SpaceMiner Review: A “Click a Button” Crypto Mining Ponzi Scheme
Overview
SpaceMiner is a suspicious crypto mining investment platform that promotes itself as a “play to earn” app. It uses a familiar scam model where investors put in USDT (Tether) and earn daily returns by performing simple tasks, such as clicking buttons in the app. This strategy has been employed by numerous other Ponzi schemes, especially since 2021.
SpaceMiner’s Lack of Transparency
One of the most glaring concerns about SpaceMiner is the complete lack of verifiable information about who owns or runs the company. The website domain, h5.spaceminer.top, was privately registered on December 30, 2023, providing no transparency about its origin or leadership. As a rule of thumb, any MLM or investment platform that fails to disclose key executive or ownership information should be approached with extreme caution.
SpaceMiner’s Product Offering
SpaceMiner does not offer any retailable products or services. The only thing affiliates can do is recruit others into the scheme and participate in the investment opportunity themselves. This is a classic hallmark of a Ponzi scheme, where new investments are needed to pay returns to earlier investors.
How SpaceMiner’s Compensation Plan Works
- Investment Tiers Affiliates invest different amounts of USDT into SpaceMiner, with higher investments promising greater daily returns. Here’s a breakdown:
- VIP1: Invest 40 USDT to earn 1 USDT daily
- VIP2: Invest 80 USDT to earn 2 USDT daily
- VIP3: Invest 240 USDT to earn 6 USDT daily
- VIP4: Invest 800 USDT to earn 20 USDT daily
- VIP5: Invest 2100 USDT to earn 60 USDT daily
- VIP6: Invest 6300 USDT to earn 180 USDT daily
- VIP7: Invest 18,000 USDT to earn 600 USDT daily
- Staking Plans SpaceMiner also offers staking plans, where affiliates can invest for a fixed period and earn a return at the end:
- 7 days: 1% return
- 30 days: 5% return
- 60 days: 15% return
- 90 days: 25% return
- 180 days: 55% return
- Affiliate Ranks and Requirements SpaceMiner has five affiliate ranks, each with specific criteria for daily ROI and recruitment:
- Level 4 Miner: Recruit 10 affiliates earning 20 USDT daily
- Level 3 Miner: Recruit 40 affiliates earning 100 USDT daily
- Level 2 Miner: Recruit 100 affiliates earning 300 USDT daily
- Level 1 Miner: Recruit 200 affiliates earning 800 USDT daily
- Star Commander: Recruit 300 affiliates earning 10,000 USDT daily
- Referral Commissions
- Level 1 (direct recruits): 5%
- Level 2: 3%
- ROI Matching Bonus
- Level 1: 3% match on ROI
- Level 2: 2% match on ROI
- Monthly Salaries Affiliates who reach higher ranks receive monthly salaries:
- Level 4 Miner: 30 USDT
- Level 3 Miner: 100 USDT
- Level 2 Miner: 300 USDT
- Level 1 Miner: 800 USDT
- Star Commander: 30,000 USDT
How to Join SpaceMiner
While becoming a SpaceMiner affiliate is free, full participation requires a minimum investment of 40 USDT. Affiliates are incentivized to invest more to earn higher daily returns and commissions.
The Problem with SpaceMiner: Classic Ponzi Structure
SpaceMiner employs a common ruse seen in many fraudulent schemes: clicking a button to “earn” crypto mining rewards. The idea is that affiliates invest money and then perform a simple task daily to get returns. However, there is no evidence of real crypto mining operations generating these returns. Instead, new investments are used to pay existing members, which is the essence of a Ponzi scheme.
- Illogical Business Model: If SpaceMiner had real crypto mining operations generating substantial profits, they wouldn’t need affiliates’ investments. The claim that clicking a button generates crypto revenue makes no sense.
- Recycled Investment Funds: As with most Ponzi schemes, the system relies on a constant influx of new members. Once recruitment slows down, the scheme collapses, leaving most investors with significant losses.
Red Flags to Watch For
- Lack of Ownership Disclosure: SpaceMiner fails to provide any information about who runs or owns the company, making it difficult to hold anyone accountable.
- Unsubstantiated Revenue Claims: The company does not provide proof of external revenue sources or genuine crypto mining operations.
- Unrealistic ROI Promises: Daily returns as high as 3.3% are unsustainable and a strong indicator of a Ponzi scheme.
- Familiar MLM Ponzi Tactics: The compensation plan focuses heavily on recruitment, a tactic often used in pyramid schemes.
Conclusion: Is SpaceMiner a Scam?
Based on the evidence, SpaceMiner is likely a “click a button” Ponzi scheme. Its business model is not sustainable and will eventually collapse when new investments dry up. If you’re considering investing, think long and hard before risking your money on such a platform. Ponzi schemes always end in losses for the majority of participants, and SpaceMiner shows no signs of being different.
Stay Safe: Be cautious of investment opportunities that promise high returns with little effort. Always research the platform thoroughly and consult financial experts before investing.