stay away from this ( scam allert for arbitrage traders)

[Bountyfox]

For those who've been in the crypto space for a while, it's no surprise that Bitcoin has been a mainstay since the early days, often subject to various arbitrage schemes. However, it's crucial to shed light on this issue, especially for newcomers who might be unfamiliar with the risks involved.

I decided to investigate after seeing a promotion on a platform "X," and upon visiting the website ( https://ethereum-arbitrages.com/ ), it claimed that Ethereum could generate a staggering 20% ROI within 24 hours through arbitrage. Additionally, they suggested that ETH2 would facilitate smart contracts ( https://ethereum-arbitrages.com/code ) to interact with a bot for automated gains. Unfortunately, the reality isn't as rosy as painted.

Disturbingly, individuals who attempted this approach previously warned of a potential smart contract backdoor, though they've since deleted their messages. What's more concerning is that this dubious information is actively being disseminated via Telegram.

I implore anyone who comes across this to stay far away from such scams, as they pose a significant threat to the investments of many. In a space as exciting as cryptocurrency, safety and due diligence are paramount to protect your assets and financial future.
And it's important to note that this isn't an isolated case. Unfortunately, there are many more similar schemes and scams lurking in the crypto sphere. While cryptocurrency offers immense potential, it also attracts its fair share of bad actors looking to exploit the uninformed.

[adaseb]

You need to assume that any link you find on X, the older twitter that it’s most likely some scam. Especially if it’s related to crypto.

Elon musk is doing a horrible job in dealing with those scam bots and I think the old twitter had less spam. Anything crypto related usually has tons and tons of spam replies that you need to filter thru all that before you get any legit replies.

In the future, any claim like 20% gains in a day is just too good to be true and a scam.

[Oshosondy]

In the future, any claim like 20% gains in a day is just too good to be true and a scam.

20% ROI in a day is possible in trading, but that does not mean it is possible everyday. In risky trading like that, a day of significant loss would come and the net profit would still be of significant loss. I mean if someone is not following the ways of the scammers by being the victim. I noticed that some sites and impersonating scammers are using promising ROI to look for victims and everything they are saying are not real but fake in a way to scam.

[taufik123]

In the future, any claim like 20% gains in a day is just too good to be true and a scam.

20% ROI in a day is possible in trading, but that does not mean it is possible everyday. In risky trading like that, a day of significant loss would come and the net profit would still be of significant loss. I mean if someone is not following the ways of the scammers by being the victim. I noticed that some sites and impersonating scammers are using promising ROI to look for victims and everything they are saying are not real but fake in a way to scam.

Victims who are targeted are usually those who are new or those who are too complacent about the large profits.
A 20% ROI is a huge amount on a 24-hour arbitrage trade.

Thinking in real terms, is there such a platform that provides huge profits in just 24 hours?
Getting 20% ROI in trading also requires a pretty good strategy and analysis and is not easy to do.

Even fraudulent sites promise a higher ROI that can reach 50%.
Must be more selective and do research so as not to get trapped.

Sometimes we also have to think like a fraudster to know what the fraudster is planning.
We must think critically and not be tempted by promises of large profits that do not make sense.

[Potato Chips]

I decided to investigate after seeing a promotion on a platform "X," and upon visiting the website...

You know what they say, if it's too good to be true, it probably is 😌

Also, I suggest breaking the links on your post (make it not clickable) so you do not contribute to the scammer's backlinks.

Disturbingly, individuals who attempted this approach previously warned of a potential smart contract backdoor, though they've since deleted their messages. What's more concerning is that this dubious information is actively being disseminated via Telegram.

Ohhh that's indeed strange as this is such a blatant scam. I imagine such people wouldn't need to think hard in order to say it's a scam. I wouldn't rule out the chance that they're accomplices or smth.

and telegram being telegram, amirite? lol

[Yamane_Keto]

If there is a guaranteed way to make an automatic profit, the developer of that method will not need to make it paid or available to everyone. You have got a gold mine and can borrow any amount and make thousands of dollars in profits.
Arbitrage is possible if there is a fast trading bot. You can obtain an API for central platforms after completing verification of your identity and knowing how to do it correctly, but even this arbitrage is not profitable, especially with bots that have begun to correct the price quickly and not as it was in the past.

Telegram is the worst place to get investment advice.

[Lakai01]

Arbitrage is possible if there is a fast trading bot. You can obtain an API for central platforms after completing verification of your identity and knowing how to do it correctly, but even this arbitrage is not profitable, especially with bots that have begun to correct the price quickly and not as it was in the past.

