Slush PoolBraiins OSBraiins OS+Stratum V2
Blog
General Updates

Bitcoin Mining Scams to Avoid (Slush Pool Impersonators)

Unfortunately, some scammers have been using the Slush Pool name to steal Bitcoin from unsuspecting people. Here we expose some of the scams and tell you how to recognize them.

Julian Oppedisano
Published on Jul 16, 2020
START READING
Published on Jul 22, 2020
Published on Jul 16, 2020

Are you looking to get into Bitcoin mining? Or are you deciding to purchase a mining contract to earn passive income? Stop. You may become a victim of a Bitcoin mining passive income scam. 

Bitcoin passive income (or investment) scams are prominent in the Bitcoin mining space. These scams typically require you to invest money up front to purchase a Bitcoin “mining contract.” In return you get a guaranteed income stream — or so they say. 

Cryptocurrency scams tend to gain popularity when the price of Bitcoin increases significantly. As many new unsuspecting people join the space, they often come across these fraudulent companies. It’s up to you and only you to protect yourself and decide whether it’s a scam. There is little to no recourse for people who fall victim to these scams because Bitcoin transactions are irreversible.

(For a full list of known scammers, scroll to the bottom of the article.)

Slush Pool Impersonators

Could mining scam impersonating Slush Pool.

Slush Pool is the oldest and a well respected Bitcoin mining pool. Unfortunately,  many scammers use our name to legitimize the investment scam they’re running. Slush Pool will never require payments from our users. There are no official Slush Pool consultants who offer certain "investments opportunities" on the internet. The only domains that we use are slushpool.com, braiins.com, and braiins-os.com.

The following are a few red flags to look out for when assessing Bitcoin mining investment opportunities.

Scam site impersonating Slush Pool.

Get notified when we release a new update

By subscribing you are agreeing to our Privacy Policy
Wohoo! You're subscribed, we'll be in touch soon.
Something went wrong. Please try again.

Guaranteed Return

Bitcoin mining is a complex process. Determining the exact return on your investment in advance is almost impossible. Different variables are at play, such as the mining difficulty and current Bitcoin price, many of which are completely out of your control and will all affect your return. Therefore, anyone who promises you a guaranteed return in advance is a major red flag. 


Never send your bitcoins to strangers, you will never see them back. Don't trust. Verify!

If you’re purchasing a cryptocurrency mining contract to have your mining hosted with another company, a more legitimate investment will show the amount of hashing power you will receive in return for your investment. If you’re purchasing bitcoin mining equipment for your own operation, it's best practice to purchase directly from the manufacturer or a trusted reseller with a strong public reputation.

Reviews

Having positive reviews isn’t enough. Many scammers know that people will look at reviews before deciding whether to invest. These reviews are often fake and talk very positively about the company. This is especially true for reviews and testimonials found on the website itself. 

You shouldn’t solely rely on what other people say about the company. You must do your own research and assess the company yourself. 

Trustworthy Communication Channels

The channel that you came to learn about the company helps determine the legitimacy of the company. Was it a direct message on Twitter or Instagram? Did you get an unsolicited email? Legitimate companies within the space will not reach out through informal communication channels.

We have a saying in the Bitcoin industry: “don’t trust, verify.” Doing your own research and keeping the previously mentioned red flags in mind will help you avoid falling victim to these investment scams. 

At Slush Pool, our employees (including support agents) only communicate using addresses from one of the following domains: slushpool.com, braiins.com, slushpool.kayako.com.


Get notified when we release new update

By subscribing you are agreeing to our Privacy Policy
Wohoo! You're subscribed, we'll be in touch soon.
Something went wrong. Please try again.


You can view the changelog also in our documentation.
See the full changelog

Contacting Slush Pool Impersonators 

Scammers are on all kinds of social media trying to get your bitcoins. Bitcoin mining scams are on Instagram too.

We decided to contact some Slush Pool impersonators ourselves. We compiled images to showcase the misleading claims the impersonators make. These images are intended to act as educational content to help prevent more people from falling victim to these scams. 

How The Scam Works

The following is the most typical way someone will get scammed: 

  1. You’re promised guaranteed profits. Claims such as making 15% in 20 hours is a huge red flag. Remember, nobody can promise a guaranteed profit.
Returns too good to be true? 300% daily? Then it is a scam for sure.
Bitcoin mining is a competitive industry. Nobody can guarantee these kinds of returns, only scammers.
  1. You’re required to send bitcoin. This is where the scam occurs. By sending your bitcoin, there is no way for you to get it back since transactions are irreversible. The website will provide you a bitcoin deposit address to allow you to send them bitcoin.
100% guarantee? 100% scam.

The scammer will attempt to get more bitcoin from you. Typically an issue with your deposit will occur and ask you for more bitcoin. Another common tactic is that they get you to pay “fee” to enable you to withdraw your profits from the platform. This is just another attempt to get you to send them more bitcoin. 


Understanding how the scam operates will help protect you from falling victim to this common crypto mining scam. If the investment sounds too good to be true, it probably is. 

Conclusion

If you ever come across anybody claiming to be from Slush Pool who asks you to send BTC for "Bitcoin mining contracts" please do not send them any coins and report the impersonators as spammers or scammers if possible.

Get notified when we release new update

By subscribing you are agreeing to our Privacy Policy
Wohoo! You're subscribed, we'll be in touch soon.
Something went wrong. Please try again.

Known Bitcoin Mining Scams

The following are known impersonators to avoid:

  • slush-pool.com
  • slushpoolinvests.com
  • slushpoolmining.com
  • slushpoolglobal.com
  • instagram.com/slushpoolmining
  • instagram.com/slushinvestments

Get notified when we release new update

By subscribing you are agreeing to our Privacy Policy
Wohoo! You're subscribed, we'll be in touch soon.
Something went wrong. Please try again.
Share now

About Braiins

Operators of Slush Pool. Creators of Braiins OS+ autotuning firmware & a fully open-source mining stack: Braiins OS + BOSminer + Stratum V2.