Cryptocurrency Mining Hardware Scam Education Foxminers – The Merkle

The cryptocurrency world has seen its fair share of nefarious mining hardware manufacturers. A lot of companies claim they are building new hardware and accept pre-orders. However, very few of these products ever come to the market. Foxminers, a new company claiming to offer dual-mining hardware for bitcoin and litecoin, seem to fall into the potential scam category as well.

Everyone who has kept tabs on bitcoin and altcoin mining is well aware of the dangers associated with pre-ordering mining equipment from unknown companies. So far, no one has even heard of the Foxminers company, as their website doesnt even show up in the first 10 Google results. However, that is not preventing them from announcing their new spectacular mining hardware, known as the F24 and F48 models.

According to the press releases sent out by the company, their miners are building on a proprietary mining chip called the FM9800-XD1112. Once again, no one we hear about this chip so far, and it seems highly unlikely such an unknown company has the money and resources to develop a cryptocurrency mining chip. To be more specific, Foxminers claims their chip can mine both bitcoin and litecoin at the same time, which is very dubious at best.

Foxminers claims their unknown and untested chips can mine both SHA-256 and Scrypt, making it the worlds first dual mining hardware. Quite a bold statement, although the company fails to provide any evidence to back up these claims whatsoever. Not entirely surprising, of course, as they hope to steal money from unsuspecting cryptocurrency enthusiasts.Then again, no one with more than two peas for a brain will fall for these cheap scamming tactics by any means.

As one would expect, Foxminers is hoping to steal money from users by offering attractive pre-order discounts. In fact, customers can save $500 on the $2,500 device if they pre-order before May 14th. Rest assured no one who preorders will ever see this mining hardware we make it to their home, though. Foxminers has no mining hardware to speak of, and they will not be shipping units to customers anytime soon.

To make this offer even more ludicrous, Foxminers claims to pay for all shipping and customs fees. That is quite spectacular, as shipping a dual-mining unit is quite expensive. Moreover, a lot of countries charge high customs fees for these types of items, either based on their normal value or depending on the weight of the package. No mining hardware manufacturer can afford to pay such vast amounts of money out of their own pocket unless they are selling nothing more than vaporware.

Foxminers also claims the company was founded in 2016, yet the website was not registered until a few months ago. That seems rather strange, to say the least. Additionally, the company claims to have headquarters in California, yet the domain registrant information is hidden from the public. Nothing about Foxminers is adding up, other than the fact they wills teal your money and never produce a working cryptocurrency dual-mining unit.

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Cryptocurrency Mining Hardware Scam Education Foxminers - The Merkle