UK court orders crypto mining platform BTCMining to shut down on suspicion of cross-border fraud

According to Golden Finance, the British cryptocurrency mining platform BTCMining has been ordered to shut down by the court on suspicion of cross-border fraud. This company provides so-called "cloud mining" services to customers in multiple countries around the world, charging fees but failing to deliver promised profits and preventing users from withdrawing funds. According to an investigation by the UK Bankruptcy Management Office, this company, founded in January 2024, has committed multiple violations: its registered address is forged, the only director is missing, and its website has been shut down. At present, victims from Estonia, Mauritania and other countries have reported confirmed losses exceeding $18000, but the actual amount defrauded may be higher. The Manchester High Court made a decision to close the company after the hearing on April 28.