Mangocoin Accused of Fraudulent Use of Bitmain Brand Name

Anca F. Avatar
Aug 13, 2019
2 min reading time

Giant e mining company Bitmain has recently made a post on its blog in which it accused a lesser-known cryptocurrency ‘Mangocoin’ (MGC) of misusing the ‘Bitmain’ brand name.

Mangocoin named one of their so-called products ‘Bitmain Cloud Miner’ and promoted the miner under this name on its website and applications.

Bitmain has stated in previous publications that it does not have any affiliation with Mangocoin and its operations.

“‘1. “Mangocoin (MGC)” and its website, APP, social media accounts, WeChat groups, QQ groups, etc. are not business channels or platforms of Bitmain, and these have no connection or affiliation with us whatsoever.

2. The “Bitmain Cloud Miner” on any platform of “Mangocoin (MGC)” is not developed by Bitmain.”-read the blog post.

The cryptocurrency mining also stated that they will take legal action if more imposters use the brand name for their own promotional gain:

For the fraudulent use of the “Bitmain” brand and any imposters, we will resolutely adopt legal means to protect ourselves and our customers’ rights and interests.”

Bitmain then urges its customers to look for the authorized product provider and check the products themselves before buying them.

“We would like to remind our existing and potential customers to correctly identify the service provider when purchasing products, to sign up for or purchase anything online only after careful deliberation and stay alert to misleading promotions, illegal fund-raising, fraud and other malicious activities on the internet.”

The website of the Mangocoin company is shut down for maintenance, the page having an active countdown and the message “Something really good is coming very soon” which we assume will happen in 17 days, according to the timer.

It is yet unknown if the temporary shutdown is due to the dispute with Bitmain or it’s got something to do with the launch on a new product.

From what we currently know, Mangocoin is an ERC-20 token which was developed in Oregon which was created to facilitate the digital trading of agricultural products.

Featured image: Bitcoin Money News

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