PANews reported on May 1 that according to Cryptonews, the British crypto mining platform BTCMining was ordered to close by the court for suspected transnational fraud. The company provides so-called "cloud mining" services to customers in many countries around the world, but fails to deliver the promised returns after charging fees and prevents users from withdrawing funds. According to the investigation of the UK Insolvency Service, the company, which was established in January 2024, has committed multiple violations: the registered address was forged, the only director was out of contact, and the website has been closed. Victims from Estonia, Mauritania and other countries have reported the case, confirming that the loss exceeded US$18,000, but the actual amount of fraud may be higher. The Manchester High Court made a ruling to close the company after a hearing on April 28.