Update: Turns out compelling evidence against the Arise team exists. The court case will probably last forever. I still remain on the fence whether this is a scam or not, as I've seen second hand what a determined government with unlimited resources is capable of orchestrating.
Official Government Documentation on the Arise Bank Raid was released in their Telegram chat earlier today. It included a 15 page document issued by the SEC. I will not risk sharing it due to legalities, but it appeared to be legit (oozing of bureaucracy).
Just hours later, CNBC is out with their own article confirming the official Arise Bank story.
This is both good and bad news for everyone in the crypto space. The good news is that David has risen to the test against Goliath, and the first project to challenge the banks legally turns out to be legitimate. The supporters are coming together in the Arise Telegram chat, as the official home page still remains offline after being taken down by authorities.
The community have collected upwards of $1.000.000 earmarked for Arise’s defence. One may speculate in why the ICO funds were not managed in a way that would secured some funding to be used if/when this would happen (it was pretty obvious something like this were to happen at some point). I expect there to be a reason for all of this. Time will tell....
The bad news is that this fight has already gotten bloody, and both contenders have yet to enter the ring... The government and the banking industry are coming down upon Arise Bank with great vengeance and furious anger, and one can only hope the Arise team have wrapped their hands and sealed their gloves tight, because this is going to be one hell of a fight!
@holoz0r