Arbitragecoins.com is a faceless group of online scammers who deceive their victims with a fictitious crypto bot that claims to return 1% profit to its investors as USI Tech also announces.
I was hoodwinked into investing with this platform by a post in Ether Delta about four months ago.
I had some issues with Ether Delta and a contributor offered to give a suggestion and posted a link to Arbitrage coins.
Out of curiosity, I followed the link to know more about the site and what they do.
On the site, on the chat column, I was greeted by a rather elated chat attendant who enumerated the benefits of using their platform.
I was still new to cryptos, and having been concerned at the volatile nature of the market decided to give a go to the so called arbitrage coins platform.
After I had deposited about 2.227Eths to the platform, I had a sudden buyer’s remorse feeling; that I might have really overlooked something, an important aspect of the bargain. I.e. to know who really these guys were their true identity, where they were operating from, their affiliates and business registration.
To my surprise, their “about us” page gives no clue as to who they were; their “contact us” page was vague with no contact information other than a webpage form, which I later found out was not working. There were no telephone numbers to contact them with, nor twitter or telegram handles. I became sceptical, and the natural instinct was to withdraw the funds as quickly as possible before anything else could happen. That was when the whole thing started unfolding, they would not allow me to withdraw a dime. My withdrawal requests met a brick pending wall.
I contacted them through the chat outlet, I was told that I needed to submit my personal identification details before I could make a withdrawal.
I said wait a minute, who are these faceless people asking me for my ID? What do they want to use my ID for? They do not have identity, it would be suicidal for one to give out your personal information to such a group when you do not know who they are.
Your details may end up in the registration list of outlawed criminal gangs and organisation. I asked them to reveal their identity to me, the chat man said they were from Malta. After, I insisted on having my funds back, by November last year, they said they were having 2FA being put in place and that after that I could withdraw my funds.
I waited till January 2018, got the 2FA sorted out, then was very eager to withdraw my funds and there I went and hit the withdrawal button and the almighty “pending withdrawal” wall resurfaced. And it has been standing tall like the wall of Jericho of old up till this moment.
I understand others have been so similarly treated. And I also now understand the fraudsters are from India.
They still operate, their website arbitragecoins.com is still online, and attracting more victims. They now have a funny YouTube channels also advertising their poisonous scam.
https://www.youtube.com/watch?v=LR7aBoZMkZM.
How do the cyberspace bring these scammers to book as I write? Would they continue to scam forever?
