Spain-based crypto Ponzi project, Arbicorp, suddenly froze more than 120,000 investors five days ago. It is known that they discovered a bug that caused one of the cryptocurrency trading bots to pay too much money. It’s worth mentioning that this bug has been around for a year, and Arbicorp has to pay 28% more profit than it was supposed to.
The bot bug caused Arbicorp to pay 28% more profit than the payout
However, despite suffering severe financial losses, Arbicorp’s executive team said they would continue to offer liquidity to investors for more than a month.
Arbicorp has boldly assured investors as follows:
“No one will lose, and if the investors who suffer want a lawsuit, they can still go ahead.”
However, in the same statement, Arbicorp also reminded investors of the terms and conditions of the investment agreement.
Part of the clause states:
“The client accepts that the use of our website or service is at own risk and responsibility. The client agrees that the said service is provided as explained depending on availability. The company does not guarantee that the service will be uninterrupted, safe or error-free; nor does it guarantee the results.”
Therefore, Arbicorp warns investors to choose the right path that:
“We will keep your payments until a judgment is made by the court.”
Meanwhile, despite this incident, the Arbicorp team looks like it persistently persuades some of the affected customers to continue investing with the company.
The management board “reminded” investors as follows:
“We remind everyone that Arbistar 2.0 still has 4 bots of Forex, 1 commodities bot, shortly one of crypto trading and the Personal Bot Pro of Cryptocurrency Arbitrage THAT ONLY KNOWS TO WIN and that in a few weeks it will enter phase 2 to 5,000 euros per year.”
Immediately after the announcement, some investors of Arbicorp expressed their frustration and complaints on Twitter.
In which, investor Diana Ruiz asked:
“Good afternoon, I want you to explain to me and I think we have that right to know what will happen with our investment, we are a family of brothers who invest all our capital in your company and we fully trust you, please we want the truth.”
Buenas tardes, quiero que por me expliquen y creo que tenemos ese derecho de saber que va a pasar con nuestra inversión, somos una familia de hermanos que invertimos todo nuestro capital en su empresa y confiamos plenamente en ustedes, por favor queremos la verdad.
— Diana Ruiz (@DianaRu70647282) September 13, 2020
Another investor, Jamerson Andres, said:
“As for me, I have an account for a year from which I have not withdrawn much and at this moment when I look at it I see a lower investment than the initial one.”
Meanwhile, Arbicorp requires investors – who are looking for information on the closure and liquidation of community bot accounts – to contact them immediately to clarify the reasons. I wonder what reason will Arbicorp publicize next and whether that reason will convince investors? Please wait and see!
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