Bitcoin has been plagued by lots of companies offering the next big thing in “cloud mining”, and eventually turning into a scam. That list has grown quite long in recent months, and the latest name on the list is Cloudminr.io. According to the company’s website, somebody hacked their database and exposed all of the user accounts.
The Volatility of Bitcoin Cloud Mining Services
For those among us who have been involved in Bitcoin for quite some time, cloud mining has always been synonymous with a huge potential for a scam company. Granted, there are a handful of legitimate Bitcoin cloud mining companies out there, such as CEX.io, Bit-X, and Genesis Mining. But for every legitimate company, there are at least a handful of Ponzi schemes and scam sites as well.