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Bitmain denies relationship with Mangocoin cloud miners

Bitmain denies relationship with Mangocoin cloud miners

Counterfeit Bitmain mining devices deploy in the market and the company resorts to the law.
The perpetrator marketed for its devices publically without caring for the manufacturer’s right.  

August 12, 2019 | AtoZ Markets -Bitmain, the known cryptocurrency mining equipment firm, has announced it has no relationship with the crypto project Mangocoin (MNG) and what it markets of mining devices.

The announcement came in a blog recently, as Bitmain said Mangocoin was using the former’s name falsely for promoting its mining device, under the name of “Bitmain Cloud Miner”.

Bitmain identified the incident of using its brand in this manner as “fraudulent”, warning the public that that Mangocoin and its social media accounts, website, application and dedicated groups in messenger apps are not the Bitmain’s business channels or platforms, and that there is no relation between the two names.

Mangocoin had been using Bitmain’s name on its product for a while, promoting for them publically on its website, software bundle and applications.

Bitmain took legal action against Mangocoin (MNG)

Bitmain also said it took legal action against Mangocoin (MNG) to protect its name and users’ rights, urging its customers to “correctly identify the service provider when purchasing products, to sign up for or purchase anything online only after careful deliberation and stay alert to misleading promotions, illegal fund-raising, fraud and other malicious activities on the internet.”

Saving the effort of building cryptocurrency mining rigs, crypto minors, or ready-made mining devices, made good business in the market in the last period.

Not so long ago, Bitmain could sell plenty of its devices to a German Bitcoin (BTC) mining company Northern Bitcoin. The latter bought 5,000 mining rigs from Bitmain and Canaan Creative, as the media reported beginning of July.

Bitmain had also filed for an IPO with the Hong Kong Stock Exchange (HKEX) in the end of last September.

Among the other news about Bitmain, AtoZ Markets reported in the beginning of last December, that mining device manufacturer was facing a lawsuit with development and management firm UnitedCorp, where the latter accused Bitmain of manipulating the manipulating the Bitcoin Cash BCH network.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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