Coinn

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SCAM – NOT PAYING!

Coinn, that’s right, 2 N’s, is a highly advanced cryptocurrency cloud mining company established in 2016. So, by my count we are now up to about 2,000 of this type of company this year. So, what sets this one apart from all the other scams,… err,… I mean bitcoin investment and mining companies?

Well, apparently it offers a wide array of specially designed services to assist bitcoin holders in making good investment decisions. The problem is that none of these services are actually listed on the website. In any case, if you actually believe any of this garbage then you had better take a look at my basics page to learn a thing or two about HYIP investing.

This HYIP has a lot of similarities with the recent BitFinest and Hashwave, and this should give you an idea of the investment strategy you should employ for this one. If you missed those, just read a little bit further and I’ll spell it out for you. Pleasingly, the presentation video even features the lovely, now curly-haired model from Hashwave.

Min.Daily%Days%Paying?RiskRelease
0.0013.6%33118.8%stat-scamrate_dangerYes, 5% fee

Investment Plans

In a great example of the “keep it simple” principle, Coinn delivers a classic bitcoin HYIP with a single plan of 3.6% daily, principal release anytime. Definitely my preferred type of HYIP, but not the most stunning performers lately which many of you have probably noticed.

Anyway, the site is bitcoin only, the minimum deposit is 0.001 BTC, and the minimum withdrawal is also 0.001 BTC. This minimum is probably a bit high if you are a more modest investor, and given the recent spate of HYIPs with minimum release fees of 0.01 BTC, it may not be worthwhile. At the time of writing I am unsure if the 0.01 minimum applies for this fee, so just hold off for a day, or ask in the chat to confirm.

Investment Strategy

As many of this type of HYIP have failed to run for the expected 30 days, or 100% ROI point, a much more successful strategy has been to aim for about 10 to 15 days of returns and then release your deposit. For Hashwave I withdrew my large deposit at 15 days (54%), and for BitFinest I got out a little bit too early at 12 days (43.2%). In both cases, a 5% fee was taken from the deposit reducing the overall gain, but hey, a smaller gain and your deposit back is better than a large loss, eh?

Details

TypeDetails (if given)
NameCoinn Cryptocurrency Mining Limited
URLhttps://coinn.io/
Date Started6th October 2016
Original Plans1. 3.6% daily from 0.0001
IP Address186.2.161.168
Hosting LocationRostov, Yaroslavskaya Oblast', Russia
Company AddressThe Shard, 32 London Bridge Street,
London
Contact Phone+44 20 3287 1837
Emailsupport@coinn.io
Company Number10386463
Registrar DetailsCompanies House, Cardiff, 20th September 2016

Website

The website is pretty straight forward and has a lot of similarities with BitFinest as mentioned before. The site features SLL and anti-DDOS security as well as  the usual number of spelling and grammar errors. The most obvious one being the “Deposit” button right in the middle of the main page. It reads: “DEPOSTI” – so close!

