This is an archive of a consumer complaint published against Hedger Mining at DirtyScam.com-
Business Details –
- Name: Hedger Mining
- Website: http://hedgermining.com
- Reported Loss: 0 $
- Severity of Scam: Extremely High
Original Complaint against Hedger Mining published at DirtyScam.com says, verbatim –
Hedger Tech operates in the cryptocurrency MLM niche. Other than an email address, the company provides no contact information.Hedger Tech dont provide management details on their website, but their whitepaper cites Leo Bathan as Chairman and CEO.Bathan doesnt have a digital footprint outside of the Hedger Tech whitepaper, which Im flagging as highly suspicious.Either Bathan doesnt exist or is being represented by someone with a different name (typically a stolen image or an actor is used).The Hedger Tech website domain (hedger.tech) was privately registered on May 18th, 2018.Hedger Tech also run Hedger Mining, through which affiliate investment is solicited through.The Hedger Mining website domain (hedgermining.com) was privately registered on September 14th, 2018.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.Hedger Tech has no retailable products or services, with affiliates only able to market Hedger Tech affiliate membership itself.Hedger Tech markets their Hedger shitcoin as an insurance coin.The basic idea is you convert bitcoin into Hedger Coin (HDR) and are thus insured from bitcoin volatility.As per the example, you exchange 0.073120 BTC into HDR on June 1st.BTC declines throughout the month, but Hedger Tech still pays you the June 1st exchange rate when you exchange back into BTC on June 24th.This works on the assumption Hedger Tech locks away deposited BTC and simply returns it when the time comes.Thats not the case though. And even if it was, the investor still takes a loss because their BTC isnt worth what it was on June 1st.In summary: Hedger Techs insurance claims are a load of baloney.On top of that Hedger Tech are committing securities fraud via their Hedger Mining investment scheme.Hedger Tech affiliates invest funds on the promise of very specific ROI amounts.The company claims to generate external ROI revenue via an established business model used by industry experts in insurance and hedge funds.Naturally Hedger Tech fails to provide evidence of any such business models existing.What youre left with is new investment being the only verifiable source of revenue entering Hedger Tech.The use of newly invested funds to pay existing affiliates a ROI makes Hedger Tech a Ponzi scheme.Not withstanding securities fraud by way of Hedger Mining passive returns.On their website Hedger Tech provides no indication they have registered their Hedger Mining securities offering with regulators in any jurisdiction they operate in.Cagayan Economic Zone Authority (CEZA) is touted as a regulatory partner on the Hedger Tech website.From what I can tell CEZA is just a free trade economic zone being set up within the Philippines.While CEZA has ties to the Philippine government, it is not a securities regulator. Nor does CEZA have any jurisdiction outside of the designated zone itself.The only insurance Hedger Tech offers is to themselves, by way of internal manipulation of their HDR shitcoin.Naturally Hedger Coin is pitched to affiliates as having an ever-increasing value.In reality Hedger Coin, which costs Hedger Tech little to nothing to generate, is used to manipulate what it owes to investors on paper.And when it all goes to crap (invested funds are exhausted), Hedger Techs anonymous owners exit-scam by eitherdropping the internal value of Hedger Coin to zero and doing a runner; or getting HDR listed on some dodgy public exchange and doing a runner. Either way invested funds are lost. All Hedger Techs bagholder affiliates will have to show for their investments are worthless HDR.Seeing as Hedger Tech cant be straight about its management or even from where the company is operated from, it appears to have been built from fraud in mind from the ground up.This ensures maximum losses for the Hedger Techs investors. It also leaves them with little to no recourse for recovery on collapse.