How I Lost $300,000 to Bitmain Bitcoin Miner Scam

48 comments

  1. Tajaba - Reply

    Whoever the OP is, I have to just kindly say: If you think Bitmain is a scam, you’re either incredibly stupid or mining is probably not for you. I don’t profess to love them since they are truly a unique case of the most douchebag-ish company in existence. But that does not make them scammers. But hey! who the hell cares about the truth when misinformation actually makes money. Carry on

  2. va1kener - Reply

    a lot of people in China believe you can only get rich by scamming. it’s sad that a lot of people believe this

  3. Obamurri - Reply

    > I went to my lawyers and I was informed that I can’t fill a case against Bitmain in my country because it will not be recognised in China. Now I am in contact with a Chinese Legal firm to see what can be done.

    LMAO. BTC is pretty much controlled by China these days. Be very careful.

  4. GarlicBelfort - Reply

    So let me get this straight. You buy $300,000 worth of miners from a company in China with no previous experience of importing hardware.

    I mean come the fuck on.

  5. Rishodi - Reply

    How did you not get an invoice? I have ordered from Bitmain many times, and have always had invoices delivered to my email automatically. The same information is also accessible from your order history on their website.

  6. chazzming - Reply

    That’s just useless fiat. I wouldn’t worry too much about it. Pick up some of zillion cryptocurrencies that are popping up all over the place, and you be just tine.

  7. ShooDooPeeDoo - Reply

    This “article” is more of a poorly written complaint. Supporting docs, proof, names, titles, emails would help me consider this as anything but FUD.

  8. PabloW92 - Reply

    Pretty weak article to be honest. No proof whatsover. Not that I like Bitmain or anything like that, but this is just pure FUD…

  9. Teearohwhy - Reply

    Yeah, I’ve ordered from Bitmain several times and haven’t had any issues. I know they are the evil empire but to be competitive you really have no other options. Without any documentation its hard to chalk this up to anything but user error. The trakcing number is listed on the invoice, not seprately in my experience. How are you going to accept a shipment of 200 antminers? Do you have a forklift?

  10. Andriuddit - Reply

    Of course they scam, if Bitmain was a legit company they would offer legit payment options like Paypal and credit card. For the buyer crypto is the worst payment method online – zero buyer protection whatsoever.

  11. Emperor-Awesome - Reply

    I can’t say that I’ve ordered in the quantity that the author did, but have still bought plenty of antminers. The overall value of the shipments were always enough to require me to fill out a customs clearance form.
    I’m not saying bitmain is a great company, they have less than stellar quality control, change their payment policy frequently, and charge based on the current value of a bitcoin, which is unethical; I’m excited to see a growing number of companies working on asic hardware this year.
    Having said that, the author’s poor writing, hysterical tone, and implied misunderstanding of import protocol all makes me reluctant to put the blame on bitmain in this instance. Not only do they always provide invoices (even if it is usually after the ship date), but those same invoices need to be provided to the carrier in order for the shipment to be made, and I have a hard time believing UPS or FedEx just picked up 400 boxes and moved them out of China without any paperwork.
    Furthermore, while I never looked up the trustpilot score of bitmain prior to reading this post, the only legitimate complaints I could find were in reference to bitmain’s poor quality control and history of selling used hardware as new. These practices do not reflect well on a company of their size, and I sincerely hope that when 7nm miners are on the market I have the opportunity to purchase them from samsung, gmo, or some other company. I’m still gonna have to call bullshit on this guy’s complaint from what I was able to read in his meandering, childlike scribbling.

  12. pictogasm - Reply

    tl;dr – FAKE FAKE FAKE.

    ———————

    So let me make sure I understand exactly what happened here. You have managed to save up $300k which is no trivial task, yet you have zero knowledge about getting large commercial international deliveries of electronic products through customs in your country, you have zero business sense that would know that customs and imports are always a complicated issue, yet you blindly order a very large shipment of product, and it is somehow the shippers fault if the product was seized by customs, stolen by customs (entirely likely in far too many countries), or just rejected by customs.

    Why the fuck didn’t you buy, oh I dunno, ONE fucking s9, get THAT delivered and working, then order, ohhh let’s say 10 more, and THEN knowing that you can get 10 at a time, just place 9 more orders for 10 units each, once after the other.