I see it the same way.
But I would like to add here for the sake of completeness that you don't need to think about writing an arbitrage bot yourself. In the meantime, a battle has broken out on the arbitrage market for the fastest bots and algorithms, where companies with tens of employees are sitting behind them and perfecting the bots. You don't stand a chance with self-written software, because speed is what counts in arbitrage.

In principle, however, the same applies here: Anyone who promises you incredible profits in an incredibly short time is lying to you. This is simply not possible (luck in the lottery aside).

[Yamane_Keto]

But I would like to add here for the sake of completeness that you don't need to think about writing an arbitrage bot yourself. In the meantime, a battle has broken out on the arbitrage market for the fastest bots and algorithms, where companies with tens of employees are sitting behind them and perfecting the bots. You don't stand a chance with self-written software, because speed is what counts in arbitrage.

Speed is required in Bitcoin and all cryptocurrencies with high liquidity, but if you want to carry out arbitrage with some altcoins in which liquidity may differ, you can simply make a good profit without using a fast bot. with arbitrage here is that the value of the currency may fall quickly or it may not. You find sufficient liquidity to execute your order quickly and you need to use a market order (it will eliminate all your profits)

although arbitrage in altcoins is profitable and without additional bot costs, I prefer a fast bot with Bitcoin.

[tjtonmoy]

The pool who falls for this kind of scam are people who do not know enough. If you have been in the crypto world for a longer period of time and have faced similar situation before, then you can easily identify a scam and a legit scenario. Knowledge is the key and the more you learn, the more you know. Imagine a person who is involved with cryptocurrency for a longer period of time, then you will know that the offer they are providing are not legit. I'm in 20% ROI within 24 hours time is achievable, but how are they going to make it? In trading lost and profit is inevitable. It carries risks. If they guarantee you that you can gain 20% no matter what then they are lying.

It is better to stay away from this kind of things and do it on your own. Enjoy what you are doing and not rely on something that is too good to be true. Greed is a thing that led to losses. Instead of relying on some bots, be happy with what you are making on your own and work on your strategies so that you can make more in the future. Relying on to something else would never help improving yourself.

[jaberwock]

Arbitrage is possible if there is a fast trading bot. You can obtain an API for central platforms after completing verification of your identity and knowing how to do it correctly, but even this arbitrage is not profitable, especially with bots that have begun to correct the price quickly and not as it was in the past.

I see it the same way.
But I would like to add here for the sake of completeness that you don't need to think about writing an arbitrage bot yourself. In the meantime, a battle has broken out on the arbitrage market for the fastest bots and algorithms, where companies with tens of employees are sitting behind them and perfecting the bots. You don't stand a chance with self-written software, because speed is what counts in arbitrage.

In principle, however, the same applies here: Anyone who promises you incredible profits in an incredibly short time is lying to you. This is simply not possible (luck in the lottery aside).

Yes, because arbitrage can also be done manually and this is where it all begun, but experts think of a more efficient way of doing it, so they think a bot can handle it better. If we have a talent with it why not depend only on our own ability? If not and if we are curious of trying it, we can just pick the best arbitrage bots in the market today. Trading was still unpredictable after all so yeah, they shouldn't set a fix profit that we can earn by using these bots.

And if it's possible then why can they just solo their bots and print unlimited money? There is no point of selling them for some tiny amounts. We should be careful at them. They definitely use it as a marketing ploy.

[edmundduke]

For those who've been in the crypto space for a while, it's no surprise that Bitcoin has been a mainstay since the early days, often subject to various arbitrage schemes. However, it's crucial to shed light on this issue, especially for newcomers who might be unfamiliar with the risks involved.

I decided to investigate after seeing a promotion on a platform "X," and upon visiting the website ( https://ethereum-arbitrages.com/ ), it claimed that Ethereum could generate a staggering 20% ROI within 24 hours through arbitrage. Additionally, they suggested that ETH2 would facilitate smart contracts ( https://ethereum-arbitrages.com/code ) to interact with a bot for automated gains. Unfortunately, the reality isn't as rosy as painted.

Disturbingly, individuals who attempted this approach previously warned of a potential smart contract backdoor, though they've since deleted their messages. What's more concerning is that this dubious information is actively being disseminated via Telegram.

