As you can infer from our title, KanoCKPool is the latest cloud mining scam to infect the cryptocurrency realm. Nothing about kanockpool.com is authentic and their refusal to execute withdrawals for their investors has resulted in the exposure of their unethical business practices. Do yourself a favor by extracting the facts about this shady cloud mining site from our unbiased and factual review before you unknowingly suffer the consequences.
What is KanoCKPool?
KanoCKPool.com is a cloud mining site that claims to be free of charge and achieves high returns of 1.4% daily. Bear in mind that most legitimate cloud mining sites, on average, generate an annual percentage yield of 20%, not 511% as KanoCKPool is leading us to believe. Then of course there is the truth that most cloud mining sites are scams to begin with, couple this fact with the shady dealings of the site in question and one can quickly begin to realize how illegitimate of a business venture this is.
According to the site, the KanoCKPool was founded in 2014 as a Bitcoin mining startup. Having developed overtime to become the “world’s top Bitcoin mining pool” is perhaps the most ill-founded assertion made upon the website. They have also claimed to host the most advanced deployment technology along with release various cloud mining products that they have created.
How does the KanoCKPool program work?
Just like most HYIP programs that turn out to be Ponzi schemes, KanoCKPool operates with staggering similarity to other Bitcoin related scams we have exposed. Requiring a deposit to get started with their cloud mining operation, the deposits fulfilled by new investors are used to pay initial investors while the margins are kept by the owners of the program. This questionable practice seemingly creates the illusion that their program is legitimate when in actuality the scammers behind this system are just bidding their time.
It isn’t until the quantity of new investors are so low that the creators behind this scam are unable to pay their initial investors. During moments like these, which happen quite often, do the founders behind this system decide to tuck tail and run. Most cloud mining scam sites, like kanockpool.com, use VPNs and other anonymous hosting methods so that when it is time is ripe all they have to do is close down shop and plot their next scheme.
Reports have been flooding in left-and-right about investors who have been unsuccessful in executing withdrawals with KanoCKPool. Although it appears that KanoCKPool was following this Ponzi scheme format by paying their customers early on it is evident that their list of newly depositing investors has grown slim which is why the site has resorted to vague excuses as to why they are no longer authorizing withdrawals for their investors.
KanoCKPool Scam Test
Does the website promise unrealistic returns?
Without question! It doesn’t take a mathematician to figure out that the return yields allegedly accrued by KanoCKPool are suspicious and unbelievable. Promising a daily return yield of 1.4% which equates to an annual percentage yield of 511% is much greater than the annual percentage yield of 20% achieved by proven and legitimate cloud mining sites.
Is there information regarding the owners of the site?
Zero information pertaining to the owners or the company running KanoCKPool are present on the website. In addition, a WHOIS search will reveal that the creators behind this system are using a privacy service to hide their true identities. Again, this characteristically falls in place with the operations carried out by most Bitcoin related schemes.
How old is the website?
As we mentioned earlier, kanockpool.com claims to have been founded in 2014. However, what a WHOIS query did reveal to us would be how the website was only founded on June 30th, 2017. Which at the time of writing this review means that the site is just over 2 months old, no where near the 3 years it allegedly has been in operation.
Does the site have a physical address?
No, the only address we are provided would be their support email address. No information of their physical location such as office address or phone number are ever provided. In addition, the founders behind this scam relied on WHO.IS, an anonymous hosting service which makes finding out information about the owners of this scam virtually impossible. Registered under an unknown jurisdiction and using multiple IP addresses means that tracking these scammers is out of our reach. Which ultimately for you means that if they disappear with your money there is no way of getting your funds back.
Are any legitimate sites associated with the website?
Most the sites linked with kanockpool.com are claiming that the cloud mining program is nothing but another Ponzi scheme. A Google query will reveal how many investors who put their faith and money with this program has been unable to receive their withdrawal requests even after a period of over 30 days. Other sites associated with KanoCKPool would be YouTube channels that are currently endorsing this cloud mining program with affiliate links, and as you can imagine are receiving a good chunk of change for your sign up.
How popular is the website?
During the time of writing this review, kanockpool.com had a global ranking of 66,206 on Alexa.com. According to Alexa, most of the visitors seem to come from India, Brazil, Russia, Indonesia and Italy.
KanoCKPool Review Conclusion
With the evidence we have provided on this website we believe it goes without question that we are dealing with a classic cloud mining scam. If you need more evidence, just check out the KanoCKPool thread on BitcoinTalk.org. Deceiving investors to get started with their program only to refuse their withdrawal requests is an illegal business practice and proof enough that we are dealing with a fraudulent investment operation. If you value your time and hard-earned money, avoid this website and other sites currently endorsing this scam.
Verdict: KanoCKPool is a SCAM!
Blacklisted site: kanockpool.com
Have you been scammed by Kanockpool.com? Please inform us by commenting below!
To join our member list and receive additional scam warnings from us directly to your inbox, please subscribe to ScamBitcoin.com!