The USDTmining fake mining pool was flagged up to me by an unfortunate victim of a completely unrelated scam.
USDTmining purports to offer a service that allows users to connect to liquidity mining pools in order to generate large profits over a short period of time. However, it’s impossible to mine USDT (Tether).
When you visit the site it automatically opens a dialogue box prompting you to connect a crypto wallet to the service through Coinbase Wallet or MetaMask – a automatic red flag.
Until you’ve done this, there’s no way of using the site, other than clicking a couple of drop-down info boxes containing a paragraph or two of illiterate text.
Here’s an example:
'How is income calculated? After you join successfully, the smart contract starts to calculate your address through the node and start to calculate the revenue' How does the USDTmining scam work?
In order to start mining you need to deposit funds and, no surprise here, to increase your profits you need to deposit more!
It’s a scam that’s been doing the rounds for a while now under various guises, but it appears a lot of people are still being sucked in.
A few days after depositing funds you’re told you’ve made an impressive profit.
You’re either asked to deposit more to increase your rewards or, if you try to withdraw your ‘profits’, you’re told you need to pay a tax or commission of between 10-20% to get you cash.
Unfortunately, the victims of this scam will never see their money again, and certainly not the profits as they aren’t real.
Any further money you send purportedly to release your money will disappear along with the scammers, who break off contact once investors start refusing to part with any more cash.
How can I tell USDTmining is a scam platform?
Like many scam sites, there are numerous red flags that reveal USDTmining to be fake.
These include:
- Automatically trying to connect to your crypto wallet when you visit.
- The promise of huge profits in a short period of time.
- New domain name with hidden registrant details.
- Immediate demands for cash/crypto as a deposit.
- The lure of greater rewards the more you send.
- Illiterate text with no meaning and very little info on the site.
- ‘Partner’ links are not clickable, nor is an alleged audit report.
- Poor reviews online, with plenty of people pointing to it being a scam.
- The general look and feel of the site – it’s clearly not professional.
- The name in the tab text is different to the web address.
No. Don’t send them any money as you’ll never see it again. This is 100% a scam and if you engage with the platform the demands for more money will continue.
If you have sent money and are hoping you’ll recover your losses by paying additional fees, please don’t.
It’s difficult to let go in situations like this, but you’ll only increase your losses if you continue to send money to the scammers.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.