SKP Mine Review: Is Cloud Mining with High Risk or Legit?

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SKP Mine Review: Is Cloud Mining with High Risk or Legit?

SKP Mine is a cloud mining platform operating as a mobile app for investors. Our candid review will highlight some of the features and high risks involved.

Anonymity is the name of the game when it comes to shady investment platforms and service providers. You need to stay informed and be alert in case such services offer high ROI margins in a matter of hours.

How SKP Mine is defrauding investors

SKP Mine is no different, the platform guarantees daily profit margins through its cloud mining app. As an investor, you have to ask yourself a few questions regarding the services on offer and the end game.

Yes, every investor wants an opportunity to stay ahead of the investment world by ripping huge rewards. That’s not the case here as the platform rarely gives proper information on the type of services offered.

And this is where we have to toe the line with facts and unrealistic profit margins. Where does an investor stop and start asking questions? Our SKPMine review will give you insights into what to expect with such platforms and how to spot high-risk cloud mining platforms.

Apart from offering cloud mining and staking opportunities, the platform also has an affiliate program. With this program, investors are to bring in other investors for a chance to earn bonuses and commissions.

Find out more in our candid SKP Mine review.

About SKP Mine

What most investors don’t know about this platform is the people behind it. Anonymity is one of the high-risk factors to look for in any investment platform. You need to know who is held responsible for funds on the platform.

Our investigation revealed the platform is operating under several Chinese scammers. Bowen Caihong is the brains behind SKP Mine and is a close associate of the ‘Smishing Triad’ online cyber-crime group.

Some of his other notorious crypto scams include FancyCrypto, IDMining, and NFTProX. Bowen has been targeting investors from the Middle East, New Zealand, the UK, and South Africa.

With the latest cloud mining scam, Bowen now targets several Asian investors including those from the Philippines and Taiwan. Other European targets include Italy, Poland, Spain, and Sweden. There have been complaints everywhere from his previous scams.

Authorities in the UK are in hot pursuit of Bowen and his team with evidence pointing to Vietnam as his hiding place. There’s every reason to believe SKP Mine is on the verge of collapse after complaints levels remained high.

The app doesn’t stop there as it also offers staking services which are a mirage of the data mined. SKP Mine is using the app to mine personal data for users who download the app. Statistics show the platform has mined personal data in Egypt, Indonesia, Russia, and Turkey.

With Bowen having a large network to rely on, he has managed to scam over $6 million. And it doesn’t stop there as the funds are used to create other cloud mining scams. The question remains, how can you protect yourself from such platforms?

How to spot high-risk cloud mining platforms like SKP Mine

Most investors get pulled in on these projects merely due to the high profit margins claims. These apps will offer daily guaranteed profit margins which will drive most investors insane. We see investors depositing their life savings just to double them within 5 days.

That’s highly unlikely even with the most successful banking institutions. Investing doesn’t work that way and the high profit margins should be the first indicator of a scam. If the platform was that successful we would all sign up.

Another question you need to ask yourself is why the platform would ask for a minimum deposit of 10 USDT. If the platform would double funds within a couple of hours, why go for the smallest possible amount? is a high-risk cloud mining app

It goes to show the net spread by Bowen and his team as he seeks to get just about any investor looking to get rich quick. The trap is set thanks to the high profit claims with investors having to later realize it was all a con.

Bowen lives lavishly thanks to the funds sent by naïve investors. He hopes from one country to another especially after committing financial fraud. His latest escapade was in Spain with authorities looking for his headquarters.

It emerged that he had hired Chinese immigrants to create the IDMining app used to scam millions of European investors. With this in mind, several European financial regulators issued a warning and a warrant of arrest.

Victims have been running around for months looking for ways to recover funds from Bowen. With every cloud mining project, he switches contacts or makes the entire project wind up without informing investors.

Scammed by

After perusing the app, we do know Bowen’s end game as he has used this strategy countless times before. We will expose his antics from the moment he convinces naïve investors to sign up with the cloud mining app.

Once you deposit funds, Bowen’s assistants will move to use backend access to double the account balance. Please note the entire amount of funds deposited go to a private wallet owned by Bowen and his team.

And as such, he uses the dummy or rather demo app to fool investors into thinking they are indeed mining crypto. What’s funny is that Bowen fails to mention any cloud mining station he has or even their location.

There are several cloud mining options on offer, including Bitcoin, Ethereum, and Ripple. Investors don’t get any information on the cloud mining farm or the number of ASIC miners used to mine.

Thanks to the lack of information. Bowen manages to convince prying eyes via support of his good intention. With a rising account balance, he manages to convince investors the cloud mining project is a success.

But wait a minute, no one gets to withdraw funds. And if they do, they only withdraw partial amounts, not the entire vested amount or account balance. Bowen moves for the kill by claiming he has bumped your account to a more profitable tier.

At this juncture, he knows whether the investor is all in or all out. You have to deposit more funds to start enjoying the promised higher ROI. For the many who fail to add deposits, Bowen moves to block access to their accounts.

Customer Complaints, Experience, Feedback, Ratings, and Reviews SKP Mine

For a project claiming to offer much in terms of daily ROI, there’s little to no positive feedback from investors. It’s clear the platform fails to live up to expectations as most investors end up losing a large chunk of their investment.

Reviews and Testimony SKP Mine

As a rule of thumb, we encourage investors to do due diligence and search for investor commentary on such projects. Try and find out what other investors have gone through with the platform before committing.

Is legit or a high-risk (scam) cloud mining project?

Based on the facts we have, we have no doubt SKP Mine is a high-risk investment project. Those who deposited funds are now crying foul after several failed attempts of withdrawal. Bowen is moving on and is about to close the entire project.

Verdict SKP Mine

After confirming Bowen is behind this platform, we recommend you stay away. SKP Mine is a high-risk no-reward cloud mining platform.

Do yourself a favor and invest in proven and tested cloud mining projects backed by the crypto community.

If you have any comments or queries, please leave a comment or email us.

Have a safe investment journey with cloud mining!

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