I didn’t want to write this. I still don’t! It’s embarrassing, and I feel like an idiot. But then I realized that I have a responsibility to step-up and speak-out. If it could happen to me; it could happen to others. So, as ashamed that I am that I allowed myself to fall victim to this scam, I feel it’s important that I share my story so others don’t have to learn the hard way. Do not invest in crypto currency or with Miner Options!
What is Crypto Currency?
One of the mistakes I made is that I invested in crypto currency without fully understanding what it is. Crypto currency is digital money, and bitcoin is one of the most popular types of digital currency. When it comes to paper money, government chooses when to print and distribute currency. With Bitcoin, special software is used to generate a mathematical block (information) that is then stored in a public database, known as the “chain.” People can use their digital currency to buy goods and services over the internet. The critical thing to remember is that crypto currency is not insured by any federal government and is extremely hard to regulate.
Miner Options
Screenshot of my Miners Options Account
I had a friend that was doing well investing in crypto currency. I trusted him. I had been his real estate agent for years when I was in real estate. He told me he would walk me through the steps and that it was relatively simple. He suggested I use a company called Miner Options. They use an investor’s bitcoin to trade on the foreign exchange. They promised big returns; like 30%. I ignored rule number 1; if it sounds too good to be true, it probably is. I bought $5,000 worth of bitcoin and then invested it in Miner Options.
What Happened
Over the next 30 days, I watched my investment grow from $5,000 to $6,696! I’m a pretty cautious gambler. I’m the kind of person that if I win $50 on a slot machine, I cash out and go home. So, I put in a withdrawal request for my funds, and that is when the trouble started. I was supposed to get my funds on the 2nd January, but the date came and went, and there wasn’t a deposit into my bank account. I logged onto my account to chat with a live representative. Imagine my surprise when the chat bot told me I had to invest $2,000 more to get my pay-out! I insisted on a phone number I could call so that I could talk to a real person. Suddenly the chat bot vanished.
The chat bot telling me I need to refer friends to get my payout
I called my friend. I asked him if he ever had a payout with this company. It turns out he had only let his funds accumulate and had never actually requested a withdrawal. When he tried to get a pay-out, he was instructed to do the same thing! I sent an e-mail to the support desk. It took days to get a response and then I was told to refer two people and then I would get my payout. Seriously? I wasn’t going to throw two people under the bus and recommend investing money in a company that wouldn’t honor its commitments to me as a customer. But I had to wonder, is that why my friend suggested I invest with Miner Options in the first place?
Lessons Learned
A screenshot of my payout request verification
It has been two months, and I still haven’t received my funds. There is no phone number listed on their website, just a live-chat option. They don’t have a street address either. E-mail responses are now non-existent, and the chat-bot is useless. It’s apparent that they have no intention of giving me my funds, even my original investment back. I’ve unsuccessfully tried to find a street address for them. All of these things should have been giant red flags, but in my initial enthusiasm, I didn’t even notice. Always check for a valid phone number and registered street address at a minimum before doing business with any online company.
What’s Next
Now I begin the process of reporting them for fraud to the appropriate agencies, but because I don’t even know what state or country might have jurisdiction, I’m not sure where to begin. In any case, I’ve been scammed, and it’s a painful lesson. I don’t recommend investing in crypto currency. It’s unregulated and risky. After doing some research, I’ve found thousands and thousands of people have stories like mine, but it doesn’t make me feel any better.