles, Syan is fully owned subsidiary of Zahrani group. Now if we search zahrani group we see AlZahrani which I believe is different. I found one website zahranigroup.com, but there is no reference of Syan anywhere. I have dropped an email to them confirming the same. Will update one I receive it.

2. There is no production image as of now and may be they do not want to leak out their design before their first batch to avoid design being copied by others. So we can leave this analysis still open until we get some details.

3. Contacted law firm handling escrow for them and they said they do handle it for syan. Their domain says created sometime in 2003, so they seem to be legit unless their domain expired and someone who says themselves as Syan acquired it or this law firm also handles illegal stuff like this.

4. Somewhere in the news article read about their CTO - Koji Tanaka who is also CTO of Zahrani group as mentioned in their website above. This seems to be legit unless someone planned it in a long way and created this domain in 2014. Or someone is using their name illegally to promote their scam. I'll again keep this point open until I receive any email from zahrani group.

[domitron]

When I placed my order I sure wish they had continued to provide the 2% digital escrow option.  It's gone now (although it was around even in November).  I wonder why?  My guess is that it's hard to escrow a moving target like that, or if they do, they'd need to put escrow just on the dollar value of the crypto at the time of receiving it.

[Textsurfer]

Happy new Year to everybody.....


Are there any News about the Vega Monster?

I hope this scam is Realllll

[///Bryan]

I am going to Hong Kong this weekend, I will check out the law firm's physical location to see if it is a functioning law firm or a front. I have also reached out to Syan to see if I can pay for a machine in person using fiat currency. I will take photos and report back next week.

[domitron]

Yeah everyone hopes its real.  That is what scams are usually like though - things we wish were true that let one's guard down.  Looking back on this, I should have my head examined for ordering these from them.  I will never trust in anything you buy for Bitcoin again.

So I got an email stating that I can open an escrow via the bank for units I already paid for (which makes no sense at all).   I requested that they first return my original payment, but I haven't heard back from them. Here's the e-mail (has a couple spelling errors but really should have zero):


Dear Sir/Mme,

Provision of escrow has been initiated by: Syan Technologies
Ltd
Escrow#: ST1503682
Description of goods/service: Vega Bitcoin Digital Currency
Miner
Order: #36482
Quantity: 10

Your name/shipping address:
<removed>

Payee: Syan Technologies Ltd
Escrow amount: $17,530.00
Escrow fee 5%: $876.50
Total amount payable: $18,406.50
*Currency calculated in USD

Please make payment to the following account:

Payment information:
Account name: Patrick J Gleeson
Account number: 154-2-22067-6
Bank name: Kasikorn Bank PCL
SWIFT: KASITHBK
Bank address: 1 Soi Kasikornthai, Ratburana Road, Bangkok
10140, Thailand.
*Include your escrow number in the comments of your wire
transfer to 
help expedite your confirmation.

Important information:

1. Once you have made payment, reply to this email with copy
of the 
transfer receipt.
2. Your funds will not be released to the vendor until we
have 
received acknowledgement of receipt of your goods/services
as ordered.
3. Once the vendor has shipped, you will be notified by us
with 
shipping details and tracking number for your reference.
4. If you fail to receive the goods, please contact us back
at this 
email address within 30 days of your shipping notification
to initiate 
the returns process.

Please call or email if you require any further assistance.


Martin Gleeson Law Ltd.
Tel: +852 9602 6388

Langham Place Office Tower,
516-596 Shanghai Street,
Yau Tsim Mong,
Kowloon,
Hong Kong.

CRC Tower,
87/1 Wireless Road,
Pathum Wan,
Bangkok,
Thailand.

www.martingleeson.com


Please read the following carefully and keep for your
records.


