Fraudulent Bitcoin mining machine seller tries to impersonate GMO Internet

Maria Nikolova

Fraudsters are abusing GMO Internet’s name and reputation by launching a fraudulent website and Twitter account purportedly offering Bitcoin mining equipment.

Bitcoin-related scams are becoming more aggressive and are now abusing the names of well-established businesses. The latest example is provided by Japanese online services provider GMO Internet Inc. (TYO:9449), which runs, inter alia, a number of businesses related to cryptocurrencies – a virtual currency trading business, a cryptocurrency mining business and a cloud mining business. GMO Internet has recently confirmed that Bitcoin mining scammers are making use of its reputation and brand.

The company has confirmed the presence of impersonation website selling Bitcoin mining machine and impersonation Twitter account redirecting to the fraudulent website.

This website and Twitter account are using GMO’s company name and logo without its permission, and are unassociated with GMO Internet. The Japanese online giant says it will not be liable for any activities on this impersonation site. The company notes that it does not sell its mining related machine.

GMO advises the members of the public that have used this impersonation site to contact the criminal investigation unit, that is, the police.

The official cryptocurrency mining related websites of GMO Internet are shown below:

  • Cryptocurrency mining business: https://mining.gmo.jp/en/
  • Cloud mining business “Z.com Cloud Mining”: https://cloudmining.z.com/en/

In the meantime, virtual currencies trigger a growing number of questions among investors in Japan, according to data provided by the FSA in December last year . The FSA Counseling Office for Financial Services Users said back then that it had received a total of 685 investor enquiries about virtual currencies in the quarter to September 30, 2017. This marks a rise of more than 26% from the quarter to June 30, 2017, when the FSA received a total of 543 such enquiries. The great majority of these questions are general enquiries, the FSA noted.

These data were released soon after Japan’s National Police Agency announced that cybercrime reports reached record high in the first six months of 2017. A total of 69,977 reports of cybercrimes were received by the police in the January-June 2017 period, up 4.9% from the equivalent period in 2016. More than 20 incidents involving the theft of Bitcoin and other crypto currencies were reported to the police, leading to losses of JPY 59.2 million. There were 13 cases involving Bitcoin hacks, 11 cases involving Ripple and 2 cases involving Ethereum. There was also a report about several digital currencies having been attacked at the same time. Crypto currency thefts were reported in 13 prefectures.

Read this next

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

Web3

COTI Teams Up with Civic for Enhanced Digital Identity Control

СOTI and Civic are teaming up to enhance digital identity security in Web3, aiming to provide users with more control over their digital selves through innovative technology.

Digital Assets

BlockDAG Takes on Chainlink (LINK) Crypto, and RON With DeFi Card and 5000x Profit Potential

Explore BlockDAG’s innovative DeFi card, which transforms cryptocurrency into spendable cash, alongside Chainlink (LINK) crypto and Ronin’s advancements.

Digital Assets

Court finally decides on Sam Bankman-Fried sentence, experts predict 20 years

Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, is set to face sentencing on Thursday in a pivotal moment that could see the entrepreneur beginning a lengthy period in federal prison.

Crypto Insider

DeFi Winter Thaws: A Look at the Emerging Landscape

The past year has seen a significant shift in the Decentralized Finance (DeFi) market, transitioning from a period of decline (“DeFi winter”) to a potential season of growth.

<