Mining City’s original shitcoin, Bitcoin Vault (BTCV), is currently sitting at around ~$17. Worse still, BCTV investors through Mining City are receiving cents a day.
Mining City @ BehindMLM
A CloudBest employee has revealed BehindMLM’s ongoing coverage of fraud has left Mining City feeling “humiliated”. On June 3rd Wojciech Orych, who identifies himself as an Information Security Analyst, wrote in requesting information on BehindMLM (emphasis mine).
In an email sent out to its investors, Mining City claims a “fake app” somehow has access to the company’s affiliate database. From a security standpoint, this makes zero sense.
Mining City has dropped its mining revenue facade. The company is now paying fixed returns on a schedule. Mining City’s fixed returns are being marketed as “payment plans”.
With their previously launched Bitcoin Vault Ponzi coin failing and affiliate recruitment down, Mining City has announced a new Ponzi shitcoin launch. Electric Cash was initially announced on Mining City’s social media accounts on December 12th. The announcement was made by Mining City CEO Gregory Rogowski. Electric Cash, like BTCV, is being developed by Mining [Continue reading…]
The Ontario Securities Commission has issued a Mining City securities fraud warning. The OSC added Mining City to its warning list on December 14th.
Following publication of our “Mining City lying about Philippine SEC registration” article earlier this week, I’ve had Mining City corporate emailing me to insist the SEC’s own information is wrong. That discussion has now come to a head, following confirmation from the SEC that Mining City is a Ponzi scheme.
Yesterday BehindMLM published an article exposing Mining City lying about being registered with the SEC. Within hours of the article going live, “Media Mining City” sent us a response email.
In a recent Mining City webinar, CEO Gregory Rogowski claimed the company had obtained an license with the Philippine SEC. As per correspondence received by the SEC after the webinar aired, the Philippine SEC have confirmed Mining City remains unregistered. Not only that, the regulator appears to be building a case against local promoters.
Mining City has received a securities fraud warning from the Philippines SEC. The Philippines SEC has identified Mining City as a “security in the form of (an) investment contract”.