APO Group, formerly known as African Press Organization, is a press release distribution company that is headquartered in Lausanne, Switzerland – according to its website. Today, it is distributing a press release on its own behalf that is quite publicly accusing Watts Miners, a crypto mining firm, of non-payment for services rendered. According to the release;
APO Group hereby notifies the public of the multiple reports of potentially fraudulent activities of the cryptocurrency manufacturing company known as Watts Miners Inc. (WMI), which has come to its knowledge. This report also comes on the heels of WMI’s willful default of the payment terms under an Agreement between WMI and APO Group whereby APO Group distributed several press releases on behalf of WMI and in respect of which a payment of USD 14,995 became due on 14 August 2018.
Despite several communication sent to Watts Miners CEO David Anderson, and Chief Financial Officer Nancy Lopez, requesting payment of services rendered, this payment has not been received.
Watts Miners introduced itself has “a manufacturer of high-quality cryptocurrency miners that deliver extremely high hash power without consuming a lot of energy”.
It is not clear if the public shaming will improve the chance for APO Group to recoup the alleged unpaid funds.
APO group says this will not impact its business but it does lead one to wonder if this is a sign of decline in the crypto mining sector.