Gandalfs Scam Report Vol III: No Face No Case

I came across the platform bitniex.com. It claims to be a cryptocurrency exchange. The venue itself looked professionally done. I was looking for arbitrage opportunities on the internet, and I found a nice-looking bot in Telegram. I joined myself to channel, and about one hour after, it informed me that it had found a superior cross-exchange arbitrage position, a little over a 4.5% price difference. Trade was between Binance and a company called bitniex.com, an exchange platform, or so they advertised themselves. In any case, I went to their site and started to check it out.