Chainmine promises its users that they will participate in lucrative crypto mining. However, there is very little information about how the clients will make money or how it works. This is common with unregulated brokers and unlicensed financial services in popular areas like cryptocurrency and forex. There is not very much explanation about how this financial service works.
We Have Found Some Problems with Chainmine
In addition to the lack of information about how Chainmine works and who runs it, there is no indication of a license. Even though the blockchain is not regulated, anyone who offers cryptocurrency trading or mining should have financial services or a brokerage license. Without a license, there is no recourse for clients except to go directly to law enforcement. A regulator can take disciplinary action if there is a problem, but without a license, there is no oversight.
Here Are Some Chainmine Red Flags:
Not regulated
No transparency
No contact information
Not regulated
Bad reviews
What Should You Do If You Have an Account with Chainmine?
We do not recommend opening an account with Chainmine. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds and will help you prepare your claim.
