Having unofficially collapsed in December 2020 with the launch of Electrical Money and subsequent failed shitcoins, Mining Metropolis has now formally collapsed.

As per an e mail despatched out by CEO Greg Rogowski, Mining Metropolis has applied withdrawal restrictions.

Mining Metropolis associates have been unable to withdraw for properly over a yr, largely because of BTCV’s collapse.

Rogowski (proper) begins off his e mail with a sequence of excuses for Mining Metropolis’s collapse;

-coin initiatives which weren’t tailored into the every day buying and selling market but,

-a large mining theft related in dimension to that of Genesis Mining,

-force majeure occasions in China and Kazakhstan when the governments didn’t enable us to proceed mining actions even after we invested a lot in it,

-an invasion and struggle between Russia and Ukraine which doesn’t enable us to pay for electrical energy within the mining farms we ready in Russia because of sanctions made on Russian banks,

-compensation plan software program which overpaid and created authorized and monetary challenges,

-AML and MLM investigations by the authorities, specifically after new laws have been launched and required the enterprise to vary and adapt so as to proceed work legally.

Conspicuously absent is the precise cause Mining Metropolis collapsed, recruitment died and new funding dried up.

Assuring buyers that he doesn’t “plan to go bankrupt, disappear or shut the enterprise”, Rogowski reveals each payouts and withdrawals are suspended.

MineBest CEO, Eyal Avramovich, confirmed that he expects to get again stolen mining machines in just a few months, after which to maneuver the miners to new mining amenities.

Our companions will allow us to permit for extra mining days for everybody whose mining rewards have been quickly paused due to these challenges.

Extra info together with in regards to the short-term withdrawal limitations, resuming mining actions, and remuneration of charged again overpayments will probably be revealed quickly, as official communication of the corporate.

Eyal Avramovich (proper), who owns each Mining Metropolis via Mine Finest, mentioning “just a few months” brings us to iMine.

I obtained a tip off earlier this month that Mining Metropolis had secretly launched a brand new scheme concentrating on Asia.

iMine was arrange on the area “imine.com” on or round February 18th, 2022.

In its web site phrases and situations, iMine gives a co-working area deal with in Lviv, Ukraine.

Jorge Mesquita has been named CEO of iMine.

As per Mesquita’s LinkedIn profile, he’s based mostly out of Portugal. Following roles in IT, promoting and consulting, Mesquita reinvented himself as a blockchain bro in or round 2016.

One of many likes on Mesquita’s FaceBook profile is for Commerce Coin Membership, an MLM crypto Ponzi launched in mid 2016.

After which follows the standard string of failed cryptocurrency initiatives. Right here’s one, Universe Coin, of which Mesquita was COO of from July 2019 to Might 2020:

So if I knew about iMine just a few weeks in the past, why didn’t I cowl it on BehindMLM?

Eyal Avramovich has been very cautious to not publicly hyperlink iMine to himself, MineBest or Mining Metropolis.

I nonetheless haven’t been capable of confirm a hyperlink between Avramovich and iMine – however I’ve my suspicions.

A go to to iMine reveals it has the identical geo-blocking settings applied on Mining Metropolis’s web site. It’s because each iMine’s and Mining Metropolis’s web site domains share the identical Akamai name-servers.

Then there’s iMine’s enterprise mannequin, which is dare I say it’s similar to that of Mining Metropolis;

Crucially, what iMine associates who put money into a bundle will probably be mining isn’t disclosed.

What’s disclosed is iMine’s KYC supplier;

Your private knowledge are topic to an automatic decision-making based mostly when verification of your account on the Web site utilizing our third-party service supplier (Mobilum OÜ).

Lastly, iMine CEO Jorge Mesquita appreciated CloudBest on FaceBook:

CloudBest is one other firm owned by Eyal Avramovich. As per an e mail obtained by BehindMLM from an worker, CloudBest “gives IT service for Mining Metropolis”.

There are a variety of MLM Ponzi schemes Mesquita has appreciated over time. That nonetheless goes past the scope of this text.

None of that is concrete however collectively, and mixed with my reader tip off, does lend itself to iMine being linked to Avramovich and Mining Metropolis.

Following on from that, when Avramovich requested for just a few months, I imagine the plan is to lift as a lot as they’ll via iMine and divert that again into Mining Metropolis.

Or Mining Metropolis will probably be deserted altogether and merged into iMine. In different phrases, a method or one other iMine is a rebranding of Avramovich’s Ponzi scheme.

In an April fifteenth submit to Mining Metropolis’s official Twitter account, a cryptic “merging and settlement course of” is talked about:

Whether or not it is a covert reference to iMine or not I can’t say. There are not any replies to the tweet, which is extremely suspicious.

For reference, that is what responses to Mining Metropolis’s social media often appears like:

In any occasion, this stuff have a behavior of leaking fairly shortly as soon as they’re on the market. Keep tuned for affirmation iMine is in reality linked to Mining Metropolis (or not).