Users report problems accessing their funds – DiarioBitcoin

Large number of users on X (Twitter) They warn about the suspension of operations of the supposed service while those responsible do not provide a satisfactory response to those affected. Community points out that this confirms the complaints of alleged fraud.

***

• A large number of users reported operational problems with Solesbot
• People claim they cannot access their accounts and there is no way to withdraw their capital
• Directors of Solesbot blame what happened to Binance and to other exchanges, which would have frozen funds
• Analysts warned about possible indicators of scam in the commercial offer of Solesbot

Solesbot, A project related to an alleged trading bot that offered returns for arbitrage operations, faced operational problems during the day of June 16 – 17, leading to a large number of complaints for alleged fraud and ongoing capital theft.

The operational problems of Solesbot

According to the first reports published on the social network (Twitter), Users reported that they had difficulties accessing their accounts and being able to request withdrawals of their capital. As the hours passed, the situation worsened, as did the website of Solesbot It was no longer operational and social media groups suspended interaction with those affected.

After the large number of complaints on networks, the CEO of Solesbot, Raúl Soles spoke on social networks and pointed out that the situation was due to operational problems related to Binance and other platforms, since the exchange would have frozen users’ assets due to a large number of mass withdrawals. He added that his legal team is in contact with representatives of the exchange platforms to achieve the unlocking of the assets.

In this regard, the user’s X account @RoamingVzla presented a chronicle of the events that occurred with Solesbot. It details that despite the statements made by the project team, the suspension of activities is plagued by a series of additional irregularities, such as the diversion of part of the funds to other projects, the absence of capital in known wallets, messages little enlightening in official channels and statements from leaders of referred groups ignoring the events that occurred.

As detailed @RoamingVzla, Currently, a group of users is considering taking legal action against Raúl Soles and the board of directors. Solesbot due to the irregularities that occurred. At the time of publication, users still do not see a solution to the issue of access to funds.

Scam indicators?

Although what happened with Solesbot In recent days, alarms have been raised about a possible scam in progress. For several weeks, members of the crypto community have been denouncing unclear aspects and worrying indicators in the commercial offer proposed by the project, among which stand out:

• To begin with, the company offered an alleged trading bot that carried out arbitrage operations with user funds, which would derive passive profits and a high fixed return on the investment.
• The platform invites the user to invest more capital to increase their profits. When withdrawing assets, they operate a system with which they delay operations as long as possible (for several days), requesting a percentage of the assets in case they want to speed up the process.
• Additionally, it offered a referral system, with which users could multiply profits based on the operations made by people under their respective links.

As data in Blockchain, the account of TikTok @Criptodemia published months ago a detailed analysis of the behavior of the accounts managed by Solesbot, detailing that a good part of the funds were directed to draining accounts, while a minimum portion of the assets were directed to distributing addresses, which were the ones that essentially paid the supposed profits to those who requested withdrawals.

Due to what happened, many people on social network Solesbot fell under its own weight. They assure that since it is a scheme with characteristics similar to ponzis (pyramids), an abrupt cessation of operations, blocking of withdrawals for users and the lack of a timely response to the alleged irregularities was to be expected.

This is a developing story, so we will be posting updates as there is news about the case.

Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.