Martin Gleeson Law Ltd
ESCROW AGREEMENT
Terms and Conditions
Syan Technologies Ltd of Kinwick Center, Hollywood Road,
Central, Hong 
Kong, (“The Seller”)

and

yourself (“The Purchaser”)

have agreed to appoint

Martin Gleeson Law Ltd of Langham Place Office Tower,
Kowloon, Hong 
Kong  (“The Escrow Agent”)

to hold the amount agreed in the attached order document for
the term 
of this agreement.
Furthermore, the Escrow Agent is willing and able to accept
such 
responsibilities as well as act in compliance with this
escrow 
agreement in its entirety.
In the instance any disagreement shall arise, the Parties
agree the 
Escrow Agent shall not be held liable for any costs,
damages, or 
losses that may arise from duties performed.
Furthermore, unless written permission has been received
from the 
Parties by the Escrow Agent then no releases or
disbursements shall be 
made.
If such disagreement between the Seller and Purchaser does
occur the 
Escrow Agent will have the right to be discharged from this
agreement 
by turning all agreements and documentation over to the
jurisdiction 
responsible for this agreement.
Any and all costs to the Escrow Agent from such proceedings
shall be 
the responsibility of the Seller and Purchaser.
This agreement is for the benefit of the Escrow Agent,
Seller and Purchaser.
Furthermore, all parties agree there are no beneficial
results for any 
third parties nor will third parties be involved in any
decisions for 
this escrow agreement.

Escrow
All funds received with regard to this escrow agreement
shall be 
deposited into a federally insured bank money market
account.
Any fees due to the Escrow Agent, including shipping fees,
at the time 
of disbursement request may be deducted from the escrow
disbursement 
amount prior to disbursement.
The Escrow Agent will not be permitted to combine personal
accounts 
with the escrow funds at any time during the period of this
escrow 
agreement.
The Escrow Agent will hold any notifications and
instructions they may 
receive as valid without the requirement to investigate or
question 
the sender.

Notification
With written notice from both the Seller and the Purchaser
the Escrow 
Agent will disburse the funds based on the instructions
provided 
within such notice.
The written notice inclusive of directions for disbursement
may be 
delivered in person or via facsimile.
Notification must be provided to the Escrow Agent no less
than 24 
hours before the disbursements scheduled delivery.

Liabilities
Under the following circumstances the Escrow Agent shall not
be held 
liable or found at fault,
    •    For any omission or
error by a party other than the Escrow Agent 
themselves.
    •    Any loss of funds
directly related to the suspension, insolvency, 
or failure of the funds or the bank themselves.
    •    Any legal
proceedings between the Purchaser and Seller
    •    Any and all
interest accrued during the term of this Escrow 
Agreement shall be property of the Purchaser and shall be
disbursed as 
so.

Agreement
By sending the funds as indicated above you agree to have
read and 
understood the terms and conditions outlined in this escrow
agreement.
 
----------------------------------------------------------------------------
This email and any files transmitted with it are
confidential and 
intended solely for the use of the individual or entity to
whom they 
are addressed. If you have received this email in error
please notify 
the system manager. This message contains confidential
information and 
is intended only for the individual named. If you are not
the named 
addressee you should not disseminate, distribute or copy
this e-mail. 
Please notify the sender immediately by e-mail if you have
received 
this e-mail by mistake and delete this e-mail from your
system. If you 
are not the intended recipient you are notified that
disclosing, 
copying, distributing or taking any action in reliance on
the contents 
of this information is strictly prohibited.


-----Inline Attachment Follows-----

[Rahularora1987]

Following up from the past 5 days, still no reply from either Syan Tech or Zahrani Group.
Earlier it was 50-50 on both sides of scam border, but now it seems to be more towards a scam. As mid Jan is nearby, they might have to run and hide so they must have stopped replying.

[Rahularora1987]

Hey guys, just found out one Hong Kong Govt. website for registered companies.
https://www.icris.cr.gov.hk

Not sure how much updated this site is or do they include all companies or not. I tried to find with 'Syan' keyword, but did not find any.

[dlezama]

Following up from the past 5 days, still no reply from either Syan Tech or Zahrani Group.
Earlier it was 50-50 on both sides of scam border, but now it seems to be more towards a scam. As mid Jan is nearby, they might have to run and hide so they must have stopped replying.

