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Author Topic: Chinese Mining mogul FriedCat has stolen more than a million in AM hash SCAM  (Read 20963 times)
TigerMart
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March 02, 2015, 05:54:55 PM
 #1

update

The 3.546PH AMHash's hashrates have disappeared since 25th Dec 2014. We found this problem two days later,we asked friedcat,he said it was mining farm's maintenance issues,hashrates would come back soon.But one week later,hashrates didn't come back yet.When we asked FC again, we were told that all mining devices were robbed by the partner of the mining farm.And all hashrates were out of control.
After then, FC told us that hashrates from new mining farms will be deployed, but we didn't know the amount at that time.Right now, we still don't receive any update from those new hashrates.

AMHash Team

AM hash is selling 0.0012 BTC/Ghs.

3.546 Phs = 3546000 Ghs

Lost amount at current rate (1 BTC = 263.59 USD) = (3546000*0.0012*263.59) USD = 1121628.168 USD

This is probably the biggest theft in Mining world and the reasoning of mining equipment robbery has never been heard before. FriedCat created a trusted profile on this forum over a very long time and hence no one imagined that he could scam this way => https://bitcointalk.org/index.php?action=profile;u=49840

AM hash co-owner RockMiner once tweeted about FriedCat

https://twitter.com/RockMinerInc/status/495534160560136192

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GermanGiant
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March 02, 2015, 06:18:00 PM
 #2

I think FriedCat is not a real name. Does anyone know about FriedCat's real identity ?
RussianRaibow
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March 02, 2015, 06:37:22 PM
 #3

I think FriedCat is not a real name. Does anyone know about FriedCat's real identity ?

This is the team behind AM hash. May be the guy with cat pic on chest is FriedCat...


I AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMERI AM A SCAMMER
oldmaid
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March 02, 2015, 06:43:07 PM
 #4

Being in bitcoin is like having a wife that is a prostitute. Why do we subject ourselves to all this cheating and abuse.
inBitweTrust
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March 02, 2015, 06:52:11 PM
 #5

Between the cloud mining ponzi's , fractional reserve mining scams, and this ... do we really need any more reason to avoid buying mining contracts?

Seriously people , bitcoin has a huge credibility problem if we allow these crimes to persist and the only solution is to mine yourself and physically control your own hardware.

I understand that prices don't make this feasible to do for a profit at the moment but with enough people boycotting these scams we can drive down ASIC prices so hobbyists can afford to break even or make a small profit from a group buy. We also need to shun people who profit from these scams like those scumbags who get paid affiliate revenue for likely ponzi scam operations.

GermanGiant
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March 02, 2015, 06:57:36 PM
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Between the cloud mining ponzi's , fractional reserve mining scams, and this ... do we really need any more reason to avoid buying mining contracts?

Seriously people , bitcoin has a huge credibility problem if we allow these crimes to persist and the only solution is to mine yourself and physically control your own hardware.

I understand that prices don't make this feasible to do for a profit at the moment but with enough people boycotting these scams we can drive down ASIC prices so hobbyists can afford to break even or make a small profit from a group buy. We also need to shun people who profit from these scams like those scumbags who get paid affiliate revenue for likely ponzi scam operations.


The irony is, u r promoting Cloud Mining 101 in your signature, which predicted AM hash as a legit operation.
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March 02, 2015, 06:58:40 PM
 #7

lol

so much miss information in this thread
GermanGiant
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March 02, 2015, 07:02:09 PM
 #8

lol

so much miss information in this thread

If you have FC's pic, how about posting that in the thread ?
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March 02, 2015, 07:03:15 PM
 #9

last share price was about 0.008 x 3546000 = 2836.8 x 265 = $751752

at least be real with your figures if you are going to do this........
inBitweTrust
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March 02, 2015, 07:07:05 PM
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The irony is, u r promoting Cloud Mining 101 in your signature, which predicted AM hash as a legit operation.

I have been consistent with telling people to avoid all cloud mining from day one for multiple reasons regardless if a company seems legit or not.

