Overview of Arbicorp Review
Broker Arbicorp is operational from Spain that has a speciality in cryptocurrency trading and exchange. It provides all of its services on a self-developed Arbistar trading platform. An electronic wallet to safely store crypto coins is also provided. The broker claims to generate high Return On Investments of 1% on daily basis. It claims to provide its unique services and strategies of high ROI to over 120K happy traders. Nevertheless, the scammed all its customers and a total valuation of scam comes out to be $1.07 billion. This Arbicorp review will give all the necessary information about it. Read full Arbicorp review here.
A Spanish national named Fanti Fuentes acts as a Chief Executive Officer of trademark Arbicorp. He has designed an MLM Ponzi scheme that promised high Return On Investments to its clients. As said earlier the broker claims 1% of daily returns. Nonetheless, how it is achieved is a mystery.
The scam started in September 2020 as broker denied access to over thirty thousand traders trading with Arbicorp. Ultimately Arbicorp denied all of its 120K traders trading with it. All the funds of traders were frozen that comes around $ 1 billion. The reason for denied access was given and the broker said that it’s trading platform Arbistar 2.0 developed functional error that affected automatic trading bots. It resulted in blockage of all the trading accounts.
On the allegation of scam, the Chief Executive Officer of Arbicorp, Fanti Fuentes was arrested, also it’s resident and offices were raided. The broker has promised to return all the investments made by traders. But to date, it is not done. The cryptocurrency trading is a new arena in the trading market. It is mostly unregulated. The governments that provide trading facilities are formulating a framework to regulate cryptocurrency trade. Scam brokers around the world are trying to make frauds using this loophole.
All the happy customers of Arbicorp, total 120000, have filed a complaint against it.
Also, many financial regulators are issuing a scam warning against Arbicorp. Furthermore, netizens are trading several hashtags to educate potential victims of Arbicorp on social media.
Is Arbicorp scam or legit?
Arbicorp operates from Spain without proper license and regulation. It is making its appearance in NEWS for all the wrong reasons. It has duped 120000 traders for $1 billion. The CEO of Arbicorp is under Jurisdiction Custody of Sapin. All of this makes Arbicorp a potential scam broker 2020.