Hashleak Bitcoin Cloudmining is a service that we recently came across and would like to present to you what the owners are up to so that you make up your mind if it is worthwhile to purchase a mining plan with this outfit.
As you are aware, cloudmining services have become quite common that many investors wonder how they can locate a legitimate operation. The fact is that there are very few operations that you can vouch for. However, mining, especially cloud-mining is not a venture that you should expect to make you rich in a short time.
Usually, cloudmining services require that the investor buy hashpower and earn returns based on the amount of hashpower bought. This means that you must put in high volume of funds to reap big profit, but there are hazards.
The main harzard with cloud-mining investment is in knowing how reliable the mining operation is. In fact, there are many sites that pose as miners but they really are fraudsters poised to steal the bitcoins or other coins that belong to the investor.
What is Hashleak?
This is one of those sites that are concise and to the point. This particular site claims that it is a cloudmining operation that that takes care of all the worries of the investor. All they need do is choose a mining plan and watch their assets grow in a short time.
The site made further claims that the user would gain ownership of the hardware over time despite the fact that what they bought is a cloudmining plan. This may well have set it apart from the routine promises made by most sites in this line of business.
However, the site promises that there is no need for the investor to bother about the hardware since they would maintain it and pay out profit at specified time to the participants of the investment scheme.
In essence, the investor purchases a part of the mining power while the day to day running of the mining operation and the maintenance of the hardware is the responsibility of the company.
How Reliable is Hashleak?
Even though there are many reliable mining operations in the industry, it is worthy of note that there are many others that are run by unscrupulous individuals with the sole purpose to steal from the investors.
Getting to identify fraudulent cloudmining operations is not too difficult. The Securities and Exchange Commission stated on its website:
“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.
After the investors make an investment, typically using a digital asset such as Bitcoin, the fraudsters in some cases stop communicating with the investors altogether.”
What is the implication of the above in our review? For a cloudmining operation to be deemed genuine, there are basic features to look out for. The first should be the people behind the company and the promised returns.
Bear in mind that fraudsters usually use high ROI as stated by the regulator to lure investors into buying their mining plans. After sending your digital assets to a scammer, there is little you can do but hope that you’ve not made a mistake.
However, looking at the features of Hashleak, the first indication that this is not a site that you should trust is the instant connect feature which claims that
“The mining starts immediately after confirmed payment. First payouts within 24 hours.”
That statement is enough to show an experienced investor in cloudmining that this site is not reliable. This is because there is no possibility that a genuine mining operation would have generated enough profit to pay you in 24 hours after your first deposit.
Mining is not as profitable as it was 8 years ago when it was not too difficult to mine bitcoins. Then, you could even do it on your PC but not anymore due to increased difficulty and need for more advanced mining equipment.
Another claim on the site stated that mining operation is too easy. This is a false statement meant to give the impression that the investor is about making easy money. The reality is that there is no easy money to be made. Putting your funds in this site would most likely cause you losses.
Mining Prices Out of Tune with Reality
As stated earlier where we made reference to SEC site, any claims that a mining operation or any other investment makes that you could earn an unrealistic profit is a sure sign that the operators are fraudsters.
The Hashleak mining plan starts from 8 percent to 22 percent profit in 24 hours. You do not need a special warning to understand that this is far more than what legitimate cloudmining operators pay investors.
Who is Behind this Site?
There is no statement about the owner of the site. This is not surprising because scam sites would never list their owners for obvious reasons. It claims that the company operates from Paris, France but doesn’t provide a phone contact that could prove that.
A search of the 86 Boulevard de Grenelle 75015 Paris, France shows that it is a business district, but Hashleak could not be located at that address. We concluded that this is just another fake address meant to create the impression of legitimacy.
A Whois search shows that the domain was registered on March 6, 2019. Even though it may not yet have many investors, it is important that people take note and avoid it.
Hashleak is an active mining scam. We always advise investors to avoid high sounding investment schemes since it has become obvious that fraudsters would stop at nothing to steal hard-earned assets.
There are better ways to grow your assets and what we recommend is using regulated investment platforms. Our top recommendation is a site that shows you how to grow your investment through a social platform that conveniently makes you copy from expert investors. You could check it up here.
You can also send in your views through the comment box below or send requests on the investments sites that you want us to review through the contact form above.