What is Workmines?
Workmines is one of the “Make Money Online” or “Work from home” websites. It promises to pay its users to watch videos (mostly Netflix trailers). They offer different plans ranging from Trial to platinum. Trial Plan is valid for 14 days and users cannot withdraw their earnings unless they upgrade to a higher plan and bypass the minimum withdrawal limit.
The Exit Scam
An exit scam is a type of trick where a business establishment trick users into investing money only to disappear suddenly with the money. In order to be successful in this type of scam and avoid all possible prosecutions, exit scammers often build their businesses without offering their contact information or address. This is exactly what Workmines did. On June 6, 2019, Workmines’ site returned a server error.
Unofficial Maintenance Statements
Several unofficial statements continued to be shared on social media that the site was upgrading to a new server in order to handle the traffic. However, non of the promises came to pass and of this writing, the site is still down. A twitter post by “NOT OFFICIAL ACCOUNT” with twitter handle @Work_Mines shows the same promised published by two different companies as shown in the pictures below.
Signs of the End
Workmines showed several signs of first of all being a scam and secondly heading towards its exit strategy. The first sign that it was a scam is the fact that it promised to pay a lot for a few seconds (approximately 35 seconds) of watching video content. Who would pay $0.4 per view? Well let us assume Netflix would. However, curious users emailed the Netflix support and they denied any involvement with the company (Refer to image below by blahblah with twitter handle @blahbla06199290).
How they Planned to Earn a lot from the Exit
Change in Withdrawal Schedule
Towards the end of Workmines, several changes occurred. For instance, they changed from paying users twice a week to paying only once. This allowed them to reduce the money spent on their deception. Additionally, they exited before making the Thursday Payment following the change.
100 Videos Per User Anniversary Give Away
The site promised users that on their second anniversary, July 15, each user irrespective of plan will have additional 100 videos. This tricked many users to upgrade their plans as they looked forward to earning $40 a day for the additional videos.
What Can Be Done
Since the company is registered in Latvia and no one has the official address, most users just have to come to terms with the loss. However, users can try to make a joint petition and collect signatures then sue the country representatives who will then reveal how they contact the site owners or admins.
There are many signs that will help you know exit scammers. The only way to be protected is to invest what you are willing to loose. Most people earn from the site at its preliminary ages while they are still building up trust. Unfortunately, no one really knows when they are going to exit so just be careful.
Be aware of Walletsync. As you saw in the Maintenance message above, Walletsync and Workmines seem to be related. You can earn from them while they are building up trust. But once they exit, you loose everything in the site. Most of these exit scam companies are very good at the beginning since they actually pay out in order to attract investors. But always remember, “The bee that gives you honey can also sting you.”
Do you wish to know about other forms of fraud and scam and how they are executed, find them in this list of blogs assembled by security cavern.