Snapshot of Coinn

Snapshot of Coinn

HYIP Log

DateDetails
6th OctoberSign up and add initial investment. Alexa rank: n/a
7th OctoberPayment received, instant withdrawal. Alexa rank: 19,795,365.
Accounts: 1,826. Deposits: 58.8 BTC
8th OctoberPayment received, instant withdrawal. Alexa rank: 4,180,947
Accounts: 3,074. Deposits: 118.9 BTC
9th OctoberPayment received, instant withdrawal. Alexa rank: 693,460
Accounts: 4,097. Deposits: 203.9 BTC
10th OctoberPayment received, instant withdrawal. Alexa rank: 565,949
Accounts: 4,495. Deposits: 192 BTC
Drop in deposits - keep a watch on level
11th OctoberPayment received, instant withdrawal. Alexa rank: 495,971
Accounts: 5,370. Deposits: 298 BTC
12th OctoberPayment received, instant withdrawal. Alexa rank: 461,140
Accounts: 6,339. Deposits: 397 BTC
13th OctoberPayment received, instant withdrawal. Alexa rank: 418,909
Accounts: 7,212. Deposits: 552 BTC.
14th OctoberPayment received, instant withdrawal. Alexa rank: 418,909
Accounts: 7,982. Deposits: 752 BTC.
15th OctoberPayment received, instant withdrawal. Alexa rank: 418,909
Accounts: 8,682 Deposits: 1,000 BTC.
16th OctoberPayment received, instant withdrawal. Alexa rank: 324,554
Accounts: 9,952 Deposits: 1,203 BTC. (think this might be bs)
17th OctoberPayment received, instant withdrawal. Alexa rank: 302,262
Accounts: 10,129 Deposits: 1,404 BTC. (think this might be bs)
18th OctoberPayment received, instant withdrawal. Alexa rank: 276,192
Accounts: 10,828 Deposits: 1,703 BTC. (think this might be bs)
19th OctoberPayment received, instant withdrawal. Alexa rank: 268,150
Accounts: 11,521 Deposits: 2,006 BTC. (definitely bs)
20th OctoberPayment received, instant withdrawal. Alexa rank: 260,751
Accounts: 12,218 Deposits: 2,308 BTC. (definitely bs)
21st OctoberPayment received, instant withdrawal. Alexa rank: 257,871
Accounts: 12,912 Deposits: 2,618 BTC. (definitely bs)
22nd OctoberPayment received, instant withdrawal. Alexa rank: 239,441
Accounts: 13,658 Deposits: 2,926 BTC. (definitely bs)
23rd OctoberPayment received, instant withdrawal. Alexa rank: 230,220
Accounts: 13,877 Deposits: 2,925 BTC. (definitely bs)
Reduce one deposit. Change risk rating to medium
24th OctoberPayment received, instant withdrawal. Alexa rank: 221,864
Accounts: 14,597 Deposits: 3,243 BTC. (definitely bs)
25th OctoberPayment received, instant withdrawal. Alexa rank: 211,014
Accounts: 15,330 Deposits: 3,553 BTC. (definitely bs)
26th OctoberPayment received, instant withdrawal. Alexa rank: 205,694
Accounts: 16,096 Deposits: 3,863 BTC. (definitely bs)
27th OctoberPayment received, instant withdrawal. Alexa rank: 198,106
Accounts: 17,013 Deposits: 4,180 BTC. (definitely bs)
28th OctoberPayment received, instant withdrawal. Alexa rank: 192,953
Accounts: 17,932 Deposits: 4,496 BTC. (definitely bs)
29th OctoberPayment received, instant withdrawal. Alexa rank: 192,953
Accounts: 18,755 Deposits: 4,825 BTC. (definitely bs)
30th OctoberPayment received, instant withdrawal. Alexa rank: 184,690
Accounts: 19,593 Deposits: 5,147 BTC. (definitely bs)
31st OctoberPayment received, instant withdrawal. Alexa rank: 179,945
Accounts: 20,468 Deposits: 5,463 BTC. (definitely bs)
1st NovemberPayment received, instant withdrawal. Alexa rank: 171,554
Accounts: 21,428 Deposits: 5,796 BTC. (definitely bs)
2nd NovemberPayment received, instant withdrawal. Alexa rank: 168,567
Accounts: 22,363 Deposits: 6,123 BTC. (definitely bs)
3rd NovemberPayment received, instant withdrawal. Alexa rank: 164,164
Accounts: 23,334 Deposits: 6,446 BTC. (definitely bs)
4th NovemberPayment received, instant withdrawal. Alexa rank: 160,826
Accounts: 23,779 Deposits: 6,786 BTC. (definitely bs)
5th NovemberPayment received, instant withdrawal. Alexa rank: 157,172
Accounts: 24,195 Deposits: 7,112 BTC. (definitely bs)
6th NovemberPayment received, instant withdrawal. Alexa rank: 154,238
Accounts: 25,594 Deposits: 7,433 BTC. (definitely bs)
7th NovemberPayment received, instant withdrawal. Alexa rank: 150,069
Accounts: 26,998 Deposits: 8,036 BTC. (definitely bs)
8th NovemberPayment received, instant withdrawal. Alexa rank: 145,517
Accounts: 28,474 Deposits: 9,075 BTC. (definitely bs)
9th NovemberSite problems
10th NovemberPayment pending, problems. Alexa rank: 136,014
11th NovemberScam. Possibly paying selectively. Alexa rank: 136,014
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4 thoughts on “Coinn

    1. deanossoc Post author

      Alexa rank is the ranking of the website which gives an idea of how many people are using it. The other info is from the coinn website – number of accounts and how much bitcoin is deposited to the program

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