Experiment Testing (Scam or not)

So yesterday I found out this site that its the literal meaning of too good to be true called “”. Me being me I decided to check out the site and their “Proof of payments” to check whether this site actually pays out or not. The Payout tab looked really convincing in terms of legitimate LTC transactions that I have checked my self. Their packages were really hard to believe with what they are paying out.

I chose the V1.1 where it costs 1 LTC and it allegedly gives you 0.2 LTC daily. I know for a fact I will not going to be getting 0.2 LTC daily but then again the sole purpose of me doing this is to test out whether the service is legitimate or not.

So Day 1, I still do not sh*t about the site and I decided to receive my first payout of 0.01 LTC (The minimum withdraw amount) and surprisingly it went through and I have successfully received it. So I waited until their “Godly” computers mine more LTC for me and after a couple of hours I had about 0.1 LTC in my balance, decided to withdraw it and it went through again.

Now I am kind of confident that the site will pay me ! but hold on…After receiving my payment I decided to check my Account tab and I saw that my IPV (Instant Payout Value) is 0.025 LTC which means I can only withdraw that specific amount and if I withdraw any amount higher than that I would have to either wait “10+” days to be manually processed OR upgrade to the next package to increase my IPV… (Bare in mind after withdrawing 0.025 LTC the IPV went to 0)

Now at this point i came into conclusion that they will either (A) They made me withdraw about 0.15 LTC to boost my confidence and never pay me back and tried to persuade me into upgrading for a higher package so that they will “increase my IPV” , (B) They actually will pay me the mined LTC after 10+days

At the end I only did this experiment to actually TEST it by myself and to give a heads up to possible people who are interested in investing in this site, I will be updating this forum after 10+ days if I do receive my payments or not

For those wondering the company says on their site that they do have an address as well as a phone number but I cant manage to get in touch with them.

I have 50MH/s and it takes me 2 weeks to make .2 LTC…so yeah that is for sure a scam…most scams no days do what they say a few times before they hit u with the “catch”…thank you for posting your experience…hopefully it will help steer people away form this

1 Like

Ltcminer is for sure a scam website, no one should invest their hard earned money in it. I invested some amount of my LTC to increase the IPV but they still limit you. I dont think they have any real miners, they are just taking people’s money and re-distributing it. I also wrote an email from the support page on the site very kindly asking if IPV will be renewed but I believe support is unavailable and they do not respond. It is more than a month now, they have not paid my litecoin deposits, let alone the 10+ days they say on their website.

1 Like

I was wondering: Where do you go for Litecoin mining? Bitcoin mining seems to be pretty easy to find. But, Litecoin is tougher. I think that is one thing that lures people to sites like Ltcminer. Thank you in advance for your reply!

I just pulled the last 55 days of payouts (max you can pull up) from their website and put them in a spreadsheet, sorting by Payto address. Looking through the data it appears that Level 1 accounts get a maximum of .15 back in payments (15%); level 2 accounts get 0.45 LC back in payments (9%), level 3 get 3.0 LC back in payments (15%). Wasn’t able to determine anything for level 4 accounts. Once you get to the designated instant payout amounts it doesn’t look like you ever receive anything else.




they declined my fist 1.1 LTC withdrawal after the Big Investment.
They said maybe I get paid after 10 days and MANUALLY.

Please Stay Away from them.
Don’t even try their free machines.
They want to Lure you and Slaughter You.

I can take the loss.

But I have their address in London, the owner is Italian, Tax Avoider waiting for his case to be settled.

I’ll fight with the help of friends in London to have their web page removed.

Stay away from and also be far from too. All they are scams.

Report this site to

the SEC also has a “Whistle Blower” reward for any scams that lead to arrests…just make sure they are actually scams because if you report someone and they have all their stuff in order then your the one who goes to jail for filing a false claim…so do your research before you go just telling on random startups


I just joined the LTC forum in order to reply to this. I invested 1 LTC, ($55) and after 20+ days, my return is about $5. I tried contacting them at least 10 times with nothing back. When that happens, you know it’s fake. The bad new, I am out about $50…The good news, I am out only $50. Need to get the word out this is a complete and total SCAM!!!

