Atlas Quantum - Scam or legitimate? | Bitcointalksearch.org

tmfp

legendary

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"Common rogue from Russia with a bare ass."

Quote from: Paulo2 on September 11, 2019, 03:52:18 PM

Quote from: tmfp on September 11, 2019, 10:13:06 AM

Quote from: Paulo2 on September 11, 2019, 08:07:30 AM

This doc theoretically proved that they have enough to pay everyone with Bitcoins and stablecoins.

How did it do that, when there was no audit/analysis of creditors? The auditors nor anyone else, bar the scheme admin, know what the scheme's investment repayment schedule is.
Sure, apparently there's something in the region of $185m of assets in exchange accounts.
What if that's all that's left of say $300m invested?

Where did you see this 300M information?

It's an example I made up. Does anyone know how much they owe to investors, all of whom are expecting 140+% ROI?
It could be $400m, $200m, name a figure.

Quote

They said they had 15K BTC in custody

Yes, so that's ~$150m plus $35m stable = ~$185m. As I said, an impressive figure, but meaningless without knowing the other side of the balance sheet.

Paulo2

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Merit: 61

Quote from: tmfp on September 11, 2019, 10:13:06 AM

Quote from: Paulo2 on September 11, 2019, 08:07:30 AM

This doc theoretically proved that they have enough to pay everyone with Bitcoins and stablecoins.

How did it do that, when there was no audit/analysis of creditors? The auditors nor anyone else, bar the scheme admin, know what the scheme's investment repayment schedule is.
Sure, apparently there's something in the region of $185m of assets in exchange accounts.
What if that's all that's left of say $300m invested?

Where did you see this 300M information?
They said they had 15K BTC in custody

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: Paulo2 on September 11, 2019, 08:07:30 AM

This doc theoretically proved that they have enough to pay everyone with Bitcoins and stablecoins.

How did it do that, when there was no audit/analysis of creditors? The auditors nor anyone else, bar the scheme admin, know what the scheme's investment repayment schedule is.
Sure, apparently there's something in the region of $185m of assets in exchange accounts.
What if that's all that's left of say $300m invested?

Paulo2

member

Activity: 286

Merit: 61

Quote from: tmfp on September 10, 2019, 07:39:29 PM

Quote from: Paulo2 on September 10, 2019, 06:22:57 PM

They released a document saying it was an audit, but it's actually a "Previously Agreed Procedures" document.
It's in portuguese, but you can read here: https://www.criptofacil.com/exclusivo-entenda-mais-sobre-a-suposta-auditoria-feita-pela-atlas/

According to Google Translate, it reads in part

Quote

The procedures were applied with the sole purpose of validating the custody of cryptoactive in the crypto brokerage firms. The procedures were applied solely to assist you in assessing the appropriateness of crypto custody at crypto brokerage firms.

This suggests to me that they have confirmed the value of assets, i.e. the amount held in accounts on platforms, but not whether that covers the liabilities to investors, as that was not within the remit laid down by Atlas.
~$185m is a lot of moolah, but not if you have $200m to pay out.
Quite how this constitutes "a breakthrough", I don't understand.

In a "Previously Agreed Procedures" you detail to the company what it should do, but the company does not check if the page is true, for example.

This doc theoretically proved that they have enough to pay everyone with Bitcoins and stablecoins.

But a PAP doesn't check if the exchanges pages are true. They just logged in and looked at the balance that was written.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: Paulo2 on September 10, 2019, 06:22:57 PM

They released a document saying it was an audit, but it's actually a "Previously Agreed Procedures" document.
It's in portuguese, but you can read here: https://www.criptofacil.com/exclusivo-entenda-mais-sobre-a-suposta-auditoria-feita-pela-atlas/

According to Google Translate, it reads in part

Quote

The procedures were applied with the sole purpose of validating the custody of cryptoactive in the crypto brokerage firms. The procedures were applied solely to assist you in assessing the appropriateness of crypto custody at crypto brokerage firms.

This suggests to me that they have confirmed the value of assets, i.e. the amount held in accounts on platforms, but not whether that covers the liabilities to investors, as that was not within the remit laid down by Atlas.
~$185m is a lot of moolah, but not if you have $200m to pay out.
Quite how this constitutes "a breakthrough", I don't understand.

