A crypto asset business based in the UK, known as BTCMining, has recently been shut down following numerous complaints from customers around the world. These customers reported that they had paid for crypto mining services but did not receive the promised returns or were unable to withdraw their assets. The complaints came from countries such as Estonia, Mauritania, Iran, New Zealand, Poland, and Romania.
The victims first reported their grievances to Action Fraud, the UK’s national fraud and cybercrime reporting center. They claimed that they had paid for mining services that were never provided and were even asked for additional payments. Upon further investigation, it was discovered that BTCMining Limited did not have a legitimate registered address in the UK, raising suspicions about its operations.
A recent court hearing at the High Court in Manchester on April 28, 2025, led to the closure of the company. David Usher, the chief investigator for the Insolvency Service, emphasized the global impact of the fraud. He stated that the company’s global reach made it crucial to intervene and protect individuals both in the UK and abroad.
Efforts to contact the director of BTCMining, Stibich Martins Yhaicha Luzia, were unsuccessful as he could not be reached through known contact details. The company’s websites also became inactive, further raising concerns about the extent of the fraud. Investigators believe that the actual number of victims may be higher than the six formal complaints received by Action Fraud, with losses totaling over $18,000.
Authorities are worried that there may be more victims who have not yet come forward. It is essential for individuals who believe they have been affected by this scam to report their experiences to the relevant authorities. The closure of BTCMining serves as a reminder to exercise caution when dealing with crypto asset businesses and to thoroughly research any company before investing.