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Wdmine.net is the most basic of fraud ever seen on the web. Wd Mine claims that it will double your investments in 2 days (although this is contrary to what is announced on the homepage where they say you can double your money in 1 hour. We even tried out their alleged profit calculator and saw that they were selling hashing power for a very cheap price and projecting profits that can’t be earned realistically. Wd-Mine is allegedly dealing with Bitcoins, Litecoin, Dodegcoin, Litecoin, Dash and Reddcoin. They are claiming that their platform will assign you mining hardware for any of the coins that you shall choose for mining.
The first thing you should know is that no investor is currently mining Cryptocurrencies and doubling their investments in 1 hour. Even in 2 days, it is not possible to double your investments. It takes time to do so. But most importantly, most of these platforms are scams. A good example would be Wd-Mine which is an outright fraud. So do not expect to make any returns.
Having said that, we want to prove these allegations to make you see why you must never throw away your Bitcoins to this website.
Wd-Mine has a sales pitch that makes them sound like a scam. Any platform that claims to mine altcoins and is promising quick profits is definitely not telling the truth. Moreover, Wd-Mine is an anonymous operation as the website was privately registered some time in March 2018 to prevent internet users from identifying the owner of the website.
It’s not possible to make fast profits. Such kind of returns don’t exist in the Cryptocurrency mining world. They should be slow but sure. But that is, if you mine with a trusted site. Because you are trying to ”mine” with Wd-Mine, you can rest assured that no coins will be generated in return for your investments. In fact, the website even has a policy which warns investors against asking for their funds once they have been deposited into the site. The site owner basically says that the only way to get your money out of this website would be to mine Cryptocurrencies until it has reached the equivalent of what was ”invested”. Then you can cash out your money plus your profits.
But how exactly should you cash out using this method if the site is not even mining any coins in the first place? There is concrete evidence that no mining of altcoins is taking place here. Rather, what you will be seeing on your dashboard is fake money that cannot be withdrawn. We have also said that you must never trust any website that is not upfront with details of its owner. Wd-Mine isn’t saying anything about its owner, and it’s definitely not registered as a corporation. On top of that, they have not published their physical address either. So this makes the site 100% anonymous and risky to invest in.
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Think long and hard because the owner of Wd-Mine has a good reason as to why he wants to remain 100% anonymous. The reason is that they want to steal from you. Nothing more.
Well, if you want to detect a scam, just go to their profit calculator and do the math. For this site, we have found that a figures we are seeing on that calculator aren’t making any sense. For example, they claim that one can purchase 1Mh/s for $0.62. Therefore, 100Mh/s should cost $62. According to this profit calculator, $62 should earn you 0.0037 Bitcoins every day. That’s what we call too good to be true. You cannot earn those profits on any legit cloud mining platform on the internet. This website is only trying to prove that they are operating a pyramidal financial game. You should never believe stories that depict how you can make overnight riches. They are not real. And definitely any website that is making these claims is owned and operated by a scammer, hence the anonymity.
Wd-Mine has a page dedicated towards showing the numbers, i.e the number of current active users, what they have deposited and what they have cashed out so far.
Keep in mind that these numbers have not been verified, so we cannot take them as truth. Also, there is no way to verify that the payouts are real. This prompted us to conduct further investigations to try figuring out whether the blockchain transactions displayed on this page are real. We clicked ”proof” and were taken to a website called blockcypher.com. This website basically records all blockchain transactions in real time.
Indeed the various blockchain transactions registered on Wd-Mine are verifiable on Block Cypher. However, there is no way to prove that those transactions are linked to Wd-Mine users. In other words, Wd-Mine could be lying by giving us blockchain information that belong to other users and not those of their platforms.
So far, we have encountered a lot of red flags on the Wd-Mine. We do not doubt even for a second that Wd-Mine could potentially trick their users into thinking that they do mine Bitcoins when the truth is that they are only ponzi scamming them.
Wd-Mine has a 5% referral program meaning that anyone who refers a user to sign up will receive 5% from their deposit. This program further adds a layer of evidence to suggest that Wd-Mine is rather a ponzi scheme and not a legit Mining platform.
If you want to lose money to an anonymous website like this one, you are free to try them. But it is generally not worth losing even a small amount of money to scammers. You keep them happy for nothing. When you want to genuinely mine altcoins, you should consult any of these companies. Definitely you will have put your money into good use by doing so. Otherwise, refrain from using Wd Mine. It is run by super hungry scammers who won’t hesitate to keep your money.
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