Pac Miner burst onto the scene in 2018 promoting an enticing crypto mining investment opportunity. However, serious allegations and complaints have shrouded the company in controversy.
In this in-depth investigation, we’ll uncover the truth about Pac Miner:
If you stay with me till the end of this review, you’ll have all the facts to judge if Pac Miner is a scam or not. Let’s get started.
Overview: Analyzing Pac Miner’s Background
Launched in 2018, Pac Miner entered the booming crypto scene selling cloud mining services to retail investors.
Cloud mining allows individuals to buy computing power from mining companies who then mine cryptocurrencies on their behalf. All mined coins are shared between both parties.
This removed the high technical and hardware investment barriers of direct crypto mining, allowing anyone to get involved – an attractive model for amateur investors.
Pac Miner ticked all the boxes of legitimacy in its early days:
- Professional looking website detailing their mining operations and investment plans.
- Active on social media posting updates and photos that made them look like a large professional company with multiple data centers.
- Founder and CEO Ronaldinho De Assis held AMA sessions and made himself very visible as the face of Pac Miner.
The company marketed aggressively and soon built up a huge following across Africa, especially Ghana, drawing in thousands of investors.
But despite the initial success, it didn’t take long for serious allegations to surface…
Analyzing Pac Miner’s Legitimacy
On the surface Pac Miner looked like any other cloud mining company. However, there were a few peculiarities about their business model.
Most cloud mining companies simply sell you a contract for a fixed period, allowing you to share the rewards of their mining operation without needing to understand the technical complexities behind it.
But Pac Miner had implemented a strange multi-level marketing type system, paying you commissions for referring other people to purchase mining contracts.
They also had an odd “tax free” day once a month. On this day you could withdraw your funds without paying Pac Miner’s usual 15% withdrawal fee.
These atypical policies should have raised some red flags.
And that wasn’t the only suspicious component of their operation…
The Sudden Shift to Cameroon
In December 2023 after building up their Ghana customer base, Pac Miner suddenly rebranded to “Miner Cameroon” targeting victims in a new country. This was a huge red flag.
Legitimate businesses don’t abruptly move countries and shift their entire operations like this.
The anonymous Ghana Education news site reported:
“Call it Pacminer, Pac Miner, or Miner, the three names are all aliases of the same scam syndicate…
Pacminer loves to scam and run out, and he has no physical office. They exist during long holidays, and Cameroon’s day of crying is coming so fast.
This shady behavior combined with the oddities in their business structure started to attract an avalanche of scam accusations…
The Surge of Scam Accusations Against Pac Miner
It didn’t take long for customers and industry watchdogs to start voicing concerns that something more sinister was going on behind Pac Miner’s professional veneer:
1. Trustpilot Reviews Overrun With Scam Warnings
Pac Miner’s Trustpilot page paints a damning picture, with 12 negative reviews repeatedly using words like “scam”, “scammed” and “scamming” to describe the company.
The most recent negative reviews from December 2023 are especially alarming. Here’s a sample:
“They are scam they used four months to scam Ghanaians. Be careful they have move to Cameron with the name Miner.”
“Scammed Ghanaians over 50 million dollars scam! scam!! scam!!!”
And the longer 1 star reviews go into more details about people unable to withdraw funds around Christmas 2023 when Pac Miner cut off communication and vanished after building up a substantial customer base.
2. Scam Detector’s Website Validator Flags Multiple Red Flags
Independent scam detection site ScamDetector.com has analyzed PacMiner.com and broken down all the sketchy signs in their business:
Some highlights from their investigation include:
- Low trust score of just 58.5 out of 100 on their algorithm
- Using an overcomplicated MLM-style compensation structure
- Sudden shift of operations from Ghana to Cameroon under new “Miner” brand
- No company registration or incorporation documents provided
Scam Detector concluded:
“As soon as they improve their back-end, we will update this information…”
Unfortunately the “improvements” never came.
3. Warnings of Upcoming Christmas Scam in Cameroon
After rebranding as Miner Cameroon, further warnings surfaced about another impending exit scam around Christmas and New Year 2023.
