Have you been using Bitmain’s Antminer hardware to mine your Bitcoins? The hardware from Bitmain is some of the most popular in the world when it comes to mining cryptocurrency, and it is often the go-to option for miners both new and experienced. The Antminer S9 is one of the most commonly used pieces of mining hardware, and it has a great reputation as being very dependable and easy to use. Naturally, when there was word that supposedly came from Bitmain that a new machine, the S11 would be hitting the market, it got people excited.

However, it seems as though not is all as it seems.

The Scam

Given the fact that people who are mining cryptocurrency with Bitmain devices already know and trust the company, many did not think that it was entirely out of the ordinary to get a phone call from the company. Many people who already had Antminer S9 machines running were called and told that they were selected to essentially have the first shot at buying the upcoming S11. The phone number used appeared to be from China, which is where Bitmain is located. The people who called also had the name of the customer and knew that they had ordered and were using Antminer machines already, so it seemed legitimate at the time to the people who received the call.

The associate on the phone simply wanted to know if they might be interested and did not ask for any money at the time. Instead, they said that the customer would be receiving an email in a few weeks that would provide them with more details about the machine and about the price.

A few weeks later, the customers who were contacted by phone then received an email. The email contained the details of the S11 and how they could make their purchase. It claimed that the new devices had more than five times the hashing power of the current units, and that the units would only cost a little over $2,000. They had shipping dates for those who ordered by certain dates, and to those who are not overly discerning, it seemed like it could be legitimate.

However, there was no way that a machine that was suddenly five times as powerful as the S9 would come onto the market out of the blue – and without any other real marketing effort for that matter – and only be $2,000. By this point, people – at least most people – were starting to catch on that something was amiss.

Bitmain’s Response

This scam had spread far enough and wide enough that Bitmain caught wind of it and addressed it. They sent out information to their customers letting them know that this was not true. They do not have an S11, and they do not plan on making one at any point in the near future.

While it is nice that the scam was addressed, it does cause many customers to question just how someone was able to access their customer information from Bitmain and use it against them in the scam.

Always Be Wary

Whether you are dealing with new cryptocurrency hardware or you are buying a Bitcoin Colocation, you have to do more than just look for great deals. You need to be wary, and you always need to make sure you are buying legitimate merchandise from actual sellers rather than scammers. The Internet is still a wild and dangerous place, and there are plenty of people out there who are more than willing to con you out of your hard-earned money.

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