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Author Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds  (Read 254174 times)
btclemming
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June 08, 2014, 07:23:28 AM
 #2281

PM and mail sent.

here is my content

I deposited 35 BTC and received back 4,3951 BTC BEFORE shutdown. Nothing received yet afterwards.
My account was at 49 BTC when shutting down.

My address : blablabla...

04/03/2014 17:15             Bitcoin deposit for 20.0000 bitcoins completed [Ref: bitcoin_GGM1ahuw]
04/03/2014 07:44             Account updated
04/03/2014 07:40             Bitcoin deposit for 15.0000 bitcoins completed [Ref: bitcoin_ElRnvMcf]
04/03/2014 07:35             Account created

Damn...finally, someone who had more invested than I did. Welcome to the club :/

Go open up this Google Docs spreadsheet we're maintaining and input your username, the amount of principal you're currently owed (looks like 30.6) and we can keep track of it that way.

https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10/edit#gid=1324696940

Hi FreeJack,

you're not the only one fool that send a lot to btc-arbs... Since the shutdown, I was just focused on my new baby child (3 weeks)... had begun to forget this disaster... then I came back and discovered happily that some investigation was done, the spreadsheet and that contact has been made by btc-arbs. Happy to see that some refunds are arriving.
To me, it seems to mean that the investigation was quite efficient and that the direction was right. Have we done enough for now ? shouldn't we investigate a bit deeper just to make sure nobody can cover the tracks ? It means also that our btc-arbs "friend" is not the pure hyip "take the money and run" type of guy. At least some BTC were really refunded.  Now, I see only 8.4 btc refunded on 349 owed... not much at this point.
The refund "plan" that was communicated today add some clarity. At this point, with so much lies, and so much BTC vaporised, I really think we deserve more. The plan should include some % related to time. X% refund in X days. How much of the remaining 340 BTC in the spreadsheet will be refunded at 30th of june ? how much at 31st of July, etc...

Have a nice day,

Btc-Arbs : Keep up with the refunds. Keep us updated.
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thcst8
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June 08, 2014, 01:04:52 PM
 #2282

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.

Thanks I just saw this post.  Please ignore my last PM.

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June 08, 2014, 05:04:13 PM
 #2283

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.

thank you for this information
chilly2k
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June 08, 2014, 06:29:35 PM
 #2284

PM sent, Email Sent, add to the google doc.  a total of 7 accounts, and 1.1685 bitcoins deposited and not withdrawn. 

FreeJack2k2
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June 08, 2014, 06:45:01 PM
 #2285


Hi FreeJack,

you're not the only one fool that send a lot to btc-arbs... Since the shutdown, I was just focused on my new baby child (3 weeks)... had begun to forget this disaster... then I came back and discovered happily that some investigation was done, the spreadsheet and that contact has been made by btc-arbs. Happy to see that some refunds are arriving.
To me, it seems to mean that the investigation was quite efficient and that the direction was right. Have we done enough for now ? shouldn't we investigate a bit deeper just to make sure nobody can cover the tracks ? It means also that our btc-arbs "friend" is not the pure hyip "take the money and run" type of guy. At least some BTC were really refunded.  Now, I see only 8.4 btc refunded on 349 owed... not much at this point.
The refund "plan" that was communicated today add some clarity. At this point, with so much lies, and so much BTC vaporised, I really think we deserve more. The plan should include some % related to time. X% refund in X days. How much of the remaining 340 BTC in the spreadsheet will be refunded at 30th of june ? how much at 31st of July, etc...

Have a nice day,

Btc-Arbs : Keep up with the refunds. Keep us updated.


Congrats on the new baby! Yes, in this day and age, it's foolish for anyone to think that people can't find a way to track them down. There is always some point in the chain where your true identity and information had to be given to someone.

Personally, I would really like to know how much Bitcoin he is working with...but unfortunately, after all of the blatant lies we have been fed, I am having a real hard time believing any of the stories. The 232 email refunds really sticks in my craw, I don't believe that number at all...I believe it's just a way for him to slow payments to people we can track, to obscure how much is ACTUALLY being repaid.

Time will tell, though.
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June 08, 2014, 08:05:53 PM
 #2286

mem goes crazy on HYIPS. And to be honest I don't like them either. But it's like he's on a constant all out attack against them. He thinks they shouldn't be advesrtised in the gabling section. Well duh? Where else would you advertise or discuss a HIGH RISK INVESTMENT PROGRAM. He's on the default trust also. I think he should go a bit more easy with the feedback when it comes to his personal opinion. He's making people like you look bad on the forums for just creating a discussion. It's now proven that he was wrong since you were obviously not promoting this. If you were you would have known when it would close down and go away with your money.

Thank you alani123 & yonce for your support


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Qwiner
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June 08, 2014, 08:07:14 PM
 #2287

Waiting for your BTC claims to be refunded is really, certainly not a nice feeling.


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armin22
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June 08, 2014, 08:10:15 PM
 #2288

No reply from admin yet even after i sent my PM...

FreeJack2k2
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June 08, 2014, 08:11:06 PM
 #2289

Waiting for your BTC claims to be refunded is really, certainly not a nice feeling.



