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Topic
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MyArbit.com has proven to be a deceptive platform, disguising itself as a lucrative crypto investment opportunity. Promising unrealistically high returns, it lured investors, including myself, into its schemes, resulting in significant financial loss. Here’s a detailed breakdown of my experience and findings
Investment Tiers with Unrealistic Returns
MyArbit.com claimed to offer several investment tiers, each with progressively outrageous return rates:
- Silver Elite: 10 Days, 2.25% – 2.75% return
- Gold Elite: 30 Days, 8.10% – 9.90% return
- Platinum Elite: 60 Days, 18.00% – 22.00% return
- Titanium Elite: 90 Days, 29.70%-36.30% Return
- Diamond Elite: 180 Days, 63.00% – 77.00% return
Such exaggerated promises of investment returns are a major red flag, as they exceed realistic expectations and align with typical scam patterns.
Financial Loss Details
I invested a total of $100,600 in MyArbit.com across multiple transactions. Below is a summary of these transactions:
- August 6, 2024: USDT, 50,499, Wallet Address: TEQ4BjfDgjHA96FJc28z2H1DBnKLbqJMs2
- August 14, 2024: USDT, 29,999, Wallet Address: TEQ4BjfDgjHA96FJc28z2H1DBnKLbqJMs2
- October 3, 2024: USDT, 20,000, Wallet Address: TEQ4BjfDgjHA96FJc28z2H1DBnKLbqJMs2
Analysis and Conclusion
The promised returns by MyArbit.com were nothing more than bait to attract unsuspecting investors. The structure, offering up to 77% returns within six months, was unrealistic and indicative of a Ponzi scheme. With the transactions detailed above, it’s evident that MyArbit.com is fraudulent and should be avoided at all costs.
Investors should remain vigilant and conduct thorough due diligence before committing to any investment platform that promises exceptionally high returns. Platforms like MyArbit.com exploit this trust, leading to significant financial distress.
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If you’ve interacted with myarbit.com, you should be cautious. This platform is linked to a cryptocurrency scam where victims transfer funds in USDT (Tron network) only to face sudden account freezes. The scammers claimed a new KYC system was in place, but they never returned the funds, even after the documents were submitted. Cash-outs were tracked to Binance, OKX, and Cobo/Deepcoin, but the exchanges required court orders or police requests to assist further.
The fraud began with false trust-building. One victim withdrew $10,000 successfully before their remaining funds, totaling $100,000, were frozen. The scammers used excuses like “government verification” to stall. They even involved the domain registrar, eNom, which refused to release data without a subpoena. Attempts to pursue recovery hit roadblocks when Turkish law enforcement refused to cooperate due to jurisdiction issues.
We worked on this case by tracing the cryptocurrency and preparing detailed reports for law enforcement. Unfortunately, the lack of international cooperation and legal hurdles made progress difficult. This highlights the challenges of recovering funds from such scams.
Myarbit.com used deceptive practices to defraud victims. Always verify the platform’s legitimacy first if you’re considering an investment. We can confirm this is a scam, and you should avoid this site. Let’s stop them from taking more victims. If you need help, don’t hesitate to reach out.
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On November 15, 2024, we received a complaint involving a cryptocurrency scam that resulted in a loss of $100,600. The victim explained that the scam was carried out using cryptocurrency, with the last transfer taking place a few months ago. The scammer used the blockchain address TEQ4BjfDgjHA96FJc28z2H1DBnKLbqJMs2 (TRX) and operated through the website myarbit.com.
The victim’s report highlights the significant financial loss they suffered and provides key details that may help identify the perpetrators.
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