The UK court has ordered the closure of crypto mining platform BTCMining, which is suspected of cross-border fraud

BTCMining, a British crypto mining platform, has been shut down by court over allegations of cross-border fraud. The company provided so-called "cloud mining" services to customers in many countries around the world, collecting fees but not delivering promised profits and preventing users from withdrawing funds. According to the investigation of the British Official Receiver's Office, the company, founded in January 2024, has a number of violations: the registered address is fake, the only director is missing, and the website has also been shut down. Victims from Estonia, Mauritania and other countries have reported confirmed losses of more than $18,000, but the actual amount of fraud may be higher. The Manchester High Court made a ruling to close the company after a hearing on April 28.