Look like arbitraging.co ARB tokens platform pinned a message on the official telegram chat group of arbitraging.co, that they will shut down the platform for two days based on the message below.
Currently all the open orders in the platform had been cancelled, some if not all users had their open orders mostly sell arb to eth had been cancelled. Some stay up very late, some spent hours sitting waiting for the blocks to change color so they can get in the block to sell their arb, even if they got in to sell, most likely their order get cancelled at a later time and even a day later to find out it got cancelled for no known official problem or issue. Some wasted many hours to sell their arb waiting for the block to change to allow them to put in their orders but either they a message such as 0 remaining, block filled full, block does not exist, and even if their order said “order placed” they still see the open order listed in the order history. So as you can see the users have the right to be upset. But, there are just a small handful of people was able to sell their arb to ethereum but very few lucky one though for much much small volume like 1 arb.
arbitraging.co telegram group, be careful in there because there are a few things to keep in mind. (1) There are lots of scammers waiting for their next victims and it could be you, they simply message you pretend to be admin at the right time trying to resolve your issue, or those scammer simply pretend to be some pretty cute bimbo girl and try to get you send them some money. (2) when chatting or whatever you type it better be positive, if not you will get muted then banned. Those admins in the chat group most are not arbitraging.co staff but investors like us but they have direct contact with some of the dev team. However there are a few admins in there are indeed the dev team or the staff of arbitraging.co being anonymous.
Once again, the owner or ceo being transparent as arbitraging.co, does not mean that they’re totally legitimate. Being as transparent as arbitraging.co CEO owner simply mean that they will get more people to believe in them, more investors, more longevity than the others like novachain. Novachain have no ceo or owner that would show their face thus their investors users are a lot less than arbitraging.co. However those owners or ceo can disappear at anytime if they want to, sure you can file report or report to police authority, but chances are very little chance that the authority will look into it let alone really work on it because we’re not dealing fiat currencies. One day if arbitraging.co decided to exit scam they will start pretend to have issue, slow paying, paying super slow to none giving excuses of cannot pay due to maintenance, being hacked so on and so forth. Basically they accept incoming deposit investments investing from new users, but the older users get paid selectively or at some point they even manage each individual account who to pay and who not to pay. Mostly the one that got paid are the one that have positive comments and publicly talk about arbitraging.co in positive way like in youtube, reddit, bitcointalk and so on, those people will get paid, and the rest will get nothing.
So the positive side of being in arbitraging.co for most users according to telegram chat group feedback and comments, this ARB platform is more reliable and more transparency than the other, at least many think it will last a lot longer. The users still have hope that things will get better, they can only hope. However the owner or ceo named David Peterson said things will get better, but he had been saying that since the first there was issue, things never got better, it worst and worst, but they kept saying they’re working on it and will fix all problems, I think that’s a very optimistic thing to say.
As more and more people having issues with this platform and they’re trying their best not to be negative as it will effect new investors not going to invest and it will hurt the arb platform not being able to pay because they don’t have new money flowing in to pay. Now some may think that ARB does not need new investors because ARB is arbitraging, according to the comments on the internet about arbitraging.co there isn’t any proof at all that arbitraging.co is doing any arbitrage trading, when asked, they said it’s proprietary or want to make it private because they don’t want other platform to copy their strategy. What about the mBot? has many people been profiting from mBot? – there isn’t much proof either. However some believe said, give it some time, for how long no one really know.
So how to make arbitraging.co work? – the correct approach as many thinks are: (1) ARB should have better communication via email, not just chat room group telegram or discord, because not too many people are on those chat room, at least they check email. (2) Communicate with users when there are issues problem arise give them a heads up before bringing the system down or making changes. (3) Be professional if you call yourself professional but the ones who are supporting the platform are cussing and wearing more and more each day. So far none of the above three were met, as it turning toward being more of a high yield investment program (hyip) rather than a real arbitraging professionals program. Just to reitterate hyip exit scam, it is matching of what arbitraging.co is doing right now, lack of communication, making changes without users prior knowledge, making hard or next to impossible to withdraw profits, these are telltale signs of a hyip failure going to happen soon, they’re just stretching the time to exit so that they can buy ticket to leave the country or disappear somewhere where no one will be able to find them for a very long time with money stolen from users. Well, let’s hope arbitraging.co is not one of them, as many users are hoping.
Let’s hope arbitraging.co not going to collapse so soon. If they are really arbitraging then don’t really need new investors, now if there are sign that they need new investors then most likely they’re not arbitraging or their arbitraging strategy no longer work, and they’re not making any money so they will fail. Let’s hope arbitraging.co stay in business longer as many investors are now hoping for, as nothing else they can do but hope and stay positive. For how long? who knows.
Dear users, we would like to notify you that we will be taking the exchange offline shortly. Major updates and fixes are coming to ensure stability of the system and trading conditions. We have a string of updates to perform and they are best done with the exchange offline.
The downtime is expected to be approximately 48 hours. This will allow our community to have time to enjoy the holiday while we work on the updates.
Thank you for your patience and Merry Christmas !