I GOT SCAMMED TOO!
Bitcoin Mining Company GAWMiners Sold More than $1 Million Worth of Hashlets in 24 Hours
Scott Fargo on 09/09/2014
Now most people rather NOT admit they have fallen for a SCAM...
These Hashlets by GAWMiners back in 2014 when Cloud Mining was introduced and popular at the time had SCAMMED a lot people including YOURS truly.
In ALL I ended up losing $50 worth of Bitcoin (1/3rd) in 2014 which today is worth around $150 in 2017. This is where I started my "thirds rule strategy" and began exiting out of this SCAM luckily getting stuck with only my last 1/3rd bag. (hashstakers)
https://themerkle.com/gaw-miners-scam/
It started snowballing over into ZenMiner, ZenCloud, and ZenPool...
Let's not forget about PayBase and PayCoin. (XPY)
https://news.bitcoin.com/sec-officially-indicts-gaw-miners-ceo-hashlet-ponzi-scheme/
SEC Officially Indicts GAW Miners CEO for ‘Hashlet’ Ponzi Scheme
By Jamie Redman - December 3, 2015
WASHINGTON D.C. — Homero Joshua Garza was brought up on civil charges for the alleged operation of a “Ponzi Scheme” by the U.S. Securities and Exchange Commission (SEC). Garza and associated companies GAW Miners and ZenMiner, are being tried in court for selling $20 million USD worth of a cloud mined product called “hashlets.” The SEC alleges that Garza initiated conspired fraud with these “hash-shares” and was also involved with a series of other plotted events. Paul G. Levenson, Director of the SEC’s Boston Regional Office assigned to the case, states:
“AS ALLEGED IN OUR COMPLAINT, GARZA AND HIS COMPANIES CLOAKED THEIR SCHEME IN TECHNOLOGICAL SOPHISTICATION AND JARGON, BUT THE FRAUD WAS SIMPLE AT ITS CORE: THEY SOLD WHAT THEY DID NOT OWN, MISREPRESENTED WHAT THEY WERE SELLING, AND ROBBED ONE INVESTOR TO PAY ANOTHER.”
Let this be a LESSON and WARNING to Newcomers and Newbies.
Only invest what you can afford to lose...