I haven't forgot about you or anyone else.

Dear BTC-ARBS initator,

I read your message in the bitcointalk-forum/btc-arbs.com thread of May the 29. 2014 .

I really regret the outcome of your efforts and your website.


As requested you hereby receive my depositing-information and user-details :


my username on the bitcointalk-forum is : elend

my username on your btc-arbs site was/is : elend


deposits I made to your btc-arbs site:

on 2014-02-23 : 0.2 BTC
TransactionID: 428a8f9ed746d7c55ab961ffb1f07075bff6f015d6d14a9e2941330e42a3f353 @ 2014-02-23 14:06:09

on 2014-02-23 : 0.5 BTC
TransactionID: 05d06a8eb5a520218cc6546f8d16967e31b0798b417d2a78294e1503ecabb162 @ 2014-02-23 20:18:48

on 2014-03-01 : 0.42 BTC
TransactionID: 77629f475744f78ae130624bac5a929824c40d837a9e0d22aa6559fbb337088b @ 2014-03-01 09:35:17

on 2014-03-17 : 0.75 BTC
TransactionID: fda510d1d5194fb12d62127a41675d8334d8989f0b1327c93bcccd1fe9d14ab4 @ 2014-03-17 17:03:50

on 2014-04-04 : 0.3 BTC
TransactionID: 1b6e41809c6091ffd90339dc83a068c32db65fbb6aec0708fa28254bef4e4322 @ 2014-04-04 11:15:16

on 2014-04-15 : 0.2 BTC
TransactionID: 9403e76d1dc2bf2dcd09450c063636d6ac0d09ccca46a91b4233a95d4ff50102 @ 2014-04-15 07:48:16


Deposit sum: 2.37 BTC


Final balance on the site incl. profit before it went down approx.: 3.7 BTC


Until now I did not received back any single Satoshi or Bitcoin.


My actual Bitcoin-address for any refund is: 1NyquC3LsFqEKwScuCEV6jDhkrBjk4habp


Thank you in advance

elend

He has said he is going mostly in order of requests received, along with some random (small amounts he can pay in full). I was the first of the large investors to request a refund, so he is tackling mine first. When I'M paid, I am sure he will then go to the next large investor on his list of requests. I was also one of his earliest large investors, having opened my account in late February.

I know everyone is anxious about this but look at how much needs to be repaid, and how much he is paying out. It makes no sense to make micro-payments to everyone, so that you feel like you are being repaid. The best method is to pay debts in full as you can.

As for Yonce attempting to collect information, the reason more info is not public is because we have idiots out there who will call family, make threats and take measures that may result in nobody being paid. Fraud charges come with jail time, not a repayment strategy. It should be a last resort, only if he stops paying people back. I also question Yonce's motives a little bit, as he doesn't have any money at stake here.

More than ever a reason that we need to have an organized plan B. I have organized a good bit of info, but I am sure there is other useful information out there that people have.

We have been able to organize a good bit of information now on the btc-arbs admin. I am looking for any more on the admin that you may have. If you do, PM me as it may be new information that I do not have. There needs to be a plan B while we wait for the admin to come through on his word.

If anyone has any information on the admin please feel free to PM me. Also don't post that you do in the thread, I can help you with a strategy on getting funds back away from the public eyes in the thread.

Must be nice, I wish I could get all mine back. I'm happy for you!

The middle investors will receive installments like the larger investors.

lesnod, your first payment will be sent this week.

The next batch of payments will be sent tomorrow.

i lost my 3 btc in this program please stay away from this btc-arbs.i have got no refund

As a reminder, I am not replying to messages until they are paid. If you sent a message then it was received. No need to send additional messages to ask if the first one was received. Also, do not send attachments to the refund email. They will be deleted.

Currently pending

232 pending refund emails
96 pending refund PMs

Today

5 full email refunds paid
2 full PM refunds paid
1 partial refund paid

Methodology

Smaller depositors are likely to get paid fully at once.
Larger depositors will be paid in instalments like freejack.
The order is a combination of who requested first plus some random.
Users who send threats are moved to the end of the line.
Users who send threats of violence are deleted from the refund list permanently.
Users who send email viruses are deleted from the refund list permanently.
If you send a duplicate message the first one will be deleted.

Everyone will be refunded in due time. Unlike the hundreds of Bitcoin scams that have existed, this is not a scam. You have not been mtgoxed.

I think the one(s) who found him won't tell you how. since one of them tracked and contacted his family.



It seems to me that the people with the lease amounts (0.1- BTC) are being paid out first so he can pay off as many people with the least amount of BTC.
I think that the admin should AT LEAST payout every day the profit he made.

If he has 500BTC from us, with the profit of 1% a day, that's 5BTC, he could AT LEAST pay out that amount of 5BTC

@Hongo & yonce, could you please update your amounts?

