Spain: Some 120,000 BTC at Stake After Crypto Trading Bot Arbistar 2.0 Reportedly Glitches.
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Investors in Spain are left scratching their heads following the disappearance of about 120,000 BTC they invested in the crypto trading bot of Tenerife-based company Arbistar 2.0.
According to Tulip Research, the amount of BTC at stake is worth €850 million (appr $989 million). This was a total investment from about 32,000 families.
The report further revealed that the company promised a daily return of 1% to anyone who invested at least €3,000 worth of Bitcoin in its trading bot. However, investors never received the profits as payments were suspended for some “Bitcoin Mismatch” issues.
This led to several accusations of fraud on social media platforms, and the judicial authorities in the Canary Islands have started to process the complaints against the company.
Santiago Fuentes, the CEO of Arbistar, said he understands that investors are scared as they have been visiting his house in Tenerife to claim their funds.
However, the company has said it will refund investors’ deposits through a restructuring of accounts’ settlement to make it less traumatic and as early as possible.
According to Tulip Research, the amount of BTC at stake is worth €850 million (appr $989 million). This was a total investment from about 32,000 families.
The report further revealed that the company promised a daily return of 1% to anyone who invested at least €3,000 worth of Bitcoin in its trading bot. However, investors never received the profits as payments were suspended for some “Bitcoin Mismatch” issues.
This led to several accusations of fraud on social media platforms, and the judicial authorities in the Canary Islands have started to process the complaints against the company.
Santiago Fuentes, the CEO of Arbistar, said he understands that investors are scared as they have been visiting his house in Tenerife to claim their funds.
However, the company has said it will refund investors’ deposits through a restructuring of accounts’ settlement to make it less traumatic and as early as possible.
120,000 of BTC suddenly disappeared? Lol, look at that excuse and it seems that the fault in on the investors that's why they are restructuring the accounts. And for sure, it already collapses, and Fuentes is just trying to hide and blame to the bot, typical excuse for a scammer.
