Now Mining launched late final yr and billed itself because the “official advertising and marketing arm of Genesis Mining”.
Regardless of the declare, Now Mining went on to break down shortly after launch.
Headed up by Luis Ortega, lately Now Mining has been relaunched as VIP Mining.
There’s no point out of a Genesis Mining partnership within the newest incarnation, nevertheless that didn’t cease the corporate from reaching out to me to substantiate no partnership with Ortega or VIP mining.
With respect to Now Mining’s preliminary claims, Shah Hafizi, Chief Compliance Officer at Genesis Mining writes;
I write to tell you that Luis Ortega’s declare that he has had a partnership with Genesis Mining is fake and deceptive to the general public.
We’ve by no means had a partnership and even communications with Mr. Ortega.
Sadly, Mr. Ortega is considered one of many who’ve made false claims of mining capability by unlawfully utilizing the Genesis Mining trademark.
This naturally raises two questions;
Firstly why Ortega lied concerning the Genesis Mining partnership and secondly, if Now Mining wasn’t cloud mining – the place did affiliate ROI funds come from?
For his or her half, Hafizi claims Genesis Mining has ‘notified a number of regulatory authorities of Mr. Ortega’s fraudulent scheme‘.
In our revealed December 2017 Now Mining overview, we concluded Now Mining was doubtless utilizing newly invested funds to pay associates a each day ROI.
Genesis Mining denying any partnership with the corporate or Ortega solely strengthens that viewpoint.
Moreover it casts doubt on VIP Mining being something greater than a Ponzi reboot. Which we sort of figured anyway, however is a conclusion now strengthened by the chance of no cloud mining happening.