ChainCatcher News: The Texas State Securities Board has issued a cease and desist order against Arkbit Capital for engaging in fraudulent cryptocurrency cloud mining activities. Arkbit falsely claimed to operate a data center in Arkansas for mining various cryptocurrencies. Securities Commissioner Travis J. Iles stated that Arkbit Capital and its affiliated entities engaged in fraudulent activities, including the use of deceptive images and video manipulation techniques to promote their investment schemes.

ChainCatcher news, Binance announced that a new batch of Bitcoin cloud mining products is now online. Users can now purchase computing power by subscribing to cloud computing products and start accumulating mining rewards in their funding accounts. The product is now open for subscription, while supplies last, and mining is expected to start on December 4 at 12:00. (Source link)

According to ChainCatcher news, Binance Pool has launched a cloud mining service, which helps users earn mining rewards from Binance Pool without the need for mining equipment. Starting from November 22, 2022, at 12:00, users can purchase computing power through the cloud mining product to start mining BTC.According to the announcement, under normal circumstances, mining earnings will incur a 2.5% pool fee and a 1.5% cloud mining management fee. However, during the promotional period (from November 22, 12:00 to December 22, 12:00), users who purchase the cloud mining product will enjoy 1 month with no management fee. (Source link)

ChainCatcher news, according to Cointelegraph, two founders of the now-defunct cloud mining company Hashflare have been arrested in Estonia, accused of involvement in cryptocurrency fraud and money laundering, with an amount involved reaching $575 million. It is reported that HashFlare was established in 2015, claiming to allow customers to lease the company's hash power to mine cryptocurrencies and receive a proportional share of the profits. In July 2018, Hashflare announced that it was forced to terminate all Bitcoin mining contracts due to unprofitability.According to a statement from the U.S. Department of Justice citing court documents, the mining operations run by Hashflare founders Sergei Potapenko and Ivan Turõgin "defrauded hundreds of thousands of victims," including persuading victims to sign "fraudulent equipment leasing contracts" through HashFlare, as well as convincing other victims to invest in a fake virtual currency bank called Polybius bank. (Cointelegraph)

ChainCatcher news, a Binance spokesperson informed CoinDesk via email on Monday that the cloud mining service will officially launch in November. Unlike Bitdeer and BitFuFu, which sell a combination of self-operated and third-party hash power, Binance Pool will purchase hash power from third parties and may not operate its own infrastructure.Binance Pool announced its $500 million Bitcoin miner loan fund last week and stated that it will enter the cloud mining space, a service that allows investors to rent cryptocurrency mining machines. (CoinDesk)