Authorities were unable to establish contact with BTC Mining’s sole director, Stibich Martins Yhaicha Luzia, as efforts to reach him and the company’s websites proved unsuccessful.
BTCMining, a UK-based crypto asset company, was shut down following numerous reports from customers in various countries who claimed they paid for crypto mining services but never received the promised returns or were unable to withdraw their assets, according to a statement released on Wednesday.
The company, which purportedly offered mining services allowing customers to generate income, was accused of fraudulent activity affecting individuals in Estonia, Mauritania, Iran, New Zealand, Poland, and Romania.
The complaints were initially reported to Action Fraud, the UK’s national fraud and cybercrime center. Victims alleged they had not received the services they had paid for and, in many cases, were pressured into making additional payments.
During the investigation, authorities discovered that BTCMining Limited lacked a valid registered address in the UK—an alarming sign for any business operation.
UK Court Decision Shuts Down BTCMining After Global Fraud Allegations
.On April 28, 2025, a hearing at the High Court in Manchester resulted in the closure of BTCMining Limited. David Usher, chief investigator for the Insolvency Service, emphasized the widespread impact of the fraud.
“BTCMining Limited’s ability to attract customers globally made our intervention crucial,” Usher stated. “By acting on the complaints promptly, we were able to prevent further harm to individuals worldwide. Ensuring public protection, both in the UK and internationally, remains a top priority.”
Efforts to Contact BTCMining’s Director Fail, Raising Concerns Over Wider Impact
Authorities were unable to reach BTCMining’s sole director, Stibich Martins Yhaicha Luzia, who had been in charge since the company’s incorporation in January 2024. Attempts to contact him via known email addresses and phone numbers were unsuccessful, and the company’s websites became inactive without providing updated contact details.
The director’s registered address, listed with Companies House, turned out to be a residential property, whose occupants were unaware of the business and had not authorized the use of their address.
While six formal complaints have been filed with Action Fraud, officials suspect the actual number of victims is significantly higher. Reports indicate that affected customers collectively lost over $18,000, though this amount may only represent a portion of the total financial damage.
Investigators remain concerned that additional victims have yet to come forward, potentially revealing a broader impact.