The Prosecutor’s Office has opened proceedings against the cryptocurrency purchase and sale platform Arbistar for an alleged scam that ranges between 100 and 850 million euros, according to the first investigations. More of 32,000 families cannot access savings in the form of bitcoins that they had deposited in products of the firm Arbistar 2.0, with tax headquarters in Tenerife, in a situation that affects at least investments worth 93.4 million euros, according to the company itself.
The case is already in the hands of the Police in Tenerife, which has confirmed that there is a open investigation about that company and the destination of the money deposited by its investors, but without providing even more data, because it ensures that the actions are secret.
Several affected by the blocking of their investments in bitcoins already speak of a alleged pyramid scam and a company specialized in fraudulent operations, Tulip Research, figures the volume allegedly affected at about 850 million euros, although subsequent evaluations have lowered this amount to about 100 million.
“This is not a pyramid scam, or a Ponzi, or any story”, defends the director of Arbistar 2.0, Santiago Fuentes, in a statement made by videoconference to Televisión Canaria, “it is just a computer error that we have to settle, liquidate and continue with our companiesFuentes was prosecuted for the scam of the so-called Spanish Madoff, Germán Cardona Soler, but was acquitted in 2017.
The owner of the platform confirms that “there are 32,000 families affected” and insists that it is a “computer error”, but defends that at no time have they tried to “close and disappear”.
As for the volume of money involved, he argues that it does not reach “not even a tenth” of what is speculated by some of those affected. But it does put a figure “it could be around 10,000 bitcoins”, which translated into euros, according to the price of that virtual currency, supposes 93.4 million euros.
Arbistar 2.0 ensures that this week it will launch a platform to facilitate those affected to recover their investment “in six or twelve months”.
“At the very least, everyone is going to recover what they contributed,” promises the company’s founder, who assures that he has not left Tenerife, but prefers not to reveal where he is, for security reasons.