A UK-based cryptocurrency asset firm, BTCMining, has been forced to close doors after receiving multiple complaints from international customers. These clients reported making payments for cryptocurrency mining services without receiving the promised returns or being able to withdraw their funds. The issue came to light following a statement released by authorities on Wednesday.

BTCMining claimed to offer a mining service where customers could pay to mine cryptocurrency and in return, receive income from their investments. However, the company has been accused of scamming users across various nations, including Estonia, Mauritania, Iran, New Zealand, Poland, and Romania. The complaints were initially reported to Action Fraud, the UK’s national fraud, and cybercrime reporting center, by victims who stated they had not received the mining services they had paid for, with some also facing demands for additional payments.

Further investigation revealed that BTCMining Limited lacked a legitimate registered address in the UK, raising concerns about the company’s operations. A High Court hearing in Manchester on April 28, 2025, resulted in the closure of the company. David Usher, the chief investigator for the Insolvency Service, emphasized the significance of the intervention given the global scale of the fraud, highlighting the importance of protecting the public both in the UK and internationally from such deceptive practices.

Efforts to reach the company’s director, Stibich Martins Yhaicha Luzia, proved futile. Luzia, who had been the sole director since the company’s incorporation in January 2024, was unreachable through known email addresses and telephone numbers, and the company’s websites either became inactive or failed to provide any new contact information. Additionally, the address listed for Luzia turned out to be a residential property whose occupants denied any association with the business.

Although only six complaints have been formally recorded with Action Fraud, authorities suspect the actual number of affected individuals might be much higher, with customers reportedly losing over $18,000. The concern is that there could be more victims who have yet to come forward.

Tweet: BTCMining, a UK cryptocurrency firm, shuts down after global complaints of unfulfilled promises and blocked withdrawals. Authorities step in to protect the public from further scams. #CryptoScam #UKBusinessClosure