UK court orders BTCMining, a crypto mining platform suspected of international fraud, to shut down

the British cryptocurrency mining platform BTCMining has been ordered to close by the court for alleged cross-border fraud. The company provided so-called "cloud mining" services to customers in multiple countries around the world, but failed to deliver the promised returns after collecting fees and prevented users from withdrawing funds. According to the investigation by the UK Insolvency Service, the company, established in January 2024, engaged in multiple violations: the registered address was forged, the sole director was unreachable, and the website has also been shut down. Victims from countries such as Estonia and Mauritania have already reported losses exceeding $18,000, but the actual amount defrauded may be higher. The Manchester High Court issued the ruling to close the company after a hearing on April 28th.