I implore anyone who comes across this to stay far away from such scams, as they pose a significant threat to the investments of many. In a space as exciting as cryptocurrency, safety and due diligence are paramount to protect your assets and financial future.
And it's important to note that this isn't an isolated case. Unfortunately, there are many more similar schemes and scams lurking in the crypto sphere. While cryptocurrency offers immense potential, it also attracts its fair share of bad actors looking to exploit the uninformed.

As the age old saying goes, if it sounds too good to be true it most likely is. Still good that you bring attention to this.
A few years ago there were different type of arbitrage scams. A few exchanges had several markets where they listed coins for a much higher or lower price. This created a situation where people tried to arbitrage but when they deposited they lost all their money as the exchange never allowed anyone to withdraw. That was pretty damn nasty

[Aanuoluwatofunmi]

In the future, any claim like 20% gains in a day is just too good to be true and a scam.

20% ROI in a day is possible in trading, but that does not mean it is possible everyday. In risky trading like that, a day of significant loss would come and the net profit would still be of significant loss. I mean if someone is not following the ways of the scammers by being the victim. I noticed that some sites and impersonating scammers are using promising ROI to look for victims and everything they are saying are not real but fake in a way to scam.

Smammers are using arbitrage trading to perform alot of evil because even when they know by themselves that something is not possible, yet they will make it look real and very possible for us to just give a take on it, if you're into arbitrage trading, then know that there's nothing you're doing other than gambling in this context, some return on investment offered were just unbelievable to be true except if we just want to deceives ourselves on them.

[kingvirtus09]

I can't open the site platform. Well,  anyway, as far as I know, it's possible that we can really get a profit in a day of 20% and sometimes even more, but of course it depends on what's happening in the crypto space and on the sellers of assets they have.

That's why the market is called unpredictable; it's volatile, and that's why pump and dump happens sometimes, right? But we also know that this does not happen often or every day; rather, it only happens once in reality. Now, if someone says that you can earn 20% daily, that is obviously not telling the truth, and that person is possibly a scammer or a red flag for sure, so if that is the case, avoid it immediately.

[Silberman]

I can't open the site platform. Well,  anyway, as far as I know, it's possible that we can really get a profit in a day of 20% and sometimes even more, but of course it depends on what's happening in the crypto space and on the sellers of assets they have.

That's why the market is called unpredictable; it's volatile, and that's why pump and dump happens sometimes, right? But we also know that this does not happen often or every day; rather, it only happens once in reality. Now, if someone says that you can earn 20% daily, that is obviously not telling the truth, and that person is possibly a scammer or a red flag for sure, so if that is the case, avoid it immediately.

Arbitrage trading sounds like an easy strategy to implement but the truth is the opposite, arbitrage produces very small profits so you need to have a lot of money to make it worthwhile, also the window of opportunity you have to execute your trade is very small, and I really believe that unless you can code your own bot which can perform those trades then you should not bother with it, so offers like the one described at the OP should immediately be considered as a scam, since there is no way those results are actually possible.

[Natsuu]

In the future, any claim like 20% gains in a day is just too good to be true and a scam.

20% ROI in a day is possible in trading, but that does not mean it is possible everyday. In risky trading like that, a day of significant loss would come and the net profit would still be of significant loss. I mean if someone is not following the ways of the scammers by being the victim. I noticed that some sites and impersonating scammers are using promising ROI to look for victims and everything they are saying are not real but fake in a way to scam.

Right. I think it is also possible to hit a 20% ROI sometime in a day but if the promise is a guaranteed everyday thing, I doubt it is true. Trading is risky and those huge gains can vanish fast. Also, scammers are very innovative nowadays, some sites promise crazy returns just to con people. Its all smoke and mirrors, not real ha thats why staying smart and not falling for those traps is crucial. We also have to do our own research so we can watch out from those scammers

[Kelvinid]

If there is a guaranteed way to make an automatic profit, the developer of that method will not need to make it paid or available to everyone. You have got a gold mine and can borrow any amount and make thousands of dollars in profits.
Arbitrage is possible if there is a fast trading bot. You can obtain an API for central platforms after completing verification of your identity and knowing how to do it correctly, but even this arbitrage is not profitable, especially with bots that have begun to correct the price quickly and not as it was in the past.

That is the fact that we don't have to believe those people who would tell and convince us their trading strategies work so well and guarantee profit. And much more of using trading bots because nothing has made a perfect fit for the market volatility. We must have to know trading is not for everyone, some become successful while some traders also fail.

Telegram is the worst place to get investment advice.

I agree with this, yes a lot of people get scammed for trusting someone who is proclaimed as an expert and use this platform to covince people but the truth is that they know nothing in real life.