UK Court Shuts Down BTCMining Over International Fraud Claims

BTCMining, a UK-based cryptocurrency cloud mining platform, has been ordered to cease operations by the Manchester High Court following serious fraud allegations, according to PANews. The company, founded in January 2024, is accused of misleading investors across multiple countries by promising returns it failed to deliver and preventing clients from withdrawing their funds.

A probe by the UK Insolvency Service uncovered several violations, including the use of a fake registered address, the disappearance of the sole company director, and the abrupt shutdown of its website. Reported losses from victims in countries such as Estonia and Mauritania have already exceeded $18,000, though the true extent of the fraud may be greater. The court issued its closure order after a hearing on April 28.

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