It’s no secret that mining pools are often rumored to be engaged in malfeasance. Pools can lose coins or get hacked. Lots of bad things can happen to mining pools, but things don’t really go bad until they stop communicating with miners.
When that happens, you get a case like the following:
OVER THE PAST 5 DAYS THE AC.OKAYPOOL.COM HAS FAILED TO PAY ME FOR OVER 23,300 ASIACOINS
I HAVE REPEATEDLY CONTACTED THE OWNERS OF THIS POOL AND HAVE NOT GOTTEN A SINGLE REPLY
THIS MAY NOT BE MUCH TO MOST PEOPLE BUT $125 TO ME IS A LOT OF MONEY
IF YOU DO MINE IN ANY OF THEIR POOLS PLEASE CHECK YOUR TRANSACTION LISTS - YOU WILL FIND THAT YOU’RE ONLY BEING PAID SPORADICALLY
PLEASE POST YOUR LOSSES HERE. I HAVE AN ATTORNEY FRIEND IN THEIR HOST COUNTRY WHO SAID HE WOULD FILE SUIT AGAINST THEM IF OTHERS ARE ARE EXPERIENCING THE SAME PROBLEMS.
You can see how upset this miner is just because of the size of his font. You don’t use text that big unless you’re really mad! Other miners also entered the thread and have expressed similar complaints of not being able to cashout coupled with the inability to get in touch with the pool operator.
A brief review of the domain registration for Okaypool.com shows the owner is in Shenzen China. That could place a roadblock in the way of any potential legal action (if there were even laws concerning the loss of Asiacoin).
As has always been the case: it’s a best practice to enter your coin wallet address and set up Autopay when mining. Take your small, frequent payments instead of leaving large sums on the pool. That won’t stop every case of loss from happening, but it’s a start. For now, miners should be wary of using Okaypool.com until these numerous complains have been sorted out.
