Bitmain discovered the use of its brand to promote shitcoin

The largest manufacturer of mining equipment Bitmain found that the brand of the company is used by scammers to promote the Mangocoin cryptocurrency (MNG).

According to the company, scammers promote a product called “Bitmain Cloud Miner” and use it to popularize the Mangocoin cryptocurrency on their website, application and programs.

Bitmain has issued a warning that it is not related to Mangocoin-related applications, accounts on social networks and groups in instant messengers. In addition, the company’s lawyers reported to the law enforcement authorities about the unlawful use of the trademark.

“We would like to warn our existing and potential customers that they correctly identify the service provider when buying products, and that they register or buy something online only after careful consideration and stay informed about misleading promotions, illegal fundraising, fraud and other malicious acts on the Internet, ”the Bitmain report says.

Earlier it was reported that in the first quarter of 2019, Bitmain suffered significant losses – $ 310 million evaporated from the company’s accounts.