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Author Topic: btc-arbs.com scam??  (Read 1706 times)
icet208
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April 17, 2014, 02:10:15 PM
 #1

I saw that today btc-arbs.com is down "Internal Server Error"...
was this a scam?!?
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Rannasha
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April 17, 2014, 02:17:55 PM
 #2

It was a pretty obvious Ponzi scheme from the start, claiming results that were way beyond what you could reasonably achieve with arbitrage.
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April 17, 2014, 02:26:51 PM
 #3

I saw that today btc-arbs.com is down "Internal Server Error"...
was this a scam?!?
I am lucky that I never registered over there, but indeed it wasn't looking good from the day one.

Do you lost any money because of them?

Regards
sluppy
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April 17, 2014, 02:57:09 PM
 #4

thought it was looking to good to be true , but they paid me in full when i cashed out 2 days ago.
guess i got very lucky.

all these sites there are a few more all seem to be in panama any reason for that ?

The only thing necessary for the triumph of evil is for good men to do nothing. Edmund Burke -- May the forces of evil become confused on the way to your house.George Carlin
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icet208
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April 17, 2014, 03:47:09 PM
 #5

i`ve lost 0.05 btc..that was the minimum deposit..
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April 17, 2014, 03:58:33 PM
 #6

i re-deposited because i trusted them.

re-deposited on the 15th, all my bitcons.... .657

i'm also moving today, was going to hit the robocoin atm...

THANKS BTC ARBS

YOU JUST FUKED MY LIFE THERE BUD
icet208
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April 17, 2014, 05:02:50 PM
 #7

it`s back on...should i withdraw?
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April 17, 2014, 05:08:47 PM
 #8

maybe it was just temporarily down. A week back I got my 0.05 raised to 0.052 and withdrew it without any issues.

Pinkcoin Donations Address ---> PINK: PB9TmJXZTqzLroz9cLzCQe2cNWzEwJeq5g | BTC: 14Yxxxxko19qtLi3k2yvtWQ54vSQg2mLjB <---
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April 25, 2014, 01:23:37 AM
 #9

BTC-ARBS took 65BTC's from me then disabled my account and I cant login to retrieve my money. When I tried their support they dont answer. I had to go on their Facebook page (https://www.facebook.com/pages/Btc-Arbs/1455469264688042) the only reason they answered is because I commented on the wall and they said it will take a long while to sort out my login issue because they get 700 requests a day. The basically took off with my money because Password reset is automated. They even deleted any trace of my email that way I cant reset the password. Good think I took an image of the site every day and the transaction records and all correspondence with it's proprietor Adam including his emails asking me to send US$ to an account in Hong Kong with all the bank account details.

The guy that runs the one man show is called Adam. They claim to be based in Geneva which is bogus, Adam claims he lives in Canada but now is in China. Their Bank account is in Hong Kong and the website is registered in panama. Sounds like Alcapone. I have details of the details of their account in Hong Kong which I will turn over to the authorities here in America if they dont return my money in a couple of days on the hope I save someone else from being suckered.
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April 25, 2014, 09:09:15 AM
 #10

same story here unfortunately. my account simply vanished, can't login, gone with all my BTC there.
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April 25, 2014, 10:06:08 AM
 #11

BTC-ARBS took 65BTC's from me then disabled my account and I cant login to retrieve my money. When I tried their support they dont answer. I had to go on their Facebook page (https://www.facebook.com/pages/Btc-Arbs/1455469264688042) the only reason they answered is because I commented on the wall and they said it will take a long while to sort out my login issue because they get 700 requests a day. The basically took off with my money because Password reset is automated. They even deleted any trace of my email that way I cant reset the password. Good think I took an image of the site every day and the transaction records and all correspondence with it's proprietor Adam including his emails asking me to send US$ to an account in Hong Kong with all the bank account details.

The guy that runs the one man show is called Adam. They claim to be based in Geneva which is bogus, Adam claims he lives in Canada but now is in China. Their Bank account is in Hong Kong and the website is registered in panama. Sounds like Alcapone. I have details of the details of their account in Hong Kong which I will turn over to the authorities here in America if they dont return my money in a couple of days on the hope I save someone else from being suckered.
DUDE!! 65 BTC are you fcking serious!!?
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April 25, 2014, 10:27:37 AM
 #12

I found new thread about them:
https://bitcointalk.org/index.php?topic=583531.new#new

I warn users by posting a link to this thread over there.

Be aware and WarnABrother Smiley

sonysasankan
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April 25, 2014, 11:54:00 AM
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BTC-ARBS took 65BTC's from me then disabled my account and I cant login to retrieve my money. When I tried their support they dont answer. I had to go on their Facebook page (https://www.facebook.com/pages/Btc-Arbs/1455469264688042) the only reason they answered is because I commented on the wall and they said it will take a long while to sort out my login issue because they get 700 requests a day. The basically took off with my money because Password reset is automated. They even deleted any trace of my email that way I cant reset the password. Good think I took an image of the site every day and the transaction records and all correspondence with it's proprietor Adam including his emails asking me to send US$ to an account in Hong Kong with all the bank account details.

The guy that runs the one man show is called Adam. They claim to be based in Geneva which is bogus, Adam claims he lives in Canada but now is in China. Their Bank account is in Hong Kong and the website is registered in panama. Sounds like Alcapone. I have details of the details of their account in Hong Kong which I will turn over to the authorities here in America if they dont return my money in a couple of days on the hope I save someone else from being suckered.
DUDE!! 65 BTC are you fcking serious!!?

+65 Are you fucking seriously insane??