Paulo2

member

Activity: 286

Merit: 61

They released a document saying it was an audit, but it's actually a "Previously Agreed Procedures" document.
It's in portuguese, but you can read here: https://www.criptofacil.com/exclusivo-entenda-mais-sobre-a-suposta-auditoria-feita-pela-atlas/

TryNinja

legendary

Activity: 2758

Merit: 6830

Devil's advocate time...

Quote

Atlas Quantum would be delaying Bitcoin withdrawals from its customers.

That's probably because of the huge flow of withdrawals caused by the recent news.

Quote

The CVM has prohibited Atlas Quantum from offering securities or collective investment agreements. If the company does not comply with the decision of the agency, there will be a daily fine of $ 100,000.

I'm not an lawyer, but they publcily said CVM only prohibited them from keeping their huge advertising campaign working in Brazil. They stopped that and kept offering their arbitrage service, and so far, I don't see the CVM charging them R$ 100k (not $100k) per day (wouldn't they be allowed to charge if Atlas weren't allowed to keep their service and kept anyway?).

Quote

Moreover, according to the MP there was a suspicion of the company operating in the financial pyramid model . Specifically, there would be evidence that the algorithm used by the company to do arbitrage operations with cryptocurrencies does not exist.

And now this: https://portaldobitcoin.com/exclusivo-o-que-diz-o-relatorio-da-auditoria-sobre-a-atlas-quantum/

In the same webiste, a new story saying that they confirmed "Grant Thorton" audited their company and comproved it's legitimacy. BUT, they haven't released it yet, so... we can't know if that's true.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Just another scam with a Mystery Magic Money Making Machine.
Will people never learn?
Now entering meltdown/exit phase....

Quote

Atlas Quantum would be delaying Bitcoin withdrawals from its customers.

Quote

The CVM has prohibited Atlas Quantum from offering securities or collective investment agreements. If the company does not comply with the decision of the agency, there will be a daily fine of $ 100,000.

Quote

Moreover, according to the MP there was a suspicion of the company operating in the financial pyramid model . Specifically, there would be evidence that the algorithm used by the company to do arbitrage operations with cryptocurrencies does not exist.

https://www.sunoresearch.com.br/noticias/atlas-quantum-adia-saques-clientes-recamacoes-explodem/

impresionesmline

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Do you know another comparable services that do have more history than this one ?

Someone do use this service, so to give a review of how it does perform ?

TryNinja

legendary

Activity: 2758

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Quote from: Nadziratel on July 12, 2019, 03:22:14 AM

It is SCAM or not. But it is not subject of this board. You should move your topic altcoin discussion board. I am sure you can find good answer in there.

^ the above is old, but I only saw it now. Re: this isn't a shitcoin, it's a website/service.

Quote from: Slow death on July 25, 2019, 12:40:52 AM

if you are Brazilian citizen and if you decided to go to this site (something not recommended) then you need to see this:

https://www.youtube.com/watch?v=Qkkf6c_EKWE

and about what I said in the last post:

This only affects people that buy BTC on their other website (Atlas BTC) as they are registered on Brazil. If you want to "invest" in their "arbitrage bot", this law doesn't affect them (because apparently "Atlas Quantum" is registered in another country - maybe even to avoid the government from asking for proof about their profits).

Slow death

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Leading Crypto Sports Betting & Casino Platform

I see that you were not doing any post for many days:

Name: Robar1337
Posts: 2
Activity: 2
Merit: 0
Position: Newbie
Date Registered: July 12, 2019, 08:03:30 AM
Last Active: July 12, 2019, 03:46:38 PM

if you are Brazilian citizen and if you decided to go to this site (something not recommended) then you need to see this:

https://www.youtube.com/watch?v=Qkkf6c_EKWE

and about what I said in the last post:

Quote from: Slow death on July 15, 2019, 12:51:59 PM

The problem is that there is no external audit that confirms that they make arbitrage

they haven't done external auditing yet, from the comments I read on youtube, people are still waiting for them to post external auditing.

hugeblack

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Quote from: Robar1337 on July 12, 2019, 03:17:51 AM

They offer real high yearly return (+40-70%) which makes me sceptical.
What is your opinion?

