Is Crypterra Cloud Mining a Scam?
Well recently we have had quite the run of downtime on the main website. I personally am not particularly afraid of this service being a scam as they have had a perfect situation with the market crash to provoke a exit strategy. It all started with an unannounced website shutdown, they reported via Twitter way after the fact that it was unexpected and they were “hardly” working on their severs.
Website Went Down for 72 hrs
Directly after the website coming back up the first time there were changes. Crypterra had increased the minimum withdrawal amount upto around $50 of each currency aswell as implementing a mandatory 2 factor withdrawal code. Further after setting my code, I discovered that they also implemented a withdrawal wait time after resetting said withdrawal key. Shortly after this first major downtime they also implemented an earliest withdrawal date February 10th. All of this was fairly alarming but within the realm of growing pains.
Currently Offline Again
The most recent website shutdown, was announced via twitter which was good on them but it was still unexpected and leaving all of us to wonder and speculate. Luckily there are a few chaps on the investigation train too bring us details the company is neglecting to inform us about. It appears that Crypterra is going through a massive website upgrade combined with new SSL certificate!
Conclusion
Here I sit and wait for that countdown to finish wondering why in the first place they have had no transparency on the shutdowns. I realize they are in an exponentially growing field that they possibly were not prepared for, but from a business stand point consumer communication is #1. They did however promise a new website, including pictures from the data centre this could be a poor execution of promises. From current track record it seems this is just how they conduct business possibly massively understaffed, most likely network overload aswell look at Binance going through a similar situation of unannounced shutdown.
Comparing this too HashFlare we have seen many similiar situation just much better handled yet we must understand that the company behind HashFlare has been well established in the cryptoverse for sometime, and has learned the backlash of investors can be avoided with transparency. HashFlare would also have the staff or resources to hire out on demand solutions in a situation of need. Crypterra on the other hand is less than a year old, has no formal ties into the cryptoverse, still developing their platform.
All in all nothing can ever truly be vetted in the cryptoverse , but I do feel as if the individuals investigating this problem have brought to light that this isn’t going the typical exit strategy direction.
#1 - They’ve missed their opportunity before this most recent dip
#2 - Website online but not functional, looks to be upgraded
#3 - Twitter we have been given updates regularly(in Crypterra time hours are days)
#4 - Payout Wallet still has funds
I don’t want to post any of their wallet address’s since it took a fair amount of blockchain tracking to figure how they move money around(I think this was intentional confuckery) but I believe I found their cold storage wallet address and it has been inactive since original website/payout shutdown. I will keep my eyes on it after the 10th too see if anything changes after website/payouts are reimplemented.
So I pass the question off too you!
What are your thoughts on the subject?
Should we be worried?
Why?
I follow CryptoRobert of youtube(video top of post), he has many good videos on this subject. He’s unbiased, help me get him onto d.tube by going and commenting on his videos make it known we as a community demand the presence of these individuals that can bring light to the darkness.
As a knower on the path of knowing to discover the known I reveal to you my findings, good and bad.