Better than the feeling I had when the funds were locked away in a "legacy" wall, or when the site disappeared...at least we are seeing movement.

No reply from admin yet even after i sent my PM...

He isn't replying until you are paid.
SilverSurfer972
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June 09, 2014, 01:49:51 AM
 #2290

I just caught up with the status of the whole thing and I am very surprised how this is turning out.
I was really depressed about my loss(6.6BTC) and today I am glad to see that the admin is doing efforts to reimburse the people who invested in his site.
If I receive my funds back my faith in humanity will be restored.
Anyway PM and email sent today. I am hoping for the best.
 Undecided
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June 09, 2014, 02:11:20 AM
 #2291

Personally, I would really like to know how much Bitcoin he is working with...but unfortunately, after all of the blatant lies we have been fed, I am having a real hard time believing any of the stories. The 232 email refunds really sticks in my craw, I don't believe that number at all...I believe it's just a way for him to slow payments to people we can track, to obscure how much is ACTUALLY being repaid.

232 emails could be real.  I sent both an email and a PM on 5/29 GST+9.   Some people probably sent many emails.   You don't know if it is 232 emails from 232 different people.   

   

BTC-Arbs
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June 09, 2014, 02:31:29 AM
 #2292

Refunds continued today.

Currently pending

221 pending refund emails  (including duplicates/spam)
98 pending refund PMs   (including duplicates)

Today

4 full email refunds paid
4 full PM refunds paid

Reminder that all emails with attachments are deleted. Do not send an attachment.
Some emails replied to with timeframe until completion.
FreeJack2k2
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June 09, 2014, 03:34:49 AM
 #2293

Three days since my last payment. Not sure how you are going to pay me in the agreed upon timeframe, at this rate.
chris45215
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June 09, 2014, 06:25:31 AM
 #2294

Kudos to Btc-Arbs for posting here and making the repayments more public. And more importantly, EXCELLENT work to everyone on the forum for building and maintaining the repayment spreadsheet.

My advice to Btc-Arbs: Pay off the smallest accounts as soon as possible; certainly any that are less than 0.25 BTC to get them out of the way. Make your job easier. Stay in contact with your larger customers and keep a steady flow of coin back to them as well. Also, set up social media accounts (Twitter, Facebook, etc) and announce those accounts here so people know they are linked to you.

Everyone with larger balances: I would not expect all amounts to be repaid within a short time frame of a month or two. The admin at Btc-Arbs has already shown that he is over-optimistic with his promises. Based on the very limited information available, I believe he uses an arbitrage system that is sub-optimal. In other words, his system is inferior to the one I use - I have a good sense of my profitability, and the days that I make those profits. I would not expect to make 350 BTC within a month or two, so I do not think he can either.



If anyone is considering a future arbitrage program, please take this advice from someone who is doing the real thing:
1: They will not accept small deposits. As Btc-Arbs has discovered, managing several hundred customers can be a nightmare when all of them want a response at once.
2: They will not post daily profit reports, or at least will post a huge caveat with the report. Arbitrage profits are NOT simple arithmetic. A good system may use quantitative analysis in addition to arbitrage, and this complicates everything. Also, there are occasions when the buy and sell happen across midnight (thus they are on different days), so a daily profit does not exist for these trades.
3: They will have a system that provides security and separation of machines. The arbitrage platform will not be on the same computer that hosts the website, and another separate computer will be used for customer interaction. Overlapping these systems is pure insanity for any business, and suicidal for a bitcoin-based business, as Btc-Arbs has sadly discovered. A half-decent hacker can create a custom trojan and try to send it through the website or email - and very few (if any) antivirus programs will detect a new customized trojan because it is not in their dictionary.

If you see a program that does not satisfy these three basic conditions, then look somewhere else.
GingaNutz
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June 09, 2014, 08:09:40 AM
 #2295

Had my investment refunded (0.2BTC) via PM. Attempted email but box was full.
farhan khan
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June 09, 2014, 08:42:54 AM
 #2296

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

SHARECOIN SkXbzpusT3zKuV3tgVgmZWfvGjdaAn3qss
dyask
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June 09, 2014, 08:58:48 AM
 #2297

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

Many of us are still waiting for our refunds.
elend
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June 09, 2014, 10:41:58 AM
 #2298

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

Did you insert/add yourself to the spreadsheet at:

 https://docs.google.com/spreadsheets/d/1lSUi0_1bqe0sv5XI4EvXWPcWI7fwnJbFQY-kMsYxp10/edit?pli=1#gid=1324696940
ral_miramar
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June 09, 2014, 12:04:26 PM
 #2299

BTC Arbs: thank you for your responsibility, to come forward.
Request, reply mail, with payment proposal, according to their means.
I await your response.
thanks

BTC:1FULGD54bT7m9qwBBPGphNwGpy8cfFXRkU
lesnod11
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June 09, 2014, 02:07:10 PM
 #2300

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

Have you not been reading this board? You're preaching to the choir! We are all here hoping and waiting for our funds back.
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