Has anybody contacted the police?

[samdibaei]

NO. It is a fake.

There are no operations in UAE; Hong Kong or China; the kid is in Los Angeles, I have tracked his emails to his phone. Will be calling the department of treasury tomorrow.

Support - Syan Technologies Ltd
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[jakesauras]

Hey guys, I'm a pretty new miner, just started 6 months ago, first with Eth, now with Asics, have a few miners... they took half of what I ever accumulated. Which was about a solid $5000.

Just registered to say it's a scam. Don't believe everything you see when you are looking for news articles on Google about x11 and Scrypt.

HOPE NOBODY ELSE GOES FOR IT WITHOUT LOOKING HERE FIRST!!

I went in through their site, looked at some external links that seemed to have checked out. Everything was so smooth and professional looking... then I saw this thread a little later.

No use crying over spilled milk, hope those pieces of shit don't get anybody else!!! Somebody should hack the site or something, or just send me their physical address in the states, preferably in the midwest, so I can go beat their fucking ass.

Bye friends.

-Jake

[saffacoin]

A sure easy way is to contact the Laos PDR government and find out if they really do have grants in form of land near the Hydro Electricity plant. They do have a huge sustainable/green eco development drive so there was programs offered and still are to stimulate growth in Laos PDR.
http://www.abnewswire.com/pressreleases/syan-technologies-postpone-launch-of-their-cloud-mining-service_168326.html

So the shortest distance between two points is finding out if the cloud mining facility is really being built. If the answer is yes then it is good news for everybody.

If the answer is no, then its sad news for all of us who did manage to fall for it so I guess we all wish the Hydro station or Laos PDR government can confirm this 👀

[dlezama]

NO. It is a fake.

There are no operations in UAE; Hong Kong or China; the kid is in Los Angeles, I have tracked his emails to his phone. Will be calling the department of treasury tomorrow.

I'd call the police now.

[saffacoin]

Does not confirm anything but the CTO has been given blockchain tech projects so its a possible good sign lol... zahranigroup.com/team/ Koji Tanaka

[domitron]

Does not confirm anything but the CTO has been given blockchain tech projects so its a possible good sign lol... zahranigroup.com/team/ Koji Tanaka

Wow, this was (or is) a pretty elaborate scam, folks.  Of course, the reward was a lot too.  Think about it: they have been collecting people's money since October for fake miners, quite expensive pieces of equipment.  Now Bitcoin folks and miners are not really poor people that can probably afford it too.  A lot of people in Bitcoin became pretty wealthy over the last few years--it was almost hard to touch the whole thing without making quite a bit of money--so it's a deep pool of money to attack.  I wouldn't be surprised if Syan collected a million or two in Bitcoin since October, maybe more.  I guess this just goes to show me personally that Bitcoin products and services need to be vetted a lot more skeptically than others I've ever been involved in.  It seems that these people probably come from the dark corners of the web for which we owe Bitcoin's origins.  It's sure taught me a thing or two.

[saffacoin]

The might be hope for those who ordered. For starters the SHA256 will only be shipped 2nd/3rd week of January so let's say some time at the end of January. Until that time has come and gone we just cannot call it so there is hope left. Mostly we hope it's the the real deal and a true competitor for Bitmain and if not it is going to rip trust in the mining community even further and that will definitely be the end of "pre-order" from new companies.

[dlezama]

The might be hope for those who ordered. For starters the SHA256 will only be shipped 2nd/3rd week of January so let's say some time at the end of January. Until that time has come and gone we just cannot call it so there is hope left. Mostly we hope it's the the real deal and a true competitor for Bitmain and if not it is going to rip trust in the mining community even further and that will definitely be the end of "pre-order" from new companies.

It won't be the end of anything. There have been plenty of pre-order scams, and more keep appearing and people just blindly send payments. There's a sucker born every minute