An alleged Spanish crypto Ponzi scheme abruptly froze the accounts of more than 120,000 investors after discovering an error with a trading bot.
According to a report by Bitcoin.com, the Spain-based crypto Ponzi scheme Arbicorp froze the accounts of more than 120,000 investors on September 12 following the discovery of a trading bot error that led to overpayments being issued for more than a month.
Arbicorp released a statement assuring investors that “no one will lose” funds and suggested that aggrieved investors could pursue legal action over the abrupt freezing of accounts.
However, the organization also reminded users of their terms and conditions agreement, which includes the following,
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.
Despite the assurances, investors bombarded the Arbistar Twitter account with inquiries about the state of their funds.
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