Colleagues, crypto mining has
been overwhelmed with illicit cybercrime from within and without. The
sentencing of GAW CEO Josh
Garza is simply the latest assault on the dubious mining sector. The crypto
mining sector consists of three components – ASIC vendors such as AMD and NVidia,
legitimate mining firms like Bitmain and the rather amorphous niche of mining
services resellers. GAW falls into the mining services niche. In fairness to
all, there are legitimate mining services firms such as Genesis, Hashflare, Eobot
to name a few (visit Tech
Radar for a more comprehensive list). GAW’s downfall was due to greed –
pure and simple. Reseller more services than it actually had under contract was
a classic Ponzi scheme. We have extensively reported on the onslaught of cybercrime targeting
the vulnerable mining sector …, which was pervasive in 2017 and has reached
epic proportions in 2018. Bottom line: Buyers beware. If you want to
participate in the attractive crypto mining space a double [portion of due
diligence in a necessity. Verify the firm’s background, Board of Directors,
investors, check for any complaints filed with the US FTC or US SEC, have a legal expert
review their terms and conditions, and speak directly with current customers
large and small regarding the firm’s stability. Share your thoughts today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)
Our mission is to provide Training and Certification programs to enable Cryptocurrency, Blockchain and FinTech traders and investors worldwide to achieve their career goals.
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