Thank God I didn't invest in this cloud mining ponzi schemes till date.
I never trusted cloud mining just because of this.
It's a gamble true, but there are legitimate cloud mining ops out there. If Hashocean bailed it makes it harder on them via colleral loss of trust. Hashnest and Genesis are 2 that pass most tests even by experts, hashnest is part of Bitmain so there's definitely a few TH/s of actual hardware tucked away here and there in their datacenters..