Pinkcoin Donations Address ---> PINK: PB9TmJXZTqzLroz9cLzCQe2cNWzEwJeq5g | BTC: 14Yxxxxko19qtLi3k2yvtWQ54vSQg2mLjB <---
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thepianoguy
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April 25, 2014, 12:27:34 PM
 #14

Same here. They changed the password/email so I can't login anymore.

See:
https://bitcointalk.org/index.php?topic=474787.msg6358999#msg6358999

I lost 10 BTC  Embarrassed
sunny1
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April 25, 2014, 12:42:47 PM
Last edit: April 25, 2014, 12:55:05 PM by sunny1
 #15

Same here. They changed the password/email so I can't login anymore.

See:
https://bitcointalk.org/index.php?topic=474787.msg6358999#msg6358999

I lost 10 BTC  Embarrassed

We can surely conclude now that they are a SCAM. Will investigate further. I might get some more information in the days ahead. Seems Adam is known as 'sceptre' on the talkgold.com ponzi forum and a close friend of another infamous guy there, with the nickname 'patryn'. A former evangelist and pusher of the now defunct ponzi payment processor Lberty Reserve. Rest assured Adam we are very close...
sunny1
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April 25, 2014, 03:51:42 PM
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Wnere are all the previous pages now???
sunny1
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April 25, 2014, 04:15:25 PM
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Seems this thread was for whatever reason moved from gambling to service discussions, without any of the previous posts attached
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April 27, 2014, 05:42:04 AM
 #18

I deposited 2 BTC a week ago and nothing changed in my balance.
No reply from their support.

This message appeared in their support zone:

Quote
From   administrator
Sent on   April 22nd 2014
Today we have some exciting news that will have a great impact on the overall future of BTC-Arbs as well as all of our arbitrage investors. Over the past few months, BTC-Arbs has grown to become the most prominent and successful Bitcoin arbitrage investment in the Bitcoin community. During this time, we have seen a great deal of interest from venture capitalists, as well as other investors. While the previous buy-out offers that we've received haven't reached the value that we feel that company is worth, we have just negotiated a deal that we believe is fair for all parties.

Effective immediately, BTC-Arbs will be owned and operated by the Global Capital Alliance. The Global Capital Alliance is a venture capital firm that has dove in head first to the Bitcoin industry, and has made a number of strategic investments to position itself for what they believe is the upcoming mass adoption of Bitcoin. With a portfolio of other services such as Bitcoin wallets and cold storage solutions, as well as Bitcoin related retailers, the Global Capital Alliance is the perfect group to take over management of BTC-Arbs and drive it "to the moon".

As a member of BTC-Arbs, you're likely wondering how this will impact the day to day operations of the website, as well as the ability for the site to provide long term earnings. Rather than speak about this myself, I will allow Ron James, the CEO of The Global Capital Alliance to share his thoughts and vision for the future of BTC-Arbs. Please find Ron's introductory note below.

Dear BTC Arbs Members,

It is a pleasure to be part of the team that has recently acquired BTC-Arbs. With offices around the globe, and institutional investors banging at the door, we feel that the time is now for Bitcoin to make a huge splash in the global investment and financial industries. We plan on taking BTC-Arbs from its current form of an unregulated Bitcoin "fund" and transforming it into an institutional investment powerhouse that will serve worldwide investors for years to come. As part of this process, we will be restructuring numerous aspects of the program, evaluating the fund's current assets, and creating a strategy for long term growth. I have outlined the basic steps that we will be immediately taking.

1. All current balances will be reviewed to ensure that everything is correct. It is believed that some user balances are incorrect due to the Heartbleed Bug that impacted the website at the beginning of April.

2. Current Bitcoin Balances will be relocated within your account and placed in a balance known as the "Legacy Fund."

3. The daily arbitrage earnings will apply only to the new Bitcoin balance and will not be calculated on the Legacy Fund.

4. Funds in the Legacy Fund will be moved to the current Bitcoin balance as we successfully transfer the funds from the previous owners exchange accounts into our new corporate accounts. Furthermore, prior to being transferred, Legacy Funds will be reviewed for accuracy.

5. The regular fund will continue to earn as usual. New deposits will be accepted and withdrawals will be processed in the normal time frame.

6. USD Deposits will no longer be accepted. USD Balances are currently being paid out directly to USD users as we speak. If you have a USD Balance, you will soon (if not already) receive a message from our new team with instructions on how to either convert your USD balance to Bitcoin, or withdraw it entirely. Some users have already been sent the value of their accounts to their respective e-currency account.

7. New Bitcoins deposits will go into the regular Bitcoin balance and will continue earning each day.

The above steps may seem somewhat

If you have any questions about the acquisition of BTC-Arbs, please submit a message in the "Support Zone".

Sincerely,
Ron James
Global Capital Alliance"


As part of the acquisition, I (Adam) will not be continuing on. I am confident that everyone is in good hands with Ron and everyone from GCA.

Adam
Reply


If anybody has some new information please let us know.
Thanks
icet208
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April 27, 2014, 09:35:58 AM
 #19

wtf is that LEGACY FUND BALANCES? ..cant withdraw that btc
clownius
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April 27, 2014, 10:27:58 AM
 #20

wtf is that LEGACY FUND BALANCES? ..cant withdraw that btc

It seems to be the BTC they are keeping for themselves and trickling out to you when they see fit.

Now maybe they are totally honest and do believe some balances have been fudged due to heartbleed and will give it back once its all been audited i dont know.  But i wouldnt rush to send them money just yet and would take out what you can until they give better info.
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