Bitmain Accuses Cryptocurrency Mission of Impersonation

Cryptocurrency mining producer Bitmain has accused a cryptocurrency venture of falsely utilizing its identify within the promotion of a product dubbed Mangocoin (MNG).In an Aug. 9 weblog put up, 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, software and software program.Bitmain thus warned the general public that Mangocoin and its social media accounts, web site, software and devoted teams in messenger apps aren’t 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 the intention to shield itself and its customers’ rights, including:“We wish to remind our current and potential prospects to appropriately determine the service supplier when buying merchandise, to join 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 temporary particulars have been launched, concerned potential victims receiving calls from an entity dubbed “Monex Coin Administration.”

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