HIVE Blockchain Warns of Fraudsters Impersonating Them with Bogus Websites

HIVE Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Technologies has issued a warning on several impersonators pretending to be them and are allegedly involved in fraud. According to the note published on its official website, some people have already been affected by the matter and had reportedly lost money because of the scammers.

The blockchain firm published a series of screenshots that have unveiled how these fake sites are sophistically copying HIVE’s content to catch victims and make it appear legit. For example, in one of the bogus websites, the scammers noted that “this company practice advanced trading and return good profit to members,” implying that it is involved in investment fraud schemes. However, HIVE Blockchain Technologies did not disclose the fraudsters’ domains and asked people not to search for them.

“Some of these impersonator groups appear to promise large returns on investment, and are not legitimate. Other impostors are promoting investment through an app. We are not associated with any of these activities,” the cryptocurrency mining data center operator commented in the statement.

Moreover, the firm announced it will take legal action against those who are involved in the fraudulent schemes impersonating HIVE: “We are taking legal action against the owners of these imposter websites in Vancouver court, which we will be part of an attempt to revoke their web hosting and domain name registration. We will submit a complaint through the ICANN contractual compliance system.”

Hitting Target of 1 Exahash in BTC Mining

In other news coming from HIVE, Finance Magnates reported in August that the crypto mining operator achieved its previously announced target of 1 Exahash per second (EX/s) of Bitcoin mining Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term. Furthermore, in the last few months, HIVE Blockchain has expanded its Bitcoin mining capacity significantly with the addition of several crypto mining machines.

Recently, the firm ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies in an effort to increase the company’s overall crypto mining capacity.