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Author Topic: btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds  (Read 254174 times)
chilly2k
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July 14, 2015, 08:51:16 PM
 #3561

If he goes much longer without getting payments to people, I'm going to go ahead and report he and his partner to the local authorities. This has been stretched out long enough and if nobody is getting paid, there's no reason to keep the hounds at bay anymore.
pff i doubt that they will do anything about it will they? they will say that they did not use real money thats why it was not a real crime, though its just my opinion about it

However, they actually DID use real money...they also accepted deposits in USD.

Realistically, .05 BTC every couple of months isn't doing it for me anymore either...I haven't reported them, after having confirmed their identities (at least two of them) because it seemed like there was still a chance people would get paid back. The effort to do so has been SERIOUSLY lacking, though - so I'll probably send the collected info to the authorities, unless we see some serious movement soon. I won't miss the $15 or so every two months and these guys need to answer for what they've done.

    Keep us posted, and let us know if we can also be added to the complaint.  Not sure that you can report anything other then what you personally are owed. 

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chavysosavy
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July 14, 2015, 08:53:42 PM
 #3562

If he goes much longer without getting payments to people, I'm going to go ahead and report he and his partner to the local authorities. This has been stretched out long enough and if nobody is getting paid, there's no reason to keep the hounds at bay anymore.
pff i doubt that they will do anything about it will they? they will say that they did not use real money thats why it was not a real crime, though its just my opinion about it

Also thats false. Bitcoin is property, one also has to pay taxes on it since it is recognized by the irs. So yeah stealing property last time i checked is a crime. Freejack i suggest you dont wait much longer.
chilly2k
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July 14, 2015, 09:00:34 PM
 #3563

If he goes much longer without getting payments to people, I'm going to go ahead and report he and his partner to the local authorities. This has been stretched out long enough and if nobody is getting paid, there's no reason to keep the hounds at bay anymore.
pff i doubt that they will do anything about it will they? they will say that they did not use real money thats why it was not a real crime, though its just my opinion about it

Also thats false. Bitcoin is property, one also has to pay taxes on it since it is recognized by the irs. So yeah stealing property last time i checked is a crime. Freejack i suggest you dont wait much longer.

"Bitcoin is property" in some places.  Not sure where Mr arbs lives but I have a feeling, you will have to somehow, get to his local authorities.  I know locally the police act like secretaries for the insurance company's.    They don't plan on solving a crime, unless something drops right in their lap. 

    Please keep us informed, even if you seem to get no where.  I'd be interested in what you try and what they can do for you.   

FreeJack2k
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July 14, 2015, 10:15:47 PM
 #3564

If he goes much longer without getting payments to people, I'm going to go ahead and report he and his partner to the local authorities. This has been stretched out long enough and if nobody is getting paid, there's no reason to keep the hounds at bay anymore.
pff i doubt that they will do anything about it will they? they will say that they did not use real money thats why it was not a real crime, though its just my opinion about it

Also thats false. Bitcoin is property, one also has to pay taxes on it since it is recognized by the irs. So yeah stealing property last time i checked is a crime. Freejack i suggest you dont wait much longer.

I'll give him a chance to explain himself and get payments going in a much more timely fashion, but if he doesn't break the silence and take some substantial action soon, I'm not losing much of anything by reporting what happened. At this point, I'm just sick of the entire game he's been playing with us for the last year and don't particularly expect to be paid back what I'm owed, given the pace we've seen over the last 12+ months. So there's no point in letting them off the hook anymore. There won't really be the possibility of any kind of group action and nobody should expect to see a dime from it, as it'd just be a criminal investigation. I'm not going to throw good money after bad and lawyer up, etc... But BTC-Arbs should understand that I (and many others) have reached my limit with this.

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btclemming
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July 19, 2015, 07:47:57 AM
 #3565

If he goes much longer without getting payments to people, I'm going to go ahead and report he and his partner to the local authorities. This has been stretched out long enough and if nobody is getting paid, there's no reason to keep the hounds at bay anymore.
pff i doubt that they will do anything about it will they? they will say that they did not use real money thats why it was not a real crime, though its just my opinion about it

Also thats false. Bitcoin is property, one also has to pay taxes on it since it is recognized by the irs. So yeah stealing property last time i checked is a crime. Freejack i suggest you dont wait much longer.

I'll give him a chance to explain himself and get payments going in a much more timely fashion, but if he doesn't break the silence and take some substantial action soon, I'm not losing much of anything by reporting what happened. At this point, I'm just sick of the entire game he's been playing with us for the last year and don't particularly expect to be paid back what I'm owed, given the pace we've seen over the last 12+ months. So there's no point in letting them off the hook anymore. There won't really be the possibility of any kind of group action and nobody should expect to see a dime from it, as it'd just be a criminal investigation. I'm not going to throw good money after bad and lawyer up, etc... But BTC-Arbs should understand that I (and many others) have reached my limit with this.

