Mutualhash.com is stealing people’s Bitcoins by running a ponzi scheme behind the curtains and at the same time claiming that they are mining Bitcoins. Mutual Hash is basically another ”me too” Cryptocurrency ponzi scheme whose admin thinks he will be lucky enough to collect as many Bitcoins as possible. They are targeting beginners who have spendable Bitcoins in their wallet. In fact, the minimum is $10 and the site even claims that they will generate between 10-12% per day for 12 days.
On their website, Mutual Hash claims that they are providing hassle-free Cryptocurrency mining investments and a lucrative partnership program to complement it.
On top of that, Mutual Hash is accepting popular Cryptocurrencies for payment and claiming that they will process withdrawal requests instantly.
The legal entity behind it is MH CLOUD LTD. Their registration number is 11135179. According to Companies Houses, this entity was incorporated on 5th April 2018. The person in charge of MH Cloud LTD is called DYER, Craig, who is allegedly the director of the company in question.
Other than this, there are no other people associated with Mutual Hash. In fact, the website does not provide any identifying information about who runs or owns this entity. Instead of providing information that can lead to identifying the persons in charge of Mutual Hash, they are giving us details of the alleged corporation behind it. The alleged director has no information about them outside the companies houses platform. Besides, we can’t verify whether this person has any experience in the Cryptocurrency investment space. So far, all entities supposed to be in charge of this website are 100% anonymous.
If you want to mine Bitcoins and other altcoins genuinely, follow this link. Forget Mutual Hash website because of the reasons we will cite below.
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The site labels itself as a ”lucrative investment destination”. But it does absolutely nothing to prove that they have data centers from which mining is taking place. In fact, there is no evidence at all that Mutual Hash is mining Bitcoins.
10% per day is an impossible to earn ROI. 12% is ridiculous. These contracts are generally short term. They expire in 12 days. These numbers show that this platform is a valid ponzi scheme and has nothing to do with mining of Bitcoins.
The domain of this website was registered some time in January 2018. However, the statistics section of this site depicts that it is only two days old since the data of launch. This might suggest that these scammers are too lazy even to go through their website to correct mistakes that might possibly exist. Also, these stats always remain unchanged. As you can see, they are suggesting that in just 2 days, the site had acquired over 700 investors. That is a big fat lie. There is no way a site like this can attract 700 registered users in just 2 days.
Now that the site has not proved that it is mining Cryptocurrencies, there is concrete evidence that they are operating a ponzi scheme. Their so-called partnership model is basically a referral program that purports to compensate investors 6%, 4% and 2% respectively. This further adds another layer of confirmation that we are actually dealing with a ponzi scheme. Once there is a referral program in place, it means the admin is running a binary compensation structure where members are supposed to earn commissions based on their position.
This might suggest that Mutual Hash is selling two membership plans. There is no product or service behind this website. Mining is not in the picture here. The only product being offered is their membership plan where affiliates can join for free to earn commissions or pay a minimum of $10 to start ”mining” Cryptocurrencies.
The site has provided their alleged proof of payment on this page mutualhash.com/payment-proof. You will notice that this is just a separate page on the same Mutual Hash website. It is not a platform where blockchain transactions are verified.
In other words, what you are seeing on that page are fake blockchain transactions. It does not show any proof that Mutual Hash pays. We cannot believe it.
Seeking credibility by registering Mutual Hash as a corporation does not really make them genuine. Instead, it is making them look really bad in the eyes of investors who know how to detect scams.
It is an illegal company because they are collecting funds from members of the public with the promise that they will invest and return up to 12% per day. Since they are registered in the UK, they should have authorization from the FCA. So far, there is no licensing information anywhere on this website.
Think about this: if the website has no licensing information and is being operated anonymously, then nothing can prevent them from scamming you, right?
Also, 12% per day would be 360% per month. True Cryptocurrency cloud mining cannot generate such returns. Although mining is profitable when combined with let’s say trading of altcoins, you should never expect outrageous profits. Anyone who tells you otherwise is clearly planning to scam you.
Mutual Hash is therefore a ponzi scheme. Ponzi schemes promise returns based on what depositors inject into the system. However, this is something they won’t tell you in upfront. They will masquerade as Cryptocurrency cloud mining platforms when they are not mining but simply building a pyramid scheme to attract more investors. Once the admin has collected enough funds, he can simply do the run away with all the money. Think about the spectacular collapsing of Bitconnect. Mutual Hash has implemented this model and will soon collapse because the failed Bitconnect proved so.
Mutualhash.com has nothing to do with altcoin mining. But they have everything to do with ponzi scheming where they pretend to be mining altcoins when they are only collecting funds and distributing a small portion of it back to the ”society”. Beware that such a website is a risky scam to send your Bitcoins to. Avoid this cheap fraud.
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