With regards to Puppet's thread there is no irony if you bothered to read the disclaimer:

Disclaimer

being legit does not equal being a good investment. By and large, cloud mining has not been profitable historically, and I dont expect it  will.  I do not recommend you invest in (cloud) mining at all, but if you do, at least invest in a company that will actually contribute to securing the blockchain and is not extremely likely to just steal your money.

Also, being rated as legit here doesnt guarantee you anything. All it shows is that said company has provided reasonable evidence it is a real company and your investment is backed by actual hashrate. It doesnt guarantee they wont scam you, and it certainly doesnt imply anything about profitability.

Now stop promoting a likley ponzi, asshole.

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March 02, 2015, 08:21:16 PM
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The irony is, u r promoting Cloud Mining 101 in your signature, which predicted AM hash as a legit operation.

I have been consistent with telling people to avoid all cloud mining from day one for multiple reasons regardless if a company seems legit or not.

With regards to Puppet's thread there is no irony if you bothered to read the disclaimer:

Disclaimer

being legit does not equal being a good investment. By and large, cloud mining has not been profitable historically, and I dont expect it  will.  I do not recommend you invest in (cloud) mining at all, but if you do, at least invest in a company that will actually contribute to securing the blockchain and is not extremely likely to just steal your money.

Also, being rated as legit here doesnt guarantee you anything. All it shows is that said company has provided reasonable evidence it is a real company and your investment is backed by actual hashrate. It doesnt guarantee they wont scam you, and it certainly doesnt imply anything about profitability.

Now stop promoting a likley ponzi, asshole.

Shut up F**ktard. www.cloudmining.website has already given ROI within 114 days. Do your own research before passing statement...



Source: http://www.cmmonitor.com/24-cloudmining-website.html
inBitweTrust
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March 02, 2015, 08:29:27 PM
 #12

Shut up F**ktard. www.cloudmining.website has already given ROI within 114 days. Do your own research before passing statement...

Hey scumbag, thanks for the non-sequitur, but just because a cloud company gives a ROI to early investors (which is a relative term depending upon when growth starts slowing) doesn't mean that it isn't a likely ponzi operation. In fact that is exactly how ponzi operations work. Thus your ROI comprised of "mining" and affiliate revenue will be at the expense of latter victims.

What are you some sort of sociopath that has no concern over the consequences of your actions to others and the bitcoin ecosystem as a whole?

It is trivial for any cloud company to prove they actually have the hashrate that supports their mining contracts with the blockchain. The fact that they aren't doing this trivial and costless task that would get them more clients is very telling.

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March 02, 2015, 08:51:38 PM
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Shut up F**ktard. www.cloudmining.website has already given ROI within 114 days. Do your own research before passing statement...

Hey scumbag, thanks for the non-sequitur, but just because a cloud company gives a ROI to early investors (which is a relative term depending upon when growth starts slowing) doesn't mean that it isn't a likely ponzi operation. In fact that is exactly how ponzi operations work. Thus your ROI comprised of "mining" and affiliate revenue will be at the expense of latter victims.

What are you some sort of sociopath that has no concern over the consequences of your actions to others and the bitcoin ecosystem as a whole?

It is trivial for any cloud company to prove they actually have the hashrate that supports their mining contracts with the blockchain. The fact that they aren't doing this trivial and costless task that would get them more clients is very telling.

Though we are deviating from the actual discussion, I think it is important to counter your BS, so that more people do not get blinded by the Cloud Mining 101.

1. What do u mean by ROI to early investors for a company which has got only 4 months to run ? It has got 4 months and given ROI as per commitment. This is a FACT u can not deny. It has not closed door like CEX with people's money.

2. Regarding mining address to prove hashrate, CMW has stated several times that it can not be disclosed as they sell out their freshly mined coins to cover some expense. If they disclose the mining address, it would lose weight of the fresh coins in the market, which is quite a strong logic.
buyandhold
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March 02, 2015, 09:37:49 PM
 #14

My reading is that friedcat is the one who was robbed.

Silverspoon is an alt of NotLambchop, who is an alt of crumbs, all notorious trolls.

