Since December 10th 2018 when arbitraging.co said they’re working on ways to minimize or prevent under-cutter, those people that want to sell their order quick by setting or set limit to sell sell price lowest to be first in line. So arbitraging.co came up with fees, big fees for selling price below the market price. Apparently since then arb platform have not been doing so well, more and more negatives comments and and feedback flooded the internet and social media in general.
Since December 10th 2018, most investors cannot sell their daily profit, some was able to sell but limit on how much they can sell and as time goes by arb platform even make it harder for people to withdraw or sell their profit to ETH. A few believers in telegram group chat, still believe in the program as of this day, almost 3 weeks already, these believers are appears to be the admins or have some connection with the platform, for some others just pretending to believe because they don’t want to loose their money already stuck in the arb platform and cannot be withdraw, it is locked and nothing they can do about it.
Since December 10th 2018, promise after promise of making the platform arb better and even released the improvements saying it’s better and even demo it on youtube and so on, but at the end it’s nothing other than restricting investors to do the most important thing that need to be done, withdraw or sell their profit, still almost three weeks as of today, still problems and issues, next to impossible for average users to go in and withdraw profit. On top of that the arbitraging.co arb platform had been shut down for three days and counting, prevent any withdrawal at all, no one can withdraw, and the reasons given were they’re updating, upgrading, you will love the new update, it will work better sustainable for years to come. Well, many people still have doubt, because investors have not seen the finished products and based on the 3 weeks of failure arb token failed to deliver, can investors trust the arbitraging.co arb platform any longer? or is it now clearly tied to ponzi scheme, had been a ponzi scam since day 1?
What could arbitraging.co arb token platform done better? – most likely communication, and then make sure the update or whatever they’re doing is done in the background while letting investors to continue their withdraw profit daily, meaning that all investors had money or arb tokens in their abot and generating daily profit, let those investors to continue withdrawal, and still allow newer investors as many think this platform is not doing arbitraging.co as they say, they profit and sustain the program by needing of new investors put money in. If no more new investors they will run out of money to pay, and eventually fail. However when they know they will fail, they will try last few attempts to get more investors by increasing the profit daily or promise of certain bonuses while working on their exit scam strategy, and believe me I have seen it done before as they will keep the existing investors interested even existing investors not getting paid, and get new investors to invest. At the end the owner/operators start to pack up and disappear and not a damn thing anyone can do about it, they’ll be long gone even if you report to police and authority not easy to track.
The reason for police or authority cannot track these ponzi scammers is basically we’re dealing with non-related fait currency, it’s not paper money, it’s not check cash, it’s not bank money transfer, but rather cryptocurrencies in this case with arbitraging.co it’s ethereum and arb token. The domain, website and hosting server can have fake owner, there is no requirement for ID check. For arbitraging.co the staff members had been taken down months ago no longer exist of who are the owner and staff, even if it’s still there, it can be fake. Even the owner show their face on youtube social media, in person representing the platform still he/she can fake. Example the guys name David Peterson, how can you tell he is real, how can you tell the tattoo is real, he could disappear and change his appearance by removing the fake neck tattoo, and the house and family he said he stay with, could be fake or under someone else’s name or renting with fake information. So be careful guys, read about how ponzi scheme work and see if you can connect arbitraging.co and novachain.cc and many others to a ponzi scam. You can still invest but know how much you can loose and when they show sign of exit scam, immediate withdraw and never look back, get into new one and try to do the same, knowing that it will not died or lock up your initial investment or capital.