In this review we expose the fake arbitrage of the cryptocurrency ATA that is supposed to make you around 18% per round turn.
What is Automata abritrage
On different social media platforms such as YouTube or Telegram you can find guides that explain how to make money in arbitrage trading the crypto token ATA from the Automata network.
The process is pretty simple, on the Automata website you supposedly can buy the ATA token cheaper (18% cheaper) that what is being sold on main exchanges. So you buy it there and sell it for example on Binance.
For this, they ask you to install Trustwallet and to pay for the ATA token directly on the Automata website. The tokens will then supposedly arrive to your Trustwallet, so you will be able to send them to Binance, sell them there with profit and repeat the whole process until… forever?
But can you really make money in arbitraging Automata this way?
Automata (ATA) arbitrage scam
When you first check the described ATA Network arbitrage opportunity, it looks very real. On the website you can connect your Trustwallet and the asked price really is about 18% lower than what you will find on Binance or other exchanges.
So it is seems very possible to buy the ATA token for cheaper, send it to Binance, sell there for a higher price, withdraw your USDT to your Trustwallet and repeat the whole process to make money over and over again. It looks like a money printer.
However, there is a huge problem. The advertised website that you are supposed to buy ATA for cheaper is fake. The only official website of Automata Network is ata.network and it does not sell any tokens.
All other Automata Network websites are scams that want to steal your money. And there are many of them, as some are getting shut down thanks to complaints, new ones pop up and new promotional materials are created along with them.
And there are clones like the Ankr arbitrage scam.
To make it clear, the Automata Network is not selling any tokens on its official website, let alone 18% under the market price. If it was doing that, it would drive the price of the token to zero.
All seemingly official Automata Network websites that are selling the ATA token directly are scams and you have to stay away from them.
How the arbitrage scam works
The ATA arbitrage scam is very simple. Fraudsters created websites similar to the official one and they say they will sell you the Automata token for cheaper.
The caveat is that you have to send them the payment first, either in BNB, BTC, BUSD od USDT. So you will indicate how many ATA tokens you want to buy and they will tell you how much you have to pay.
They will ask you to send that amount in BNB, USDT, BUSD or BTC to a given address from your Trustwallet or other crypto wallet.
Once you send them the payment, it will be over, you won’t get the ATA tokens you paid for to your wallet. Nor anything else. You will just lose the tokens you send them as your payment.
So you will essentially be sending money to scammers and you won’t get anything back. As simple as that.
It is the usual trick, scammers abuse something that really exists, in this case arbitrage trading, so that they can steal your money.
But in this case it is not easy to see through their dirty tricks, because as we said, arbitrages are a real thing. However, there are never endless 18% windows, as you can probably imagine.
Because if this ATA arbitrage opportunity was real, either it would disappear very quickly or people would keep trading it until the token is worthless.
In the first case people would jump on it and quickly equalize the prices between exchanges and the Automata website.
In the second case, if for whatever reason Automata would want to keep the ATA price 18% below the market all the time, then people trading the arbitrage would quickly drive the price to zero as they would be selling it on exchanges, which would push the price lower, which in turn would force Automata to lower their selling price.
As you can see, it just can’t work for a long time. And this is the case with all arbitrage opportunities, people jump on them very quickly which leads to a rapid equalisation of prices for the concerned asset on all exchanges.
ATA arbitrage review – Conclusion
The heavily promoted Automata Network (ATA) arbitrage opportunity with an 18% profit per round turn is a scam that will make you send money to scammers who won’t send you anything back. Stay away from it.
Real arbitrage opportunities are most of the times much smaller and disappear pretty quickly.
There are tools that monitor arbitrage opportunities on different exchanges like KoinKnight that you can try for free and see for yourself what the real possibilities are.
But please, beware, arbitrage trading is not as easy as it might seem. If you want to try it, be sure to understand all the risks and possible obstacles.