<blockquote>
  <p>Is this fraud?</p>
</blockquote>

<p>Yes. Essentially you gave money to a stranger you've never met who told you a story that seemed plausible but was a pack of lies.</p>

<p>Typical indications of scam</p>

<ul>
<li>unspendable funds</li>
<li>activation fee</li>
<li>false description of how mining works</li>
<li>promoted on social media (private messaging)</li>
</ul>

CC BY-SA 4.0
2020-02-20T00:35:51.743Z
2020-02-20T00:35:51.743Z
RedGrittyBrick
<p>I have contributed Bitcoin into a mining pool that was being promoted on Instagram.  The miner of the pool informed me that the process consists of 5 cycles.  He set an initial amount of Bitcoin to be submitted into the pool, and then decreased the amount for next 4 cycles.  After the 5th cycle was completed, the I received "Non-Spendable" funds in my Blockchain wallet, which I cannot touch and that will not show up on my dashboard.  I informed the miner of the situation and he told me that I have to submit an activation fee of .2 BTC in order for the funds to be released into my wallet.  The miner then informed me again that I will be able to take back the .2 BTC after the funds are released into my wallet and that this function is how the mining machine works.  Is this fraud?</p>

CC BY-SA 4.0
2020-02-19T14:32:47.863Z
Yes, this is 100% fraud. You can try to find help from local authorities. If you're in the US, this [page](https://www.consumer.ftc.gov/blog/2019/11/scams-telling-you-pay-bitcoin-rise) suggests  https://ftc.gov/complaint
MCCCS
CC BY-SA 4.0
2020-02-19T14:57:59.600Z
I transferred Bitcoin from my Coinbase platform to the Blockchain platform to complete the transaction with the scammer.  Is my Coinbase account compromised?
Tony
CC BY-SA 4.0
2020-02-19T15:04:55.337Z
Did you give any private keys to the scammer? Otherwise, no.
MCCCS
CC BY-SA 4.0
2020-02-19T15:23:44.563Z
No.  The only thing that I did was hold my Coinbase barcode up to the computer barcode for Blockchain.
Tony
CC BY-SA 4.0
2020-02-19T21:35:53.133Z
What you have described is absolutely NOT how bitcoin mining works. This is most definitely a scam, sorry for your loss.
chytrik
<mining-pools><mining-profitability><mining-reward>
BITCOIN MINING POOL OPERATION CONCERN
Tony
# BITCOIN MINING POOL OPERATION CONCERN

(Asked by: username_0 on 2020-02-19)

I have contributed Bitcoin into a mining pool that was being promoted on Instagram. The miner of the pool informed me that the process consists of 5 cycles. He set an initial amount of Bitcoin to be submitted into the pool, and then decreased the amount for next 4 cycles. After the 5th cycle was completed, the I received "Non-Spendable" funds in my Blockchain wallet, which I cannot touch and that will not show up on my dashboard. I informed the miner of the situation and he told me that I have to submit an activation fee of .2 BTC in order for the funds to be released into my wallet. The miner then informed me again that I will be able to take back the .2 BTC after the funds are released into my wallet and that this function is how the mining machine works. Is this fraud?

**Tags:** mining-pools, mining-profitability, mining-reward

> **Comments:**
> **username_1**: Yes, this is 100% fraud. You can try to find help from local authorities. If you're in the US, this [page](https://www.consumer.ftc.gov/blog/2019/11/scams-telling-you-pay-bitcoin-rise) suggests  https://ftc.gov/complaint  
> **username_0**: I transferred Bitcoin from my Coinbase platform to the Blockchain platform to complete the transaction with the scammer.  Is my Coinbase account compromised?  
> **username_1**: Did you give any private keys to the scammer? Otherwise, no.  
> **username_0**: No.  The only thing that I did was hold my Coinbase barcode up to the computer barcode for Blockchain.  
> **username_2**: What you have described is absolutely NOT how bitcoin mining works. This is most definitely a scam, sorry for your loss.  

---

## 1 answers

### Answer by username_3 on 2020-02-20. Score: 2

> Is this fraud?

Yes. Essentially you gave money to a stranger you've never met who told you a story that seemed plausible but was a pack of lies.

Typical indications of scam

* unspendable funds
* activation fee
* false description of how mining works
* promoted on social media (private messaging)


---