Do not let greed blind your insight, the probability that the site is honest and pay (+40-70%) less than the possibility of losing your entire money.
Do not gamble into such methods. if you won once, you will lose many times & may lose at all opportunities.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: o_e_l_e_o on July 15, 2019, 01:47:31 PM

Quote from: Robar1337 on July 12, 2019, 03:17:51 AM

They offer real high yearly return (+40-70%)
Some say it is a fraud as the current website is only valid since 2018
I cannot find any official company registrations, address, licenses, etc.
They only provide contact details via phone.

You've already identified a number of red flags which should give you pause. If it were me, that would all be more than enough to convince me to stay well away. There are many reviews online of people saying that they deposited money and not only never received the ROI they were promised, but were also unable to withdraw their initial deposit.

Add all this to the fact that they have no external audit of their company or assets, so you have no idea what they are actually doing with your bitcoin. This seems like a front to a Ponzi scheme to me.

Seconded, they might show their faces, but it doesn't mean that they won't pull a exit scam. No external audit? damn, that is so scary if you're a investors. So yes, I will advise the OP as well to stay away and not lured by the so called huge returns, "if it's too good to be true then it probably is".

Just used Google, just try to search that services and a lot of scam reviews and accusations immediately pop-up, another indication that they are not to be trusted.

o_e_l_e_o

legendary

Activity: 2268

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Quote from: Robar1337 on July 12, 2019, 03:17:51 AM

They offer real high yearly return (+40-70%)
Some say it is a fraud as the current website is only valid since 2018
I cannot find any official company registrations, address, licenses, etc.
They only provide contact details via phone.

You've already identified a number of red flags which should give you pause. If it were me, that would all be more than enough to convince me to stay well away. There are many reviews online of people saying that they deposited money and not only never received the ROI they were promised, but were also unable to withdraw their initial deposit.

Add all this to the fact that they have no external audit of their company or assets, so you have no idea what they are actually doing with your bitcoin. This seems like a front to a Ponzi scheme to me.

harizen

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For support ➡️ help.bc.game

Quote from: Robar1337 on July 12, 2019, 03:17:51 AM

The only thing which makes me sceptical is that I cannot find any official company registrations, address, licenses, etc.
They only provide contact details via phone. To me this is not preifessional for a company like this which claims to be trustworthy, such big and wants to manage my money.

The fact that you ended up thinking of that after doing your self-research then obviously you must know what to do now - ignored them.

Since there are only a few good reviews available around then why still want to push for deeper investigation about their legitimacy.

Found other options instead. The one that is backed up by several genuine good feedbacks.

Slow death

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what I see is a Brazilian site and the team responsible for the site show their faces and post videos on youtube, if you speak Portuguese you can understand what they speak

https://www.youtube.com/channel/UCMaBkMLfXfkHxfZb2Ja29Yg/videos

The problem is that there is no external audit that confirms that they make arbitrage

odolvlobo

legendary

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If you have done arbitrage before, then you know what can and can't be done. If you are skeptical of their claims, then why consider it any further? Ponzi schemes based on bogus trading systems are very common. I have no doubt that it is a scam.

Robar1337

newbie

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... sry, that I did not choose the right Board.
However, it is not a altcoin topic. Which board would you recommend?

Nadziratel

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★777Coin.com★ Fun BTC Casino!

It is SCAM or not. But it is not subject of this board. You should move your topic altcoin discussion board. I am sure you can find good answer in there.

Robar1337

newbie

Activity: 2

Merit: 0

BTC

Hello community,

I want to use atlas quantum for bitcoin arbitrage. They offer real high yearly return (+40-70%) which makes me sceptical. However, in 2017 I did arbitrage myself and know that it works (however, nowadays a manual arbitrage is not feasible anymore).

I researched a lot online. Some say it is a fraud as the current website is only valid since 2018, although atlas quantum says it is in business since 2017. I checked that and as they changed websites this is no valid point for me. The Website quantum.atlasproj.com was already up and running in 2017.

The only thing which makes me sceptical is that I cannot find any official company registrations, address, licenses, etc.
They only provide contact details via phone. To me this is not preifessional for a company like this which claims to be trustworthy, such big and wants to manage my money.

What is your opinion?

Topic: Atlas Quantum - Scam or legitimate? (Read 294 times)