    Or better yet, fly your ass to china and take delivery and then personally ship them to yourself with an insured carrier like DHL?

    I personally think that NOBODY who has accumulated $300k is stupid enough to actually do this, stupid enough to not drive his ass down to customs and deal with the import issues…. this is almost certainly FAKE.

  13. CBatis - Reply

    Sounds like you need commercial invoices to clear customs. Once CI is provided they determine inbound tax/duty based on the products HTS codes. Pretty standard for an electronics order of this size to get held up in customs as they’ll assume they’re going to be resold.

  14. Bauuzer - Reply

    I’ve always wanted to get a miner from Bitmain … guess now I’ll look elsewhere. Any good options?

  15. JosephNor1 - Reply

    Oh my God! I’m so sorry man! Can you give us some probably LTC wallet? I will be willing to send you something for your loss and I’m sure I won’t be the only one. We should stick together in crypto against these **************..

  16. Seccour - Reply

    Why do people upvote that shit ? No sources or proofs. Guys it’s not because it fit what you think about Bitmain that you should upvote shits like that. Because you’re also harming the whole sub by doing that.

  17. Exxe2502 - Reply

    Getting a lawyer in China? Good luck with that.. there is no effective legal system in China. Lived there 30 years..

  18. Canadurrp - Reply

    They are well known for say mining with the S7 then when they have the S9 ready they sell the S7 as if they are the latest and mine themselves with the S9.

  19. rivierafrank - Reply

    Seems to me this person is somewhat idiotic. Bitmain ships the miners through DHL for example. All customs are done and you pay for it. The “invoice” thing makes no sense because bitmain sends a valuation for the order to DHL, which uses in custom clearing.

    It seems this idiot person decided to self-clear (to save a few $ ?) customs. Of course you need an invoice. So you log into your bitmain account (OR WHEN YOU ORDER, YOU PRINT THE RECEIPT), and see your orders. click on that order. hey look, AN ORDER.

    PRINT AND SEND.

    WHAT IS THE FUCKING PROBLEM.

  20. Wizera - Reply

    its not a scam they tell you when you pick the cheap shipping service that you could have issues with the government export inspection and fees .so always pay the for UPS shipping its more expensive but you will get your antminer.

  21. SEND_ME_DOG_PIKS - Reply

    Why is this being upvoted? This is a shitty article with no proof. You get an invoice on their site as soon as you place the order, and you get an email. I’ve purchased like 15 machines in the last 3 months from bitmain.

  22. neekoriss - Reply

    I’ve ordered from bitcoin 4 times now and am pretty familiar with the process. I don’t think OP is necessarily lying, but here’s what probably really happened:

    OP orders miners, pays the total amount up front in either crypto or bank transfer (back when they used to accept bank wires). OP can easily check order status by logging into his account on Bitmain’s website. Two months later the miners ship. Once they reach the states UPS, fedex, or whichever company is shipping would call OP because he has to pay duties when importing products worth over $1500. They ask what the value of the miners are. OP says he doesn’t have “invoices”. However if he really needed an invoice he could easily view and print his order by logging into his bitmain account. On my small order they called, i told them what i bought it for, paid the duties, and no invoices had to be shown. perhaps US customs needs more proof on bigger order. For whatever reason, maybe a language barrier, maybe ignorance, OP can’t provide invoices, doesn’t pay duties (200 miners at about $50 a piece = $10,000 out of pocket) and the shipment is sent back to bitmain. once they arrive they are sold quickly to someone else. (they frequently sell out quickly and buyers usually have to order two months ahead of delivery).

    when OP contacts bitmain he’s super pissed, probably a bit rude. Bitmain at this point can either A. go out of pocket to ship him miners a they don’t have in stock a second time or B. Say they delivered, delivery was refused, and there are no refunds. They’re both to blame

  23. Shuffle4 - Reply

    I ordered s9’s from bitmain. I got my miners. I even had to return one. got that one back too when it shipped. I don’t doubt that they could have problems I just find it hard to believe they attempted to purposefully scam this guy.

  24. dfifield - Reply

    It’s your fault to be honest, you have to pay attention when you are moving money,even more now, when are scam in every corner .

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