ArbiSmart Looking Back: Estonian Licence Revoked, Websites Blocked in Italy

Update 25 September 2026: This article was first published in 2021 as a sponsored post and presented ArbiSmart as an EU-regulated, low-risk arbitrage platform. That picture no longer holds. Estonia's Financial Intelligence Unit revoked the licence of ArbiSmart OÜ on 15 November 2021, investors have reported since early 2022 that withdrawals are not being paid out, and on 30 April 2025 Italy's market regulator Consob ordered the websites arbismart.com and dashboard.arbismart.com to be blocked. We have removed the promotional claims and replaced them with the facts below.

What happened to ArbiSmart?

ArbiSmart advertised a platform that pooled investors' deposits and generated returns from crypto arbitrage, the practice of buying an asset on one exchange and selling it at a higher price on another. The company also sold its own token, RBIS, and promised high returns on deposits. These are the documented developments since the original article:

• Licence revoked in Estonia: The list of revoked licences of the Estonian Financial Intelligence Unit shows that the virtual currency licence FVT000353 of ArbiSmart OÜ was revoked on 15 November 2021. The original version of this article had called ArbiSmart "EU-regulated"; that was based on this licence.
• Withdrawals stuck since 2022: According to an investigation by the journalism network VSquare, investors reported from January 2022 onward that ArbiSmart did not pay out their deposits and returns in full, and the promised buyback of the RBIS token did not happen. In February 2022, ArbiSmart announced a move to Lithuania. The Lithuanian Financial Crime Investigation Service told VSquare that it does not issue licences or authorisations of the kind ArbiSmart claimed. ArbiSmart did not respond to VSquare's request for comment.
• Websites blocked in Italy: With resolution no. 23540 of 30 April 2025, published on 2 May 2025, Consob ordered the blocking of arbismart.com and dashboard.arbismart.com operated by Arbismart UAB, because crypto-asset services were being offered to Italian investors without the authorisation required under the EU's MiCA regulation.

Anyone who still holds a balance with ArbiSmart should keep all account statements and correspondence and contact the police or the financial regulator in their country. Our guide explains what to do when a crypto provider stops withdrawals.

What is crypto arbitrage?

When we talk about financial markets, we talk about a marketplace where buyers and sellers post their desired prices. When there are many marketplaces, those prices differ, creating arbitrage opportunities. Arbitrage is the activity of buying an asset on one marketplace at a lower price and selling it on another at a higher price to benefit from price differences.

In theory, anyone can do this. In practice, price gaps between large crypto exchanges are small and close within seconds, fees and transfer times eat into the margin, and professional trading firms with fast infrastructure capture most of the opportunities. That is why steady, high returns from arbitrage are rare, even for specialists.

Which warning signs should investors look for?

The ArbiSmart case shows a pattern that regulators warn about again and again. Be cautious when a platform:

• promises fixed or unusually high returns with little or no risk,
• pays returns mainly in its own token, which can only be sold on the platform or in limited amounts,
• advertises a licence that you cannot find in the regulator's public register,
• delays withdrawals or asks for new deposits before paying out.

Since the MiCA regulation took full effect, crypto-asset service providers in the EU need an authorisation that can be checked in the public register of the European Securities and Markets Authority. How to check a provider is explained in our guide to the EU warning list and the ESMA register, and our checklist shows how to check a crypto project before buying. If you are looking for regulated ways to earn interest on crypto, read our overview of crypto lending, interest, risks and tax.

Conclusion

The 2021 sponsored post described ArbiSmart the way the company presented itself. Today, the licence it relied on is gone, investors report that they cannot get their money back, and an EU regulator has blocked its websites. The lesson goes beyond one company: a promise of high, low-risk returns from arbitrage is a reason to check the regulator's register before depositing a single euro.

FAQ

Is ArbiSmart licensed?

No. The Estonian Financial Intelligence Unit revoked the licence of ArbiSmart OÜ on 15 November 2021, and Consob ordered the blocking of ArbiSmart's websites in Italy on 30 April 2025 because it lacked the required MiCA authorisation.

Can I withdraw my money from ArbiSmart?

Investors have reported since early 2022 that withdrawals are not being paid out. Keep your records and contact the police or your national financial regulator.

What was the RBIS token?

RBIS was ArbiSmart's own token, which investors were encouraged to buy with the promise of a later buyback at a higher price. According to VSquare, the buyback did not take place.

Is crypto arbitrage profitable for small investors?

Rarely. Price gaps between large exchanges are small and short-lived, and fees and transfer times reduce the margin. Platforms that promise steady high returns from arbitrage deserve particular caution.