I hope to get more involved in this booming trend. It’s fun, learned a lot about computers, and there are some really good people out there, especially on youtube showing how to mine. Of course, you can turn this hobby into an actual money maker.

Feel free to contact me if you wanted to know more. [email protected]. I am know investing in BITCONNECT, which does appear to be legitimate. But once again, never EVER invest more than you can afford to lose. Think of this as LAS VEGAS!!! Have fun… V/R Jeff Ellis

1 Like

You are so right!

One clue: When you go to withdraw, they want to send it to the account “identifier” for your account at LiteVault, not the Wallet.

I checked with LiteVault, and confirmed that the “identifier” has nothing to do with Wallets.

Since we all have multiple coins, also be wary of: - stopped paying Nov 10 stopped long ago stopped long ago

These sites have some very sophisticated web design. (Most in a language called “Bootstrap” developed by Twitter). The fancy animations are quite the “come-on”!

In other parts of my day I do website management. Today I was browsing help wanted notices posted on a job board. Sure enough, there was one for “BitCoin site”! I let the Customer service people know, and they told me they watch BitCoin site postings! I also post to Twitter on the subject of the “investment” scam sites.

They were offering about $1000USD to build the site! The price was quoted in INR, so they are also playing to desperate people, with seemingly large prospects of pay. The sites are sophisticated, and considering they usually attract a million or so (USD, GBP, EUR) in “investments”, paying 1000 to earn 1,000,000 is amazing ROI!

Also, do a Google search on “Bitconnect scam” and let us know it it is or isn’t… if people now are just gun shy!

bitconnect will delete your account even with money in it…that’s what they did with all the coins I mined…now I have nothing…not to mention that the Core Nodes for windows no longer sync…
so I’m glad I didn’t buy any…especially since they “have their own exchange” and bitcoinnect is not listed on any other exchanges…notice here:

Do your research before buying random coins…if its NOT “mineable”…then its more than likely a VERY BAD IDEA TO BUY IT…
bitconnect is “mineable” but no exchanges take it so its pointless…

without mining you just have a “hackable blockchain”…
look up what happened to the “DAO” on Ether blockchain…any Proof of Stake coin is Crap in My Book…but that’s just my opinion…

Personally I don’t put any money on anything that doesn’t have a WHOLE LOT of volume every 24 hours…

Let us know when you make a successful withdrawal.

I have been waiting for weeks. Plenty of comments that they do not honor withdrawal requests.

Also, they do not respond to Support contacts.

The Wallet address that they want to use for my “Withdrawal” is not valid. There is no way for us to change it to a correct Wallet address, and they refuse to reply to Support contacts.

Don’t perpetuate the scam.

Tell us how you were successful in Withdrawal. Don’t fall for the scam that to get paid faster, you need to invest more.

Definite scam site. They get you with the low accounts. I threw 1 LC at it, tried a withdraw of .01 and it worked. I left it a day and withdrew up to my maximum IPV of .12. IPV now at zero and not climbing. I have another .1 in there I can’t withdraw without the 10+day wait. I have 2 friends that tried the Version 1.4 and this is where they really get you. They give you a wallet to send to just like I got for the 1.1, but once you send to it the address changes on their account page. It just sits on their page as waiting payment and the wallet ID is not the one that it popped up to send to. Customer support does not exist. It’s merely a webpage form to make you feel like you are connecting to someone. They have not gotten any response. Their 30 LC transaction records show spent in larger transactions of 150+ LC. I’m guessing this site is raking in quite a large chunk of peoples money right now.

this site is clearly a scam, i have requested numerous payouts, some as many as 12 weeks ago but still nothing… when you contact support about this they dont get back to you

Is the same as

the 2nd link is gone. Mostly these sites pay out it seems but NEVER let you get your coin. Usually because of ‘maintenance’ etc. Would not waste your time on such. They always have a catch. IMHO.

Well I was curious as I have had payments from go through just fine. Now granted they are the lowest level but wasn’t around when the discussion about the .io was going on.