Hi all.
I lost a lot in BTC-ARBS... until today, I received 4.8751 BTC from the 35 BTC I sent last year. (from this, I received 4.4 BTC before we started this thread)...
Last 0.02 BTC (!) transfer was made on 21 of april... Needless to say that the amounts refunded, and the rhythm of refunds is FAR from being acceptable.
 I am available to help (from europe) anyone for any kind of procedure that would help speeding up the process. FreeJack, would you think of something ? Can you guys share the info you have about the BTC-ARBS guy (in PM) ?
Thks
Phildo
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July 19, 2015, 02:49:31 PM
 #3566

this is about that time when someone with a brain would question how much money a great trader made with all the volatility this week and then he would show up and throw some peanuts to the crowd to appease you guys, wonder why that's not happening?

FreeJack2k
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July 19, 2015, 08:15:42 PM
 #3567

It's been quite some time since we heard a peep out of BTC-Arbs, so I'm very close to just completely writing off my losses and reporting these two (that I know of) to their local authorities. It won't amount to anything for anyone here, in fact in all likelihood it'll end what little payments we were seeing as it is, but after a year of this little trickle of Bitcoin every few months, I doubt anyone will be too concerned or surprised. I feel like my chain has just been jerked way too long on this thing and I'm over it. It's time for them to answer for what they did in a way that has some meaning.

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brozinic
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July 22, 2015, 02:34:21 PM
 #3568

If they don't start paying again , write out there names and adresses....  Angry
Phildo
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July 22, 2015, 02:41:42 PM
 #3569

It's been quite some time since we heard a peep out of BTC-Arbs, so I'm very close to just completely writing off my losses and reporting these two (that I know of) to their local authorities. It won't amount to anything for anyone here, in fact in all likelihood it'll end what little payments we were seeing as it is, but after a year of this little trickle of Bitcoin every few months, I doubt anyone will be too concerned or surprised. I feel like my chain has just been jerked way too long on this thing and I'm over it. It's time for them to answer for what they did in a way that has some meaning.

You should have done that a long time ago, it was obvious that it was a ponzi from the beginning, and all but confirmed when it "died."

You can't do arbitrage with unlimited amounts of money because of slippage, I hope you enjoy the pennies you got as "refunds" as they allowed him an extra year of having to deal with any possible repercussions to ripping you off.

FreeJack2k
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July 22, 2015, 08:40:54 PM
 #3570

Thanks for your pointless input, Phildo. We've all been enriched by it.

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Phildo
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July 23, 2015, 02:58:18 AM
 #3571

You are welcome. If it took you this long to realize you were being jerked around you need all the help you can get.

He was a liar, but you would have no money even if he wasn't because his plan wouldn't/couldn't work. The great thing about this forum is that everyone gets to learn from other people's mistakes. Sorry if it hurts your feelings but I'm always amazed when I read comments on year old obvious scam threads say anything but that I have to point it out so other people won't fall for the same scam again

FreeJack2k
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July 23, 2015, 07:30:42 PM
 #3572

I don't think most of us are still "fooled" into believing that arbitrage was ever part of this scenario...most are at the very least highly skeptical of it. So you aren't telling us anything we don't know. The reason no action had been taken to this point is because they were still paying people back. Scraps, to be sure, but most felt that something was better than nothing. I think, given the lack of payments and communication recently, most of us are just sick of the game and the trickle of payments is not enough to keep the dogs at bay.

After giving fair warning here, I've contacted Malay authorities with the information I had, as well as the doxxing research that led to the discovery of at least two people who ran this scam...one of whom has known ties to other HYIP schemes. Paying me $13 or so every six to eight weeks is not enough to make me care about this bullshit anymore.

Here is a link to the forum thread that contains all of the doxxing research, for anyone who is interested:

https://bitcointalk.org/index.php?topic=639298.0

Jonathan Lee and Goh Kiang Hok are both involved; when I confronted BTC-Arbs with these names, I was told that if I revealed the names of he or his associates, I would no longer receive payments. As I said above, I don't really care now and can't be bothered with this dog & pony show anymore. I recommend anyone that wants justice done to contact Malaysian authorities about these scammers...if they do some digging, I'm quite certain they will discover a lot more cybercrime than BTC-Arbs.com. Not everyone was seriously hurt by this scam, but those of us who had 20+ BTC in it definitely took a big hit, between the price decline of the coins and just not getting the coin back, period.

Contacting authorities will not result in anyone being paid back, of course...but it WILL make it a lot more difficult for these guys to hurt anyone else financially. Even if it just becomes part of a larger case against them.

http://www.ccid.my/
mcc@rmp.gov.my

As for me, I'm done with the games. I've written a full report for the Royal Malaysian Police and I suggest anyone else that was damaged by it, do the same.

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chavysosavy
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July 26, 2015, 01:19:44 PM
 #3573

You are welcome. If it took you this long to realize you were being jerked around you need all the help you can get.

