Bitmain Accuses Cryptocurrency Project of Impersonation

Cryptocurrency mining producer Bitmain has accused a cryptocurrency challenge of falsely utilizing its identify within the promotion of a product dubbed Mangocoin (MNG).

In an Aug. 9 weblog publish, Bitmain states that it got here throughout a fraudulent use of its model within the sale of a product dubbed “Bitmain Cloud Miner” and within the promotion of Mangocoin. The fraudsters allegedly masqueraded as Bitmain and promoted the merchandise on their web site, utility and software program.

Bitmain thus warned the general public that Mangocoin and its social media accounts, web site, utility and devoted teams in messenger apps usually are not the corporate’s enterprise channels or platforms, noting that Bitmain doesn’t stand behind MNG as its developer.

The corporate additional says that it has taken authorized motion with a purpose to defend itself and its customers’ rights, including:

“We want to remind our current and potential clients to accurately determine the service supplier when buying merchandise, to enroll in or buy something on-line solely after cautious deliberation and keep alert to deceptive promotions, unlawful fund-raising, fraud and different malicious actions on the web.”

As reported in late July, cyber criminals had been sending rip-off emails claiming to be from the UK’s Monetary Conduct Authority and selling crypto property investments. 

In January, Japanese on-line dealer Monex Group, the proprietor of hacked cryptocurrency trade Coincheck, warned of a brand new rip-off claiming to be associated to its enterprise. The rip-off, about which solely transient particulars have been launched, concerned potential victims receiving calls from an entity dubbed “Monex Coin Administration.”

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