We received multiple scam reports of a likely 3000 BTC ponzi exit in South Africa yesterday. Jonathan Weltman, founder of arbX Digital (@arbXdigital), informed his investors he lost all funds via email a few days after the twittersphere erupted with complaints about no redemptions or communications.
From one informant.
arbX ran a crypto fund doing mostly arbitrage. Just a few days ago the founder sent out emails to all investors explaining how he has lost all funds
, but through talking to him it became quite obvious that this was most likely a ponzi to begin with and no investor has seen evidence that real trading ever happened. The fund was run by Jonathan Weltman from South Africa (identity verified), operations started in 2015 and reached a size of 3000 BTC. Shares were first traded directly with arbX (I guess, not sure on that one), later on it was all moved to coinprism and finally to BTCPop.
The investors have started a closed Facebook group… this is the best source of information on the scam. We’ve started to trace money on the blockchain and through your website were able to link arbX with other HYIP sites
The group is seeking a lawyer in South Africa to represent investors in this case. Contact us if you are interested in getting involved.
Reported arbX Digital Scam Addresses
1EhNMgVK8RH82SLdF5yCUasRrahQ3gwnb8
3BMEXYZvTYYU6d9MzG4BEC7YSXZcVkv3fB
19LfoZoYc2ZkbirzGYkcDekYQSCMDrMgoS
12YUzZkkRrJmm8wkJLbSntcstExfAFgcFP
1NaTvPWxM7MTBvq92i4qh3xmWrsZXG2C4n
13jd8QfScDtnJt1rjmtnkBT4D1ZRsv6LZJ
1DTG2r4PGQ52DV5rYBdGLRk7Pw3icPrLzY
If you have further details about this scam please share in the comments or contact us.