A favorite past-time of cryptocurrency scam artists is setting up shady mining sites that promise the users instant profit. This is despite the fact that the current realities around cryptocurrency mining clearly contradicts their claims.
Softger INC is one of the latest mining sites that claims their investors would be in money as soon as they make deposits. Let’s go through the claims to help you avoid one of the pitfalls in cryptocurrency mining investments.
What is SoftGer INC?
This is a site that claims that it is selling a cloudmining software that enables the users to ‘mine bitcoin on any kind of device’. According to the copy on the website, the software consumes ‘low internet, is totally internet based and all the investor needed to start mining on their devices.
The owners further claimed that they’re the pioneers of the business that brings this sort of mining opportunity to their investors. You could even get your money back in 24 hours if you’re not satisfied with the services rendered, they claimed.
“Our software is fully cloud based. You can mine bitcoin with your any kind of device using our software. We have windows, mac os, android, ios & linux version for software. Our software consume very low internet as its totally cloud based software. You just need to run it on your device & you can keep it on for mining bitcoin automatically. You don’t need to do anything just relax & mine bitcoin easily. We are the first in online who are offering you earn using bitcoin mining software. Our software is connected with powerful hardware machine in U.S.A.”Softger
Poor Web Copy
There are so many things wrong with that claim assuming we decide to ignore the quality of the content and focus on them. If they hadn’t claimed they’re based in the US, you’d excuse their atrocious grammar, but with that assertion, it becomes immediately obvious to a casual observer that this is a phony site trying hard to impress their potential investors.
The site claims that this company is a team of 37 with the owner working from somewhere in Tulsa, Oklahoma. It gave the office location address as
2318 S Jackson Ave, Tulsa
Tulsa, OK 74107
A search of that address shows that there is no company that bears such name operating at that location.
The site claims that the mission of the team is to make ordinary people mine bitcoins using their laptops and other devices. A critical look at that claim would tell you that it is false. It is almost impossibility to mine Bitcoin these days with everyday devices such as laptops and mobile phone. The mining difficulty of Bitcoin is such that even 100 everyday computers cannot mine enough bitcoins to buy a cup of coffee even if they work for six months.
The owners pretended that they believe that the investor would even buy more of their ‘top quality software’ again after initial purchase.
It is not clear if this would be called an investment or a mining plan. Anyway, one way or the other, it is still an investment. There are four investment plans available on the website. These are Silver, Gold, Diamond and Exclusive. The buyer is assured technical support, 24 hours, 7 days of the week.
This would generate $50 to $70 in bitcoins daily for the owner. The cost of this mining plan is a monthly $399 or yearly investment of $1,599.
This generates $140 to $210 worth of bitcoins daily. To get this plan, the investor has to invest $699 monthly or $2999 yearly. It has a $20 maintenance fee.
This plan generates $280 to $350 daily for the investor. To purchase this plan, the investor has to pay $1,499 or a yearly $5,999. It has a maintenance fee of $50.
This is the big one, that is supposed to generate $550 to $820 daily for the investor. The price of this mining package is $1,999 monthly or an annual payment of $7,999.
Prices Can Change for Customers
The company claims that they could change the price of their mining plans “for any customer”. So you shouldn’t be surprised if you’re asked to make more payments after purchasing a plan.
“Notice: For any circumstance softger.com have rights to change the pricing. Prior notice will be given for price change. Thanks”Softger
Fake Video Testimonials
The operators of this scheme seem to mean business as seen with the way they have convinced some users to make video testimonials for them. This is obviously a ploy to convince many others and get people to start buying this fake mining software for Bitcoin.
What we have seen over the years is that some exit scams start with good marketing strategies. Then they pay some early investors to make these videos that pull in more people. They wait until they have made a lot of money from the suckers before pulling down the site.
According to the Securities and Exchange Commission Investors Alerts,
“Fake Testimonials. Con artists may pay people to post fake online reviews or appear in videos falsely claiming to have gotten rich from some investment opportunity. Even testimonials that appear to be independent and unbiased reviews – for example on a website purporting to “review” products and investment opportunities – may be part of the scam.”Securities and Exchange Commission (SEC)
Who is The Owners of SoftGer INC?
There is no definite way of knowing, even though the site claims that the director of the company is Robert Scott. That is sure a common name that you can’t even begin to search for the so-called Admin. This is a clear ploy to make the owner unidentifiable – a routine strategy employed by scam investment sites.
How Long Has The Site Been Around?
From the site, the company claims that it has been around since 2018. This contradicts the evidence from Whois search which shows that the domain was registered on August 19, 2020.
Scam sites always claim that they have been around longer than they actually have been. They do this to project the image that they can be trusted and have been paying their investors for a long time. They are aware that many investors do not have the time, patience and expertise to crosscheck information they see in investment sites. This is a sure way of getting deceived by fraudsters.
According to the Securities and Exchange Commission (SEC),
“Fraudsters use different means, including through promotional videos, social media, email, phone conversations, and in-person meetings, to lure victims into scams. If it seems too good to be true, it probably is.”SEC
You do not need an expertise in fraud analysis to know that SoftGer is a scam in the making, a potential exit scam. The ROI is unrealistic. The mining possibility, non-existent. We suggest that you keep away from this scam. For a genuine investment site where you could copy traders to make profit, check our recommendation.