Despite parading its secure mining facilities in an off-shore rig, Watermine Owner reportedly loses control of the company to hackers. Either this is the situation of the platform, or its CEO has just given a trademark MLM exit cue to its investors.
Barely one week after we covered the bogus crypto mining farms Waterrmine supposedly run in an undisclosed location, the website is currently down.
Earlier this month, Watermine issues a general notice to all investors. The message invariably reads the same: the company is down.
The message from Watermine Owner intimates that investor funds were hacked by a Support member. The hacker subsequently makes away with funds to the tune of millions of USD.
Read more about the Watermine Owner in this article. Also, you can learn about the recent hack issues on the website here.
Watermine Owner, Anonymous CEO
Our previous post about the Watermine crypto trading platform highlighted the anonymous CEOs on the company as a possible red flag.
Like other short-lived passive income avenues, Watermine does not say anything about its supposed team of BTC 256 mining professionals. It also does not say anything about the CEO.
Instead of a detailed list of admin and team members, the official Watermine website focuses on its investment packages. Moreover, the company frequently reaches out to its investors through the Watermine Owner/CEOs.
In recent media contacts, the Owner of the company announces that Watermine has been hacked. See part of the announcement in the next section.
Watermine Owner Announces Hacked Account
In the wake of the negative reviews the company records online, the Watermine Owner announces a hacked account. The news is received with mixed feelings in different quarters since it bodes differently for clients and non-clients.
Hinting the company’s effort to stanch the siphon off funds from the company, the Watermine Owner closes his/her brief message with the following words:
We are handling the situation. Currently, we are trying to determine how many accounts were hacked that’s why payments are currently pending.
The message is followed by short shrift regarding the recovery of investors’ funds in the platform:
If we will enable instant payments again more accounts may lose money.
Impliedly, no one will get a refund if the company deems anyone’s investment gone.
Legit or another Ponzi Project?
Following the announcement, Watermine clients took to review platforms to ascertain the recovery prospects of Watermine. Is there any hope the company will continue its services?
Based on the nature of triangle earning models, Watermine is likely giving an exit cue to all investors. Subsequently, all links to the website will become inaccessible. At the time of publishing this article, the website is down.
As the company relied on its PR network and referral program to sell membership coupons, its hack announcement by the Watermine Owner poses several questions. The most gnawing of the issues on Watermine is how to refund investors. Likely, no client will get their funds back.
Affiliate recruitment proceeded on four levels on the platform. While it was available, the website lists that members can earn 8%, 6%, 4%, and 2% on affiliate levels 1, 2, 3, and 4. None of these plans is available currently.
Prospects for Clients
There’s little chance of clients getting their money back from the Watermine Owner. The events point to one conclusion: all funds have been bilked.
Also, given the running time of the company website, it does not suffice to invest in a platform on the strength of Domain Reg. Watermine has been working for one year when investors cashed out huge ROIs. Its abrupt closure suggests the platform has been bidding its time.
Further, as the website provides no info about the CEO/Owner of Watermine, all references to the company’s incorporation prove irrelevant. This is because the platform does not commit to any binding contracts from the start.
Lastly, the situation is dire for top investors on the platform. Since the website, also the main means of contact, is down, Watermine is unreachable. It gets worse; there’s nothing to fall back on, as the company does not disclose its owner/CEO.