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Report: #1492677

Complaint Review: genesiscryptominer -

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  • Reported By: MF — United States
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genesiscryptominer Bitcoin mining pricing fraud!!

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I was approached by an account manager from this company (genesiscryptominer), advising me to invest in Bitcoin mining. Of course, never invest with funds you can't afford to loose. She gave me the website, and explained their were four investment plans; starter, premium, deluxe & vip. I said I do not have much to invest, so I'm ok with the starter plan for $250 worth of bitcoin. She said your investment would grow faster at the premium level for $500, and once you invest, you could never loose your funds because it's always growing.

I was skeptical. We exchanged several emails before I said ok. She explained to how to use a Bitcoin ATM. After a week or so, she said you have to double your funds before you will see growth. I said no, I want to see profits before I invest anymore. She kept insisting that I invest more, so I did. The website does show that my account has solid profits.

Then, the company sends an email saying, because the system overmined your account, you have to pay a $3200 electricity fee before you can withdraw funds, or continue mining. They did not explain anything about an electricity fee before I invested. Only fee they talked about was the company charges a 20% fee of the profits, which I am ok with.

So I emailed the acct manager, and the company's support, to close my account and return my initial deposits. I said you can keep my profits. They said, we cannot return your deposits until you pay the $3200 electricity fee. And if you don't pay that fee within 10 days, we're charging you a $42 late fee. So they froze my account. I don't expect to hear from them again. No worries, it's not the first time I've lost money, won't be the last. Just wanted to report this scam from this shady company.

 

This report was posted on Ripoff Report on 03/07/2020 08:14 PM and is a permanent record located here: https://www.ripoffreport.com/report/genesiscryptominer/bitcoin-mining-pricing-fraud-1492677. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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