Still, excellent thread.
RocketSingh
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March 02, 2015, 09:41:53 PM
 #15

My reading is that friedcat is the one who was robbed.

Silverspoon is an alt of NotLambchop, who is an alt of crumbs, all notorious trolls.

Still, excellent thread.

But, who did the robbery ? Rock Xie ? Was not he the partner of Friedcat in AM hash ?

In any case, actual hardware stealing is a funny story for a cloud mining operation.

ujka
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March 02, 2015, 09:47:23 PM
 #16

My reading is that friedcat is the one who was robbed.

Silverspoon is an alt of NotLambchop, who is an alt of crumbs, all notorious trolls.

Still, excellent thread.

But, who did the robbery ? Rock Xie ? Was not he the partner of Friedcat in AM hash ?

In any case, actual hardware stealing is a funny story for a cloud mining operation.

No need to steal the hardware - just put a lock on the warehouse and reconfigure the mining address.
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March 02, 2015, 10:26:31 PM
 #17

My reading is that friedcat is the one who was robbed.

Silverspoon is an alt of NotLambchop, who is an alt of crumbs, all notorious trolls.

Still, excellent thread.

But, who did the robbery ? Rock Xie ? Was not he the partner of Friedcat in AM hash ?

In any case, actual hardware stealing is a funny story for a cloud mining operation.

No need to steal the hardware - just put a lock on the warehouse and reconfigure the mining address.

Does anyone know where AM hash warehouse is/was located ?

newIndia
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March 02, 2015, 10:34:45 PM
 #18

My reading is that friedcat is the one who was robbed.

Silverspoon is an alt of NotLambchop, who is an alt of crumbs, all notorious trolls.

Still, excellent thread.

But, who did the robbery ? Rock Xie ? Was not he the partner of Friedcat in AM hash ?

In any case, actual hardware stealing is a funny story for a cloud mining operation.

No need to steal the hardware - just put a lock on the warehouse and reconfigure the mining address.

Does anyone know where AM hash warehouse is/was located ?

I dont think anyone is aware of the actual location of AM's mining facility.

Meuh6879
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March 02, 2015, 10:57:19 PM
 #19

Quote



Will upload police report shortly.

Edit:  In light of Mr.Teal's comment, please disregard empty warehouse.  

Edit2:  Here's the police report.  Hope you can make out the text, only had shitty phone camera Sad



(sorry, had to redact some sensitive infos because privacies)




 Roll Eyes install miner ... without GRID and LOCKS (and ALARM) ... on a storage facility ... is not a good idea. Grin
inBitweTrust
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March 02, 2015, 11:22:10 PM
 #20

1. What do u mean by ROI to early investors for a company which has got only 4 months to run ? It has got 4 months and given ROI as per commitment. This is a FACT u can not deny. It has not closed door like CEX with people's money.

Please educate yourself to what a ponzi is and how they operate. They can run for years as long as there are enough new victims coming in to cover the older obligations.

2. Regarding mining address to prove hashrate, CMW has stated several times that it can not be disclosed as they sell out their freshly mined coins to cover some expense. If they disclose the mining address, it would lose weight of the fresh coins in the market, which is quite a strong logic.

This is a really pathetic rationalization. There are many ways they can prove they have the hashrate to cover their contracts without removing their ability to sell freshly minted coins for money laundering. They could have the asic manufacturer show a receipt or confirm the order, they could have a video walkthrough of their mining center, they could even temporarily prove their hash rate with periodic audits and any one time loss from not being able to sell those minted coins during the audit to drug dealers would be far more compensated by the fact that they could charge more per GH/s and sell more contracts with a better reputation.

I don't know whether CMW is a complete mirage or just fractional reserve mining , but both constitute fraud and will eventually leave many victims behind. That thread you disparage started with 0 examples of collapsed ponzis and now has at least 14 examples where our suspicions have been vindicated. CMW is likely on the brink of collapse and I doubt it will be around in the next 6 months. \

If you want to delude yourself and gamble with cloud mining fine.... but stop promoting this shit to new victims and spreading misleading information.

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