Power Mining Pool collapses after securities fraud cease & desist
On March 7th the Power Mining Pool website went down.
Here’s the explanation given to Power Mining Pool investors at the time;
We are updating our server to a much faster and powerful server and is taking longer than we expected, so please be patient with us. Thanks.
Nine days later and the Power Mining Pool website is still down.
A visit to the Power Mining Pool website today shows the domain has been disconnected from the company’s hosting.
The Power Mining Pool domain is currently “parked” with the registrar provider, NameSilo.
With the Power Mining Pool website going down the day after the cease and desist was made public, naturally investors began sounding the alarm.
Here’s what Power Mining Pool fed their investors while the admins quietly disappeared with their money;
March 8th – Please, we are not running away. Things are just getting out of control here and we are working on them.
Hopefully, by next week, we will be back and update you all on what was going on.
We are really sorry for the inconvenience. Thanks.
March 8th #2 – We will be updating you guys soon. Thanks for your patience and be positive about us.
We really appreciate it and we will be back soon with updates on what was going on.
March 8th #3 – We are coming back and No, you haven’t lost your money.
Hopefully next week the site will be back online.
That was the last known communication by Power Mining Pool to the company’s investors.
No explanation as to why things got “out of control” or how was ever provided. Messages left by desperate investors wondering where their money went, most of whom are believed to be in the US, have gone unanswered.
Given the timing of the Power Mining Pool website going down, by now even to the most ardent of Ponzi supporters it should be obvious as to why.