Bitcoin Forum

I saw that today btc-arbs.com is down "Internal Server Error"...
was this a scam?!?

BTC-ARBS took 65BTC's from me then disabled my account and I cant login to retrieve my money. When I tried their support they dont answer. I had to go on their Facebook page (https://www.facebook.com/pages/Btc-Arbs/1455469264688042) the only reason they answered is because I commented on the wall and they said it will take a long while to sort out my login issue because they get 700 requests a day. The basically took off with my money because Password reset is automated. They even deleted any trace of my email that way I cant reset the password. Good think I took an image of the site every day and the transaction records and all correspondence with it's proprietor Adam including his emails asking me to send US$ to an account in Hong Kong with all the bank account details.

The guy that runs the one man show is called Adam. They claim to be based in Geneva which is bogus, Adam claims he lives in Canada but now is in China. Their Bank account is in Hong Kong and the website is registered in panama. Sounds like Alcapone. I have details of the details of their account in Hong Kong which I will turn over to the authorities here in America if they dont return my money in a couple of days on the hope I save someone else from being suckered.

DUDE!! 65 BTC are you fcking serious!!?

Same here. They changed the password/email so I can't login anymore.

See:
https://bitcointalk.org/index.php?topic=474787.msg6358999#msg6358999

I lost 10 BTC  :-[

From   administrator
Sent on   April 22nd 2014
Today we have some exciting news that will have a great impact on the overall future of BTC-Arbs as well as all of our arbitrage investors. Over the past few months, BTC-Arbs has grown to become the most prominent and successful Bitcoin arbitrage investment in the Bitcoin community. During this time, we have seen a great deal of interest from venture capitalists, as well as other investors. While the previous buy-out offers that we've received haven't reached the value that we feel that company is worth, we have just negotiated a deal that we believe is fair for all parties.

Effective immediately, BTC-Arbs will be owned and operated by the Global Capital Alliance. The Global Capital Alliance is a venture capital firm that has dove in head first to the Bitcoin industry, and has made a number of strategic investments to position itself for what they believe is the upcoming mass adoption of Bitcoin. With a portfolio of other services such as Bitcoin wallets and cold storage solutions, as well as Bitcoin related retailers, the Global Capital Alliance is the perfect group to take over management of BTC-Arbs and drive it "to the moon".

As a member of BTC-Arbs, you're likely wondering how this will impact the day to day operations of the website, as well as the ability for the site to provide long term earnings. Rather than speak about this myself, I will allow Ron James, the CEO of The Global Capital Alliance to share his thoughts and vision for the future of BTC-Arbs. Please find Ron's introductory note below.

Dear BTC Arbs Members,

It is a pleasure to be part of the team that has recently acquired BTC-Arbs. With offices around the globe, and institutional investors banging at the door, we feel that the time is now for Bitcoin to make a huge splash in the global investment and financial industries. We plan on taking BTC-Arbs from its current form of an unregulated Bitcoin "fund" and transforming it into an institutional investment powerhouse that will serve worldwide investors for years to come. As part of this process, we will be restructuring numerous aspects of the program, evaluating the fund's current assets, and creating a strategy for long term growth. I have outlined the basic steps that we will be immediately taking.

1. All current balances will be reviewed to ensure that everything is correct. It is believed that some user balances are incorrect due to the Heartbleed Bug that impacted the website at the beginning of April.

2. Current Bitcoin Balances will be relocated within your account and placed in a balance known as the "Legacy Fund."

3. The daily arbitrage earnings will apply only to the new Bitcoin balance and will not be calculated on the Legacy Fund.

4. Funds in the Legacy Fund will be moved to the current Bitcoin balance as we successfully transfer the funds from the previous owners exchange accounts into our new corporate accounts. Furthermore, prior to being transferred, Legacy Funds will be reviewed for accuracy.

5. The regular fund will continue to earn as usual. New deposits will be accepted and withdrawals will be processed in the normal time frame.

6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.

7. New Bitcoins deposits will go into the regular Bitcoin balance and will continue earning each day.

The above steps may seem somewhat

If you have any questions about the acquisition of BTC-Arbs, please submit a message in the "Support Zone".

Sincerely,
Ron James
Global Capital Alliance"


As part of the acquisition, I (Adam) will not be continuing on. I am confident that everyone is in good hands with Ron and everyone from GCA.

Adam
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wtf is that LEGACY FUND BALANCES? ..cant withdraw that btc