I have been carefully considering all of the suggestions posted in this thread and will be implementing a variation on what has been suggested. Details will be posted this week. For now, more refunds have been sent.
It is also clear that some users do not understand the refund process. The refund amount is not the total amount including earnings. It is the total amount originally deposited minus any withdrawals.
This is great news. Glad to see Mr BTC-Arbs taking steps to restore order in this mess. I for one, would just like to see my claim acknowledged, and that we agree on the amount to be refunded. It's nerve wracking not knowing it he received my email or PM, understood my ramblings and agrees with the amounts due.
How he decides to actually implement the payout process is secondary. I still have faith in human nature that it will be fair on some level. I only risked what I could lose, so it's not keeping me from putting food on the table or paying the rent.
On a side note. I know for a fact that his site was hit by the heart bleed bug. I had seven accounts on there (lots of kids). Everyday I would log-on to each account after the interest for the day was posted. Within an hour of my log-in someone made small withdrawal's from 3 of the accounts. I noticed it the next day and implemented 2FA security. (closing the door after the horse is out of the barn?) Of the 3 accounts they all had pretty noticeable account names. and the passwords were weak. The others had more obscure names and passwords. What I found strange was the accounts were not wiped out, just .02 -.04 withdrawals made.
Again glad to see progress being made.