Cloud Mining News & Reviews

LTCGear Update : 4 Types of 'Attacks' Explained, Balances and Withdrawal Payouts to Resume in the Future, 'Maintenance Tax' to be Imposed to All Accounts!

LTCGear Update

LTCGear Posts Explanations for Payout Delays & Temporary Service Suspension just posted an explanation on payout delays and temporary service suspension that has been taking place since late December.

The explanation explains about 4 different kinds of 'attacks' that the service experienced.

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It's rather long, but you can read it HERE.

LTCGear Update

Balance and Withdrawal on Demand Payouts to Gradually Become Available for All Users

The more important question for most users waiting for payouts like ourselves is "will payouts be resumed?".

The explanation in the latter part of the announcement covers this and states that the new "user balance and withdrawal on demand" feature which was added as a means of protection of the DDOS attacks, is currently "functional for a percent of users and will become functional gradually for entire database of legit users".  This feature is not working for us at the moment.

LTCGear Update

We don't know when this is going to happen (no dates provided), but the intention to make the new feature live appears to be there.

'Maintenance Tax' Would Have to Be Paid

However, there also appears to be a "maintenance tax" that would have to be paid.  The "maintenance tax" is described as something that would have to be paid "at the end of the year" (we originally understood the yearly maintenance fee as something that would be paid "at the end of 1 year of cloud mining" but that seems to have changed...), but since the database has been corrupted, it would now have to be imposed to all.


There are no dates yet in this update, and we're still not sure whether the service will resume fully, but it's good to hear some updates from

LTCGear is somewhat of an enigma to us at the moment - we're not sure what to make of it, but it would be nice to see the service resume again.

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