How long would you guys suggest waiting before I report my BTC as stolen? The site has been down all week. I don't expect to get my BTC back if btc-arbs has officially skipped town, but I suspect I would need to file a police report or something regardless in order to include the loss on my tax return. (I'm in United States)

I just find this whole debacle to be so dumb, because you *could* make money with automated arbitrage trading if you're an above-average software developer willing to put in the time and energy (and able to obtain ample cash/btc of course). The site's creator(s) was/were good enough to make a nice looking site with a database of users, deposit/withdrawal functionality, etc.  ...they couldn't spend the extra time/energy to make a *real* arbitrage trading site instead of a *ponzi*?