Detail Analysis
Date:
Status:
Incident Count:
September 16, 2020
Verified
1
Contributor:
zerofriction.io
KYC By:
KYC:
None
Audit By:
Audits:
None
Loss Amount:
120,000,000
Recovered Amount:
-
Currency:
Dollars
Key Indicators
Platform:
Type:
Category:
Method:
Data Sources:
Investment
Scams
Extended Method:
Ponzi scheme
According to Spanish prosecutors, they are investigating Arbistar's alleged manipulation of a Bitcoin trading scam. The disappearance of investor funds has affected 32,000 households who cannot use their savings invested in Bitcoin trading platform Arbistar. Earlier, it was reported that crypto company Arbistar announced that it would close a trading tool called Community Bot. The operator said that all funds on the platform are currently frozen and prevent users from withdrawing funds. Allegedly, the amount stolen may exceed 100 million euros (120 million U.S. dollars), which may be the “largest scam in Spain” related to cryptocurrencies.
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