btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds

[sev09]

People feel safer with big brother watching over them.

Then they're fools with blinders on.

 

[Cronos7]

Im only here to say that I got my money back since the sold of the web, they ask my BTC address and send my money back (when the page still working, 5 or 6 days ago) and I put it inside again. I think this should be some credit to this guys. Is true: the web still down and we haver zero notice, that is some irresponsible from them. I hope come back, I still think they do. Remember the last time it goes down, everyone in panic, etc etc; and now something similar is happening. This HYP site is the only one I saw goes down and up again.

Dude, it's done.  Stop trying to put a halo on the scammers.

I already hear that before, with different results. Is my way to see it, if you are not agree so is you point of view; that´s all.

[crayboy29]

Guys, i just don't think Ron is doing a very good job hey.

[FreeJack2k2]

Ron James is doing his best.

[micers]

Welp, I'll be surprised if he comes back up.

It is my sincerest hope that someone kicks that nutsack hard enough to lift him two feet off the floor.  If they do, they are welcome to whatever profit they may make from it.

It is my speculation that the uptick in the value of BTC was more than Adam could ignore.  He decided to sell.

[alani123]

Ron James is doing his best.

This name is a pseudonym. The Ron depicted by them is a non existant person. There is no hope to recover from a HYIP. The end. You can earnm hyips but it's still to risky, people should have never taken this seriously from the start.

[lesnod11]

lesnod i am naive in my thinking and either you or your lawyers don't have balls. Money cases are the easiest and quickest and there is a very specific reason for that: the powers that be want to make it clear that when it comes to money owed there is no playing up.

In my case on two occasions I managed to get my clients their money back before initiating proceedings, and the way I did it is by showing them what we will do to them if they do not pay up and we go ahead. It is not a threat, it is a clear presentation to them of 1+1=2.

I'm happy for it to take 10 years, as long as I know who I am up against, unlike the BTC crap going on now. You are accusing the prey of being guilty for falling to the scum bag, man you take such terrible positions it's not funny. The prey is not guilty for falling into the traps, putting traps is illegal. What I'm guilty of is using a faulty system like BTC, it is like a very beautiful woman walking scantily clothed on a ship with 40 sailors none of them gay who have been at large for weeks and hoping not to get mugged, to put it politely on a public forum. If you didn't get that one, try: using BTC is like using Windows 95 and hoping not to catch a virus. Enjoy your BTCs and the one who takes them from you in exchange for anything, good on them finding the next idiot.

Clearly you have very little experience in court dealings. We have repo'd cars that are without engines and tires and all and we sell what we can, but going after these people is nearly impossible. When their defense is something like the engine was stolen and insurance needs to pay it gets another party involved that ads time, difficulty and expense. Even if it goes smooth a lot of times you can't bleed a turnip an example in one particular case we won the defendant ended up showing criminal intent - he went to jail but did we see a dime?.... nope!

[brianbbad]

How long would you guys suggest waiting before I report my BTC as stolen? The site has been down all week. I don't expect to get my BTC back if btc-arbs has officially skipped town, but I suspect I would need to file a police report or something regardless in order to include the loss on my tax return. (I'm in United States)

I just find this whole debacle to be so dumb, because you *could* make money with automated arbitrage trading if you're an above-average software developer willing to put in the time and energy (and able to obtain ample cash/btc of course). The site's creator(s) was/were good enough to make a nice looking site with a database of users, deposit/withdrawal functionality, etc.  ...they couldn't spend the extra time/energy to make a *real* arbitrage trading site instead of a *ponzi*?

[NLNico]

Well in one of the first few pages of this topic you can see that the site (design-style, all the code and copy-writing-style) was an exact copy of a previous ponzi called PokerByProxy. So the ponzi owner just keep using that software for many ponzi's, doesn't take too much trouble I guess.

All the trouble was reading a bit about arbitrage and making a fake report of it every day. For let's say 300+ BTC in 3 months, that's not much time/energy.

[lnternet]

For let's say 300+ BTC in 3 months, that's not much time/energy.

Nice work I must admit. Are there any estimates that are based on something or did you just randomly guess the 300?

[NLNico]

Scamming people is not nice work but I will assume you don't mean it like that.

Few pages ago, there was a 270 BTC transaction that was connected with 1 of the tiny withdrawals. I did not verify it though. And just quickly assumed that this 270 BTC is at least the minimum they got.

[benjamin07]

lesnod i am naive in my thinking and either you or your lawyers don't have balls. Money cases are the easiest and quickest and there is a very specific reason for that: the powers that be want to make it clear that when it comes to money owed there is no playing up.

In my case on two occasions I managed to get my clients their money back before initiating proceedings, and the way I did it is by showing them what we will do to them if they do not pay up and we go ahead. It is not a threat, it is a clear presentation to them of 1+1=2.

I'm happy for it to take 10 years, as long as I know who I am up against, unlike the BTC crap going on now. You are accusing the prey of being guilty for falling to the scum bag, man you take such terrible positions it's not funny. The prey is not guilty for falling into the traps, putting traps is illegal. What I'm guilty of is using a faulty system like BTC, it is like a very beautiful woman walking scantily clothed on a ship with 40 sailors none of them gay who have been at large for weeks and hoping not to get mugged, to put it politely on a public forum. If you didn't get that one, try: using BTC is like using Windows 95 and hoping not to catch a virus. Enjoy your BTCs and the one who takes them from you in exchange for anything, good on them finding the next idiot.

