Guides · Security

ASIC seller check and scam warnings

Is a miner shop suspiciously cheap? Enter the domain or name and find out whether it is in our warning database. We only list cases we can back up – with the date of the check and sources.

Warning database

Websites, companies, coins and scam types we warn about. Each entry shows the date of the check, what we found and where we know it from.

CautionScam type

AI trading bots with guaranteed profit

Checked 24 October 2026

A type of scam, not a specific company. Platforms promise profits thanks to “artificial intelligence”, but you send your money to an unlicensed third party and the withdrawal ends up blocked or tied to another fee.

Full article

CautionCloud mining

Cloud mining with guaranteed returns

Checked 24 October 2026

A type of scam, not a specific company. Most cloud mining offers mine nothing and pay out of new clients' money. Warning signs: a fixed daily return, bonuses for bringing in friends, hashrate you cannot verify in a pool and fees to “unlock” a withdrawal.

Full article

High riskCoin / project

InitVerse (INI)

Checked 24 October 2026

The project with its own INIBOX miners collapsed in summer 2026: according to miners it blocked withdrawals and the INI price fell almost to zero. INIBOX machines still work – today it only makes sense to switch them to mining Nexa.

What we checked
  • Vipor pool analysis (March 2026): the VersaHash algorithm is a renamed NexaPoW, a few addresses controlled the network, the official pool blocked third-party miners.
  • MiningNow as of 24 Oct 2026: 1 INI ≈ USD 0.0000235, INIBOX Pro income USD 0/day, warning “Suspicious activity”.

Sources:blog.vipor.net, github.com, miningnow.com

Full article

High riskWebsite

Pineconebox.com

pineconebox.comChecked 24 October 2026

An online shop selling INIBOX miners for the collapsed INI coin. A young domain with a hidden owner, a company with no traceable registration and terms that contradict each other. In our view a risky website – we do not recommend buying here.

What we checked
  • Domain registered on 30 Mar 2026 (Namecheap), owner hidden by Withheld for Privacy.
  • Lists only “Pinecone Tech Inc.” and an address in Shenzhen – no registration number, phone or social media.
  • The terms name no company and refer to Dutch law.
  • The Return Policy promises returns within 30 days; the product pages and terms rule out refunds.
  • The footer logo is labelled “MicroBT WhatsMiner ASIC Miners Store Logo” – a copied template.
  • Sells INIBOX “for the INI network”, on which the machine earns nothing today (MiningNow: income USD 0/day).

Sources:whois.com, scamadviser.com, miningnow.com

Full article

High riskWebsite

Pineconemining.com

pineconemining.comChecked 24 October 2026

A website selling INIBOX miners that the seller Yesmining cites in its guide as an example of a fraudulent shop with prices far below the market. We rely on this source and the WHOIS record; we did not try to buy.

What we checked
  • Yesmining lists pineconemining.com as a “Known Fraudulent Example” – INIBOX 850M for USD 1,399 against a market price of USD 2,700–2,900.
  • Domain registered on 11 Dec 2025, owner not listed (registration country Saint Kitts and Nevis).

Sources:yesmining.io, whois.com

CautionScam type

Pre-orders of non-existent miners

Checked 24 October 2026

A type of scam, not a specific company. The seller offers a model the manufacturer does not make or a price far below the market, wants a deposit in crypto and keeps pushing back the delivery date.

Full article

10 warning signs of a scam miner shop

The more points apply, the higher the risk. This goes for online shops, sellers on social media and “manufacturer representatives” alike.

  1. Price far below the marketThe same miner costs 30–50% more elsewhere. The most common bait – nobody sells new machines at a loss.
  2. A young domainWHOIS shows the website was set up a few months ago, yet it claims thousands of customers and years of experience.
  3. A company you cannot traceThere is no company or registration number, or you cannot find it in the register. The address leads to a flat, a virtual office or does not exist.
  4. Payment only in crypto or by bank transfer in advanceYou will not get crypto or a foreign bank transfer back. A reputable seller also offers card payment, cash on delivery or collection in person.
  5. Terms that contradict each otherA 30-day return on one page, “all sales are final” on another. Foreign law or a different company name in the terms.
  6. A copied templateThe name of another shop, brand or domain is left in the texts or image descriptions.
  7. No independent reviewsRatings only on the seller’s own website, nothing on Google, Trustpilot or forums.
  8. A model the manufacturer does not makeAn unknown “edition” of a well-known machine, unrealistic specs or a machine for a dead coin.
  9. Pressure to decide quicklyCountdowns, “only 2 left”, a discount for today only or a forced deposit to reserve a unit.
  10. More fees after paymentAfter paying you get asked for customs, insurance, “activation” or tax. Whoever pays once is asked to pay again.

Report a suspicious website

Have you come across a suspicious miner shop, cloud mining offer or “mining investment”? Send it to us. We will look into it and, if we find problems we can document, add it to the database.

We will not publish your details. We only add an entry to the database after our own check.

Articles on crypto scams

All articles on scams

How we keep the database

We only list what we can back up: information from the seller’s website, public records (WHOIS, company registers), independent sources and our own experience. Each entry shows the date of the check and the sources.

The verdict is our opinion based on these facts, not a court ruling. We use “Confirmed scam” only when we have documented damage or an official decision. If you have a correction or you run the website, write to us – we will look into the information and correct it if needed.

Frequently asked questions

How do I spot a scam ASIC miner shop?

Check the domain age in WHOIS, the company in the register, the payment methods and independent reviews. If more than two of the 10 warning signs on this page apply, better put the purchase on hold.

The website is not in the database. Does that mean it is safe?

No. The database only contains cases we have managed to check and document. Check an unknown website against the warning signs, or send it to us for a check.

What should I do if I have already paid?

Do not pay anything more, keep the evidence and contact your bank straight away – for a card payment you can ask for a chargeback. Also report it to the police.

Can you remove or correct an entry in the database?

Yes, if you show that the information is not accurate or the situation has changed. Write to us via the contact form, we will check the details and update the entry.