Bora Band News Today: In our earlier Bora Band review, we strongly advised people to steer clear of this elaborate scam masquerading as a Ponzi scheme, as it had the potential to collapse at any moment.
Unfortunately, our concerns have now become a reality, as the Bora Band Ponzi scheme has collapsed.
In this article, we will provide you with Bora Band news and offer helpful guidance on the Bora Band withdrawal update.
Bora