HashFlare Cancels All Their Customers’ SHA-256 Bitcoin Mining Contracts

Earlier today, the UK based cloud mining company HashFlare cancelled all its SHA-256 Bitcoin mining contracts, leaving countless customers angry and frustrated.

To make matters worse, HashFlare will not be issuing refunds or prorated payouts. On their Facebook page and email communications, HashFlare wrote the following:

Dear users!

As you know, the last few months have been a difficult time for the cryptocurrency market, which has also affected the operation of our service.

We have made every possible effort in order to resolve the problem that has arisen ? for instance, we have considered a variety of technical solutions, which would have allowed us to lower expenses related to maintenance and electricity. However, due to the general instability of the market, the actions we have taken could not significantly influence the current situation.

For over a month our users encountered a situation when the payouts were lower than the maintenance fees, resulting in zero accruals to the balance. As of 18.07.2018, the payouts were lower than maintenance for 28 consecutive days.

BTC mining continues being unprofitable, in light of which we would like to inform you that on 18.07.2018 we were forced to start disabling SHA hardware and today, on 20.07.2018, stop the mining service of active SHA-256 contracts in accordance with clause 5.5 of our Terms of Service, which are required to be accepted when creating a purchase and are the basis of concluding the contract.

We expect that the cryptocurrency market situation will stabilize in the nearest future and we will be able to offer our users new advantageous solutions.

We will continue to inform you about any changes. Stay tuned for updates!

Respectfully,

HashFlare team

HashFlare scam