Here is what the admin of Money-News-Online, the biggest ponzi pusher on the planet has to say:
BTCARBS – ON PROBLEM STATUS, NO FURTHER DEPOSITS ADVISED
The final piece of news for tonight is the unfortunate, but let’s be honest always inevitable conclusion of BTCArbs. While I know these things always happen eventually, there was no obvious indicator that BTCArbs would go so suddenly or under the circumstances that it has. There was a slowdown in activities over the Easter holiday weekend but that was fine, the admin kept us informed about that well in advance. It came as a complete surprise today that the program is quite clearly about to finish once and for all, especially as up until only yesterday, Monday, payments continued as normal. All that changed very suddenly today when the following update was sent, something bordering on the ridiculous in my own opinion and nothing short of bizarre. I’ll let you read it first before I tell you what I think of it myself, but the general gist of it is that BTCArbs has been taken over by somebody else (yeah, right!) and the current admin is no longer involved. And the new admin is going to do things differently, such as you know, possibly not paying you. I have to tell you though that personally my own deposit in BTCArbs was returned today without me ever actually asking for it and without the admin (whoever he may be!) contacting me. I can only assume in the absence of any formal communication that he doesn’t want me monitoring BTCArbs anymore and whatever stroke he’s planning to pull seems to prefer that I not be present to witness it or warn you about it. Please read the following update first:
(Here the MNO admin post the update from btc-arb website)
OK, so that there be NO misunderstanding here, BTCArbs has been moved to Problem Status on MNO, I suspect the admin will shortly be blaming/accusing me of trying to destroy the program and with it the accounts of the members, so I need to make this very clear to you all why I have done this. No matter what you hear from anybody else, BTCArbs is on Problem Status for this reason – there has been a fundamental change in the rules under which investors joined, and those investors were neither consulted nor warned about them before they were implemented. You could have joined BTCArbs as recently as this afternoon with the promise that you were free to withdraw your principal and leave at anytime, however this “promise” has now been withdrawn and your deposit is being held in limbo. The admin says this will be returned, but neglects to tell you when. Then again, HYIP admins say a lot of things. New deposits are naturally gratefully accepted, but tough luck if you thought the terms and conditions you joined under would actually be applied.
So it seems existing members deposits are to be frozen, pending some nonsense investigation which can last indefinitely. I admit my own deposit was returned, but this is now quite clear that as a monitor and basically a channel of communication between other members this was purely selective in order to take MNO out of the loop. Other members have not been so lucky and their deposits are being held while new money is still accepted. Believe what you like from the admin’s update/excuse, but the end result is the same – any further deposits in BTCArbs are not advised. I have of course contacted the admin, but he has yet to reply.
It happened in the lunch break at 12:30pm after discussions on the future of bitcoin.