He was a liar, but you would have no money even if he wasn't because his plan wouldn't/couldn't work. The great thing about this forum is that everyone gets to learn from other people's mistakes. Sorry if it hurts your feelings but I'm always amazed when I read comments on year old obvious scam threads say anything but that I have to point it out so other people won't fall for the same scam again

That might be th dumbest thing i ever heard. If you want to help people not get scammed dont go to a thread specifically made for people who were scammed already. Trust me, we know we got screwed. You arent some wise elder guiding us with your knowledge of hyips, youre just some loser commenting on a thread you werent even apart of.
Swifft1
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July 28, 2015, 09:33:12 PM
 #3574

You are welcome. If it took you this long to realize you were being jerked around you need all the help you can get.

He was a liar, but you would have no money even if he wasn't because his plan wouldn't/couldn't work. The great thing about this forum is that everyone gets to learn from other people's mistakes. Sorry if it hurts your feelings but I'm always amazed when I read comments on year old obvious scam threads say anything but that I have to point it out so other people won't fall for the same scam again

That might be th dumbest thing i ever heard. If you want to help people not get scammed dont go to a thread specifically made for people who were scammed already. Trust me, we know we got screwed. You arent some wise elder guiding us with your knowledge of hyips, youre just some loser commenting on a thread you werent even apart of.

Yup!

 Cool
btclemming
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August 03, 2015, 01:10:51 PM
 #3575

I don't think most of us are still "fooled" into believing that arbitrage was ever part of this scenario...most are at the very least highly skeptical of it. So you aren't telling us anything we don't know. The reason no action had been taken to this point is because they were still paying people back. Scraps, to be sure, but most felt that something was better than nothing. I think, given the lack of payments and communication recently, most of us are just sick of the game and the trickle of payments is not enough to keep the dogs at bay.

After giving fair warning here, I've contacted Malay authorities with the information I had, as well as the doxxing research that led to the discovery of at least two people who ran this scam...one of whom has known ties to other HYIP schemes. Paying me $13 or so every six to eight weeks is not enough to make me care about this bullshit anymore.

Here is a link to the forum thread that contains all of the doxxing research, for anyone who is interested:

https://bitcointalk.org/index.php?topic=639298.0

Jonathan Lee and Goh Kiang Hok are both involved; when I confronted BTC-Arbs with these names, I was told that if I revealed the names of he or his associates, I would no longer receive payments. As I said above, I don't really care now and can't be bothered with this dog & pony show anymore. I recommend anyone that wants justice done to contact Malaysian authorities about these scammers...if they do some digging, I'm quite certain they will discover a lot more cybercrime than BTC-Arbs.com. Not everyone was seriously hurt by this scam, but those of us who had 20+ BTC in it definitely took a big hit, between the price decline of the coins and just not getting the coin back, period.

Contacting authorities will not result in anyone being paid back, of course...but it WILL make it a lot more difficult for these guys to hurt anyone else financially. Even if it just becomes part of a larger case against them.

http://www.ccid.my/
mcc@rmp.gov.my

As for me, I'm done with the games. I've written a full report for the Royal Malaysian Police and I suggest anyone else that was damaged by it, do the same.

Hi FreeJack,

keep us updated if any more info from Malaysia or BTC-arbs dudes...

I'm at 30BTC lost in there.

thanks for posting anyway.
FreeJack2k
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August 03, 2015, 11:13:21 PM
 #3576

I don't expect to hear anything, but I think it's pretty clear at this point that BTC-Arbs has bailed. So start sending the Malaysian police your reports of your experiences with these guys. We have zero chance of getting our money back, but I guess I pretty much always knew that.

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DiamondCardz
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August 04, 2015, 12:29:55 AM
 #3577

Total % refunded is 4.41% and the expected full refund date is 28/01/2041, and they seem to have bailed?

Please, you will never see a full refund for your Bitcoin, or probably even another payment. Legal action is going to be tough too. Unless you lost a LOT of money, I would just write it off.
dhsc19
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August 04, 2015, 12:58:22 AM
 #3578

Possible for class action lawsuit?
FreeJack2k
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August 04, 2015, 07:49:57 AM
 #3579

Total % refunded is 4.41% and the expected full refund date is 28/01/2041, and they seem to have bailed?

Please, you will never see a full refund for your Bitcoin, or probably even another payment. Legal action is going to be tough too. Unless you lost a LOT of money, I would just write it off.

Another really helpful reply from the peanut gallery...thanks.

I say they "seem to have bailed" because whereas a couple of months ago, we'd at least get a post every week or two stating payments had gone out, there's been utter silence for a month now and nobody has seen a dime in that time period. BTC-Arbs' last login was July 7th. So yes...they seem to have bailed.

Even those who lost a lot of money, frankly, are forced to write it off...because there's almost no chance of seeking remunerations legally. It's a criminal matter, now. I don't believe there is such a thing as a class action lawsuit in Malaysia, but you'd have to ask a Malay lawyer about that. That's if these guys haven't already tucked their tails and run.

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mies_reed
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August 06, 2015, 04:08:40 PM
 #3580

Last payment for me was march 27 with an amount of 0.02 btc  Undecided
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