Ethrun.net is a cloud mining service which mines specifically Ethereum coins only. They advertise returns of 0.74% per day and it tops out at 191% per year. If you are a Crypto enthusiast who is looking to get started with mining and has no clue about exactly how it works, this kind of ROI might appear legit but rest assured the days wherein you could earn 2.5 ETH per day with mining is long gone.
Many fake mining platform are emerging nowadays and as a investor it is absolutely essential for you to avoid these pitfalls and choose the legitimate one, go through our full review to find out why you should never spend money on this platform for any reason.
Company and Support
There is no information about the person behind this firm when we checked the whois.com directory the actual owners are using privacy protection service to hide their identity. It is perfectly normal to hide actual details by using 3rd party services but in this case they are just trying to avoid getting caught by law.
After all lack of transparency is the first sign of a scam. Any type of investment company which accepts money from retail investors and issue them contracts thereby creating value have to be regulated by certain authorities.
While we were trying to figure out if this firm has all the necessary documentation in place to which gives them the right to take money from people, we couldn’t find any certificated they must lawfully hold and that puts them in direct violation of law. We have confirmed through FCA this firm has never been licensed.
If you have any query with regards to this firm, the only way to reach the support team is via a contact form provided on their platform. The only contact detail put up by them is the firm’s address”-
Address – 20-22 Weblock Road, London, England, N1 7GU
How does Ethrun.net work?
Ethrun.net claims to provide an unique yet easy way well suited for novice miners who are just getting started with mining as well as seasoned miners who do not want the risk of home based mining. This narration is pretty basic and though theoretically correct, it does not give much information about what they actually do with the clients money.
For starters we do not know their mining capability in terms of hash rate and the equipment they use. We have no idea what their maintenance costs are and at what volume they will exceed break even point and achieve profits.
The names of the scripts used by them are the mining pools they work with are unknown.
Keeping in mind all these unanswered topics why would anyone want to purchase plans from this platform? Trusting them with your money is just like gambling, the chances of you getting it back is very low.
There are 5 mining contracts offered by this platform. Wherein 4 of them are paid the remaining plan is free. Just do not expect to make decent earning in the free plan because at the end of the day the returns are not worth spending your time.
Take a look at the details of the contracts –
Basic Version 1.0
Cost – 0.5 ETH
Earning – 0.01 ETH Per day
Affiliate Bonus – 30%
Standard Version 2.0
Cost – 1 ETH
Earning – 0.2 ETH Per day
Affiliate Bonus – 40%
Standard Version 3.0
Cost – 5 ETH
Earning – 1 ETH Per day
Affiliate Bonus – 50%
Premium Version 4.0
Cost – 10 ETH
Earning – 2.5 ETH Per day
Affiliate Bonus – 60%
Like most of the fake mining platform, the sole intention of this firm is to earn as much as they can before their scheme collapses. To grow their user base quickly, this firm offers an affiliate program in which any individual can earn money by referring people to this service.
The commission rate ranges from 30% to 60% of the revenue they bring in. It is not compulsory for the affiliates to be hold an active deposit in order to get their fat commission which is why they are ready to go to any level to convince you to deposit with them.
Thanks to whois.com service, we know that this domain was registered on 21/02/2018 and it expires on 21/02/2019. The registrant details are not shown as they are using privacy protection service.
According to alexa.com this website ranks 48,217 in Iran and has a global rank of 396,678. The majority of the users landing on this site are from Iran, Venezuela, Indonesia, India and Tunisia.
Deposit and Withdrawal
The minimum spend is 0.5 ETH and the payout threshold is 0.01 ETH. This service accepts Ethereum only. We do not know if there are any fees associated with transactions.
The withdrawals are said to be processed instantly but sometimes can take longer, the maximum time period for processing is not mentioned.
Is Ethrun.net a scam?
Many everyday people still seem to believe mining might be their way of caring significant amount of money but that is not how things work. These anonymous bunch of crooks feature false information which will convince you into believing that mining is your ticket to the riches, remember getting 25% returns per day through mining is outright impossible.
High returns and easy way of earning income are the standard trade marks of every scam. If you analyse their platform carefully then you will realize that there isn’t any evidence to prove that they are actually involved in mining in the first place.
Ethrun.net Review Conclusion
Ethrun.net is a fraudulent platform which is gaining a lot of popularity. The free mining scheme are just an attempt to lure in maximum amount of people, they might even pay some clients every once in a while but that does not mean they are a reliable service.
This platform is a ponzi scheme and it will be inevitably blow in the near future which will leave all the investors empty handed. If you ever send your funds to them, know that there isn’t anything one can do to get them back when the things you are promised does not get executed which is bound to happen at anytime.
Have you been scammed by Ethrun.net? Let us know your experience by leaving a comment below.
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