ScamCrypto Forum Forums Consumer Complaints / Protection Localbitminer Review: A Potential $3,000 Scam Exposed


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      Dear Members,

      We bring to your attention an important review of a website known as Localbitminer, found at This review aims to dissect the credibility of this platform in the wake of rising concerns about its legitimacy.

      Localbitminer – A Detailed Investigation

      A complaint lodged with the Better Business Bureau (BBB) on February 6, 2023, by an Ohio resident, revealed a potential scam involving a loss of $3,000. The individual was enticed into investing $1,000, followed by additional demands for money under various pretexts, leading to a financial loss without any successful withdrawal of funds.

      Website Overview:

      Registered on January 28, 2021, through Hosting Concepts B.V. d/b/a, is a two-year-old domain. It appears to have minimal traffic and limited web presence, with only a few pages indexed on Google. Notably, there’s a discrepancy in the contact information with a Gmail address reported in the BBB complaint, whereas the website lists a different email address.

      Platform Analysis claims to be a Forex and Bitcoin trading platform, offering various membership levels and trading tools. They assert to have been in business for 5 years, processing numerous transactions. However, these claims seem exaggerated, especially given the website’s recent registration.

      Investment Plans and Returns

      The platform offers investment plans promising returns ranging from 120% to 300% in a short span, which is highly unrealistic and a significant red flag in the investment world. Such high returns in a brief period are typically associated with high-risk ventures and are often unsustainable.

      Regulatory Status and Credibility

      Despite claims of being regulated, no concrete evidence is provided to substantiate this claim. The lack of regulatory proof, coupled with unrealistic returns and questionable web presence, raises serious concerns about the platform’s legitimacy.

      Bottom Line: Localbitminer – Legit or Scam?

      Localbitminer emerges as a highly suspicious investment platform, with unrealistic return promises and dubious operational history. The BBB complaint adds to the skepticism, making it advisable to steer clear of such platforms and seek investment opportunities from reliable and well-established sources.

      Stay informed, and prioritize safety in your investment choices.

      Sathish M

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