Exclusive: Cloud computing power Miningzoo suspected of running away, pretending to be Ceyuan Investment, all "mines" returned to zero due to the situation in the Middle East

Wu said blockchain exclusively learned that the cloud computing platform miningzoo is suspected of running away. The platform forged a lot of information, including information about obtaining investment from the well-known VC Ceyuan Venture Capital. As of July 6, a large number of investors are still unable to withdraw the cryptocurrency they have obtained by investing in the cloud computing power on the platform, and some investors are preparing to report it to the police.

Miningzoo is a cloud computing platform that was launched in June 2019. The top investment institution on its official website is Ceyuan Ventures, founded by Feng Bo. Ceyuan Ventures is a top investment institution in the industry. Ceyuan told Wu Blockchain that it did not invest in Miningzoo.

Industry insiders said that the platform has a strong PR force, placing advertisements in a large number of media and promoting its own "international" high-quality partners and investors, but a careful investigation reveals that most of the information is false.

(Investment institutions of Miningzoo official website)

Many investors said that just six months after the launch, there were signs of running away in December last year, and users were unable to withdraw their coins; some investors said that every phone call indicated that they could withdraw their coins next month, but in May, the calls were often transferred to the SMS call platform, and in June, the calls were simply not answered. The official website wallet shows that the last coin was issued on April 21 (another one appeared on July 3, but investors said they did not receive it). Some investors also said that they received some small amounts of coins from "Mr. Ye" in March and April, but there was no response afterwards. Some investors also said that they got back some of their investment funds after threatening the other party to report the case.

Currently, all mining farm data on the Miningzoo official website has been reset to zero.

Miningzoo said that the company's revenue grew from zero to $7 million in fiscal 2019, and appointed CEO Jason Wu in August 2019, saying that he had served as CEO of Milestown, a high-end building rental platform headquartered in Shanghai. Tianyancha shows that Jason Wu is suspected to be Wu Jian, the legal person of Shanghai Chengshili Brand Management Co., Ltd. Miningzoo's overall PR and design are very international, but a large amount of related information is false and forged, which has attracted many investors.

Miningzoo announced in July last year that the cloud computing power it was selling was officially connected to the Dpool mining pool (Dragon Pool). Dragon Pool is also the only mining pool partner announced by Miningzoo. However, Wu Blockchain learned that Miningzoo currently has no computing power in Dragon Pool.

It is said that the big boss behind Miningzoo is Lu, the former CTO of LightInTheBox, and the employees' office space is also in the same location as LightInTheBox. LightInTheBox is a long-established Chinese foreign trade e-commerce website that was listed on the US stock market in 2013. This statement cannot be confirmed at present.

On January 3, 2020, Miningzoo suddenly issued an announcement stating that due to the political situation in the Middle East and many force majeure factors during the relocation of the East Asian mine, Miningzoo has made the following decisions based on the operation status of its own mine and the Miningzoo User Agreement: 1. Suspend the operation of computing power, and postpone the remaining days of computing power and electricity fees; 2. Suspend the withdrawal of coins, and the withdrawal time is expected to be January 31, 2020.

A senior industry insider said: Smart people can see that this is a Ponzi scheme. It uses the funds of later users to make up for the profits of earlier users, or uses the funds of users for leverage operations, and then uses the profits to make up for the users' coins. Obviously, this platform has been "exploded" since December last year. At present, the rights activist said that they are still waiting for the reply from the other party "Mr. Ye". If they can get the original coins back, they will give up. Otherwise, they will report to the police or find the economic investigation team to file a case.

Since 2019, cloud computing has become a popular way of playing in the cryptocurrency and mining circles. There are more than a dozen mainstream cloud computing companies, and there are countless non-mainstream ones. The current Filecoin craze has brought another wave of cloud computing craze. In the final analysis, cloud computing is a form of leasing + hosting of mining machines, connecting traditional mine owners with people who want to invest in mining. It reduces the risk of bear market for mine owners and lowers the threshold for mining for investors, so it quickly became popular.

However, due to the long capital investment cycle and slow return, cloud computing power can be understood as a medium-term financial product to some extent, and the rate of return depends on the price of the currency. Therefore, there will be real mining cloud computing power and a large number of cloud computing power platforms that are under the guise of cloud computing power, financial products, and have the risk of running away. Miningzoo is obviously the latter. The XMX computing power coin launched by Yuhong is linked to the computing power of mining machines, and similar problems have occurred. It suddenly announced that the operation and repurchase of all mining machines would be suspended.

For customers interested in purchasing cloud computing power, Wu said he has the following three suggestions:

First: The real income from mining cloud computing power is not fixed, but will be dynamically adjusted according to market conditions, demand and mining difficulty. The credibility of any cloud computing power that promises income should be questioned. Any cloud computing power that cannot provide a physical mining site should be questioned. Be wary of cloud computing power that claims to be international or foreign.

Second: Although some cloud computing platforms have lower prices and higher returns, you should consider choosing cloud computing platforms that are backed by top domestic mining machines, mining farms, and mining pools, so that at least there is someone to turn to when problems arise. Cloud mining itself is a relatively stable investment, and there is no need to take the risk of being "run away" for a small profit.

Third: If you are a conservative investor, you should consider purchasing the top mining machine packages, such as Ant S19, S17, Shenma M30S, etc. If you are an aggressive investor, you can consider small-currency mining machine packages. In 2020, mining of small currencies on multiple emerging public chains may yield greater returns. Filecoin cloud computing power is also one of them, but it has greater risks. Du Jun of Node Capital has repeatedly warned that retail investors are not recommended to purchase and participate.