Ghana Education reported:
“The next long holiday approaching is from December 31, 2023 to December 1, 2024… That is two days, which is good enough for Pacminer to disappear before you know it in Cameroon.“
And a Cameroonian blogger on scam site ScamDetector said:
“Attention Camerounais : Pacminer est une Arnaque… ”
Translating to “Attention Cameroon: Pacminer is a scam”.
This was sadly proven correct with another wave of victims unable to access funds around New Years as Pac Miner pulled off the same holiday exit strategy again.
With the damage done in Ghana and again in Cameroon, the authorities soon stepped in…
Is Pac Miner Illegal? What Do the Authorities Say?
After defrauding an estimated 800,000 Ghanains out of $6 million USD worth of funds, Pac Miner finally attracted legal consequences.
Ghana Declares Pac Miner an Illegal Scam Operation
The Ghana Education News site reported the reaction of Ghanaian authorities to Pac Miner’s scam:
“Millions of Ghanaian cedis are thought to have been lost in investments and earnings by investors…
Lost investments and returns per investor range from $20 to over $3000. On average, the 800,000 who registered with Pacminer invested at least $50 each.“
Losing that much money from regular citizens eventually prompted the government to step in.
The same article plainly states the official verdict:
“Pacminer Investment is a Scam. Pacminer is a digital currency investment scam“
Ghanians authorities declaring Pac Miner an illegal scam operation should remove any doubt about the company’s true motives.
Arrest Warrant Issued for Ronaldinho De Assis
Along with declaring Pac Miner an illegal scam, Ghanaian authorities also issued an arrest warrant for Ronaldinho De Assis – the founder and CEO of Pac Miner.
This confirms De Assis has gone into hiding and that law enforcement are actively hunting him down to face justice for his role in defrauding up to 800,000 Ghanians.
Not exactly the behavior of a legitimate business owner.
So in summary, between the odd business model, unexplained country shift, victim stories, authority verdicts, and founder arrest warrant, Pac Miner ticks all the boxes of an illegal scam operation.
But the victims who lost up to $3,000+ need more than just declaring Pac Miner a scam.
They deserve to have their money returned or the Pac Miner organizers punished. So what options are available?
How Crypto Scam Victims Can Recover Lost Funds
Unfortunately recovering stolen cryptocurrency funds is extremely challenging.
As decentralized digital assets, crypto cannot be reversed like traditional bank or credit card payments.
However a new company called CryptoRecover has a team of lawyers, investigators and cyber security experts with a proven process to track down crypto scammers and build a legal case to recover lost funds.
CryptoRecover’s CEO David Jaffe explains:
“We have recovered over $50 million dollars for over 5000 victims of cryptocurrency fraud…
The way we do it is by identifying who took your cryptocurrency, locating it, seizing it in cooperation with law enforcement, the courts, liquidating it and giving you back the proceeds.“
They have an incredible success rate given the difficulty of recouping crypto funds. Plus no upfront fees – CryptoRecover only collects a percent of exactly what they recover for you.
So Pac Miner victims have hope to regain some of their lost investments. You can start your recovery case here.
Final Verdict: Yes Pac Miner is a Scam!
Analyzing all the evidence, there is an overwhelming consensus from victims, watchdog sites and now even law enforcement that Pac Miner operated an illegal crypto investment scam that targeted victims in Ghana and Cameroon.
They used clever marketing and faked legitimacy to lure investors in, slowly building trust before executing mass exit scams around Christmas to maximize profits from their victims.
Pac Miner exhibited countless red flags that in hindsight should have been obvious it was scam:
- Odd MLM-style compensation structure
- Suspicious “tax free withdrawal days” policy
- Sudden shift from Ghana to Cameroon under “Miner” rebrand
- Failure to provide company registration documents
- Founder Ronaldinho De Assis now a fugitive wanted for arrest
Hopefully more victims can recover their lost funds and the organizers face punishment for their crimes.
This Pac Miner exposé also serves as an important lesson to be vigilant identifying crypto investment scams before becoming the next victim.
Always deeply scrutinize any crypto money-making opportunity, no matter how legitimate they appear on the surface.
Have you had any experiences with Pac Miner or other crypto scams? Leave a comment below to share any insights or advice!
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