Clearly you have very little experience in court dealings. We have repo'd cars that are without engines and tires and all and we sell what we can, but going after these people is nearly impossible. When their defense is something like the engine was stolen and insurance needs to pay it gets another party involved that ads time, difficulty and expense. Even if it goes smooth a lot of times you can't bleed a turnip an example in one particular case we won the defendant ended up showing criminal intent - he went to jail but did we see a dime?.... nope!

mate your case is totally different! yes if the bloke is on the joint then yes no use running after them and it is even difficult to land him time, he'd just be owing you and guess what he can pay when he wants or until you claim again... TOTALLY different story!

Here no one is broke and your money is in their pockets, well lego or monopoly money or not even, numbers referencing the block chain... BTC is so dirty better start a new coin. All the coins in all the wallets are either premined or scammed out of people. The 99% have mined their coins on electric heaters, sorry i mean fast protocol specific processors and many own only a few BTCs.

And no I don't blame myself for anything, such as falling for a HYIP. I am not giving the son of a bitch an epsilon excuse. Anyone meets him in real life meat the shit out of him.

[FreeJack2k2]

Ron James is doing his best.

This name is a pseudonym. The Ron depicted by them is a non existant person. There is no hope to recover from a HYIP. The end. You can earnm hyips but it's still to risky, people should have never taken this seriously from the start.

I know I was quoting one of their "support" responses to me.

[FreeJack2k2]

Scamming people is not nice work but I will assume you don't mean it like that.

Few pages ago, there was a 270 BTC transaction that was connected with 1 of the tiny withdrawals. I did not verify it though. And just quickly assumed that this 270 BTC is at least the minimum they got.

If you followed the bulk of that address's money to where it ended up, it was sent to an address that had trafficked in hundreds of thousands of Bitcoin. They made off with millions on this thing, I think.

[yonce]

Scamming people is not nice work but I will assume you don't mean it like that.

Few pages ago, there was a 270 BTC transaction that was connected with 1 of the tiny withdrawals. I did not verify it though. And just quickly assumed that this 270 BTC is at least the minimum they got.

If you followed the bulk of that address's money to where it ended up, it was sent to an address that had trafficked in hundreds of thousands of Bitcoin. They made off with millions on this thing, I think.

They for sure made off with a TON especially since the majority of people participating had no idea they were participating in a HYIP. No HYIP player would ever throw 50k at a program without a track record. There's people just in this thread who made 30-50 BTC deposits. They made off with well over a 1000 btc for sure.

[actudoran]

is there a way to hold accountable the host for the website for the actions of their users ?

[sunny1]

is there a way to hold accountable the host for the website for the actions of their users ?

No, unfortunately not.

[hongo]

Is there any way to trace the responsible for this site? They were receiving payments in USD through bank account and the domain name is .com. Do someone has the bank information?

[benjamin07]

is there a way to hold accountable the host for the website for the actions of their users ?

No, unfortunately not.

Yes there is. Actually "there is a way" is not a correct statement as it infers that by default they are not responsible but they are.

Don't take my word it, here is an example: There is a web service called freehostingnoads, sounds like a great service, doesn't it, so many people would make websites on that platform, sure. What happens is that some respectable web nanny services block any website hosted on this platform and they spit out the reason: "this host has been known to be the source of fraudulent services". So one guy sets up a website on their platform, scams people, now what happens: the whole platform is banned most likely for life without parole.

I give you another example: do you really imaging yourself going to a shopping center and setting up shop to scam people and then close and get away with it? what does it do to the reputation of the shopping centre? Do you really think you will not be on the noose of a lynch mob sent by the shopping centre management within 1 week?

If any of these farts used fiat then there is a noose with their real names on it. Btc-e or whatever crap "exchange" cannot say we did not know about money laundering, and in fact we all know when we opened accounts with them that was a clear clause. Btc-e management will all be in jail for a long time if they don't lay the information in golden plates on a red carpet. That is why probably actual arbitrage never happened, the digits are still in BTC in their wallet and will be moved around and then converted to fiat. That is why they returned $

What people should ask for in Arbitrage, now that we paid for the lesson, is proof of work (buys/sells) from the days before with links to the blockchain. The scammers of btc-arbs can dream about their next one in jail.

If you want to catch them you most certainly can. BTC has been classified as property and he stole our property. He did not file for bankruptcy. He is a thief and thieves belong in jail.

[micers]

There is most certainly a way to identify the owner of the account with the hosting service.  That would require the appropriate LEA in the hosting country to go to the hosting service and get the owner information from the service.  If that hosting service also hosts in the USA, then the FBI would have the authority to subpoena the records from the service.

Where there is a money trail, there is a paper trail.  There is no way this thief can hide *IF AND ONLY IF* a law enforcement agency decides they want to track that person down.  My suggestion is for everyone who has lost BTC to contact their law enforcement representatives and explain the situation to them.  Once any agency gets enough complaints, they will probably start moving.

That does not mean anyone should get their hopes up, but it does mean that the person's responsible will have something to think about while various LEAs start trying to track them down.

Just my two, but the web is IN NO WAY anonymous.  Anyone who says it is, needs to stick with bitcoin investing and stop talking out their arse.  Once you pay someone to host a site, you have left a money trail.

There is already a lot of information in this thread regarding the ownership of the site (74 through 76 I believe).

Anyway