As I told, I do not believe in god will.
People acts are that I see!

let's start a list of who was NOT got back their bitcoins

worldlybedouin
riterrani
FreeJack2k2
lesnod11
b!z
korniza                       1+ BTC
thor4
MrMateria
deathdefyer2002

NullOp                       1 BTC
tom14cat14                1.5+ BTC
....
(please fill the list all you did not got any penny from the guy and also the lose you have)

@BTC-ARBS : if your family was "reached" , everyone can do it, sharing our knowledge! the power of anonymity has both sides. You used the one side, now you get the other

Once again you prove yourself to be a foul mouthed jerk unable to stay out of something you have no business in.   Just let people recover as much as they can. 

The Whole Story - From BTC-Arbs ADMIN

I am aware that this post may fall upon deaf ears, given the mob mentality that seems to have developed as a fallout from BTC-Arbs, however I am here with the ultimate goal of resolving the issues that currently face everyone involved. Before I get into my future plans I feel it is necessary to share a bit of background information on BTC-Arbs.

Scam Allegations

BTC Arbs was not created to be a scam, and was never intended to rip off investors. Bitcoin arbitrage is possible and many Bitcoin users have realized this and have started arbitrage trading on their own. Bitcoin arbitrage trading took place and earnings were made. Anyone who has ever looked at bitcoinaverage dot com can confirm this. The prices vary greatly from exchange to exchange, and there are always variations on the price. Even today, you can buy Bitcoin on BTCE for $556 and then sell it immediately on Bitstamp for $572. That produces a 2.7% profit, which is closer to 2% after exchange fees and transfer costs.

BTC-Arbs was not created to scam users.

Hacking

In early April, the BTC Arbs website was hacked. Numerous members can corroborate this fact. Many accounts were accessed and large amounts of Bitcoin were withdrawn. When this first started occurring, we were under the impression that it was due to users who had failed to secure their accounts with 2-factor authentication and who had been infected with a virus. It then became apparent that the website was not secure and the issue was impacting hundreds of accounts. HUNDREDS of Bitcoins were paid out that should not have been. To make matters worse, our incoming Bitcoin addresses were changed and hackers stole all of the incoming coins. When we tried to fix the issue, we just kept getting hacked over and over. Finally the problem was solved, but it was too late.

After the hacking, the plan was to use profits to re-liquidate the program, however people continued to withdraw, which ultimately lead to the overall failure and "reset". This can be referred to as a run on the bank.

100,000 Bitcoin Address

Those who believe that the 100,000 Bitcoin address belongs to BTC-Arbs are crazy. The total value of ALL BTC-Arbs accounts is more or less 500 Bitcoins. We weren't some billion dollar scam. The average user had less than 1 Bitcoin in their account. There are only 7 users with balances over 20 Bitcoins. There were less than 1000 accounts with Bitcoins in them.

Re-Incarnation

Upon resetting the program, the plan was to pay back all users using future profits. The plan was going well and members of Bitcoin Talk can attest that withdrawals were being paid and that many users had begun receiving a good portion of their investments back. The plan was going well until angry users decided to:
- Hack the website further
- Initiate a prolonged DDOS attack against the server
- File a trademark complaint for the domain (WTF???)
- Freeze fiat accounts (preventing refunds)

Apology

I am VERY VERY VERY SORRY that the outcome of BTC-Arbs was what it was. I had dreams of running the first large and legitimate Bitcoin Arbitrage investment company that could have one day competed with banks and other global investment institutions. Instead, my dreams were destroyed and I now receive threats on a daily basis.

Moving Forward

I have created a plan to help us move forward. I would appreciate everyone's help in fulfilling it. If you have any suggestions on how to improve my plan please tell me.

The Plan
1 - I have some Bitcoins left and I am still doing arbitrage with them.
2 - I want nothing more than to repay everyone. This won't be instant, but I want to do my best.
3 - I will continue paying refunds to everyone who lost money. In the interest of fairness, I think it is reasonable that until everyone is repaid their initial investments, that everyone only request the amount that was lost, not including profits.
4 - Please send your username, amount lost, Bitcoin address, username here (optional), details of your deposits, and any other information you can think of to btcarbsrefunds@safe-mail.net or by PM here.
5 - I will be using this thread to keep track of everything that I do, including refunds.

BTC Arbs is NOT a scam. It was a failed investment that is now trying to make good on past promises.

Go to search programs and files

type %appdata%

Open Roaming folder

- Find Surge Folder and open

-Add new txt doc inside surge folder called Surge.txt

- Paste this in Surge.txt:

server=1
listen=1
rpcuser=user
rpcpassword=password
rpcport=35850
addnode=107.170.206.96
addnode=107.170.206.97

Save as : from Surge.txt to Surge.conf (You will have to go to drop down menu and select 'all files'

nodes bitte

Update.

Think my nosing around had effect.

Todays mssg:


From   administrator
Sent on   May 04th 2014
Your legacy balance has been transferred in full and is now available for withdrawal.
Reply


So all my funds are out of legacy. And i've withdrawn all my funds. Now to wait for the transfer to complete.

Fingers crossed. And hoping more people will get their BTC back.