Fflakmining is yet another crypto cloud-mining operation, which instantly makes it suspicious for many of the experienced members of the crypto community. Cloud-mining operations aren’t just very unlikely to make ends meet math-wise, they are the preferred “tools” of scammers, who can pay their victims in a trickle, until they built a pot large-enough to close up shop and fade away with the lion’s share of the funds. Even cloud miners that are legit, are generally unprofitable.
Unfortunately, the business model described at fflakmining.com fits the above mold perfectly. For the time being, the operation does seem to be paying its clients (proof of payment has been posted in the comment sections of several reviews, though we can obviously not vouch for the validity of these claims). All that is well in-line with the above described model though. Solid proof regarding actual mining activity – which would preferably have to come in the shape of a public mining address – cannot be found anywhere on the fflakmining.com website, or elsewhere.
What Exactly Does fflakmining.com Offer?
To make a long story short: cloud mining contracts. We’re talking about ETH, BTC, LTC and Monero mining here, and for each of those cryptos, different contracts are offered. According to the operator, its most popular contract is the BTC one, which requires a minimum investment of $10 per 100 GH/s. The return on this contract is 1.1% per day, meaning that as soon as they “start mining,” users can expect $0.11 to be added to their account within 24 hours. This way, it will obviously take the user around 90 days (3 months) to earn back the principal.
Though the site states that profits will be rolling in within a day, that is simply not true. One can only expect any kind of profits after the first 3 months of fflakmining.com use. Afterwards though, the 1.1% per day deal, which adds up to ~33% per month, suddenly becomes too good to be true. The contracts are for 3-year periods, so one should theoretically pocket quite some profits before they mature, but as said, the math is a little too generous over the long run.
The other crypto contracts offer slightly different terms, but by and large, they are similar to the above presented one.
While there are service fees involved in the deal too, according to the calculator featured at the site, these only amount to some $17.17 per year, for a $10 contract, which will thus end up generating a profit of $36.64. Even if one subtracts the principal from that, the clean profit still amounts to some $26.64, which is indeed the definition of too-good-to-be-true.
Just picture someone investing $100k instead of the $10. At the end of the year, this person would walk away with $266,447 in clean profits. Not very likely huh?
The site does mention that the whole deal may slip into unprofitable territory as the variables of the equation change. In this case, they say that mining will be suspended until things turn profitable again. On our part, we find this little added fact quite unsettling.
The operation offers a money-back guarantee, which in their case is a no-brainer, really. Since they are only ever supposed to pay their users a trickle, they can obviously afford to pay and keep things ticking until they feel they’ve amassed enough funds.
Fflakmining also offer a 15-day trial period, during which their users can assess the whole process. Those who upgrade to a paid contract afterwards, can keep their hashpower and the profits accrued during the trial. There is no actual proof of mining offered during this period either though.
What fflakmining.com Has Going for It
Unlike a typical cloud mining scam, Fflak Mining are actually quite transparent in regards to the people running the operation. They list their leadership with names and pictures. The company behind the operation is Cointech Ltd. though granted, not much information is made available on it. The About Us page of the website says that the operation was launched in 2012, and indeed, Fflak’s main website, fflak.com was registered in 2012 as well.
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Red Flags and Question Marks
Everything considered, the corporate background of the operation is far from transparent. Cointech Ltd. is apparently based in Hong Kong (at The New World Tower, 16 Queen’s Road, Central), but there seems to be a UK-registered company operating under the same name, too. No information is available online about the Hong Kong-based Cointech Ltd., though one would think that since 2012, it would’ve left a rather prominent online footprint.
Though the main site of the operation is indeed ~5 years old, the site which runs the actual cloud mining scheme, is only a couple of months old. It was registered in August, 2017, by a certain Ronda Fisher, based in Sao Paulo, Brazil.
Though there are photos of the Fflak team provided on the above mentioned About Us page, they have a stock photo of a corporate team on that same page, which makes absolutely no sense. A solid operation, with actual offices and activity going on, would find it extremely simple and easy to upload a photo of its own employees pondering over tablets and notepads.
As said in the beginning of this review, there is no proof of mining offered by the operator in any shape or form. They do have a video of a mining farm in their Data Center section, but such a video can be located and uploaded by anyone within a few minutes. By solid proof in this regard, we mean a public mining address.
Being a little over a couple of months old, Fflakmining.com hasn’t had the time to build up much of a reputation. Judging by the sparse user feedback that’s available, it looks like the operation is trickling funds back to its clients as promised – for the time being. A page dedicated to crypto scams on Steemit, has fflakmining listed though, designating it a “fake cloudmining scam.”
As of November 19, 2017, Fflakmining has a SimilarWeb global rank of 166,133, indicating this is a rather popular site. Much of its traffic consists of people from Russia, Brazil, United States, India and Indonesia.
Fflakmining Review Conclusion
By the looks of things, FFlakmining.com might just turn out to be a cloud mining operation that’s paying for a while, only to fold down the line, taking the lion’s share of its users’ investments with it. The operation offers no actual proof of mining, in the shape of a public mining address, so there is no proof of profit-generating technology offered. That’s a capital sin in our book.
Review Verdict: FflakMining is a SCAM!
Blacklisted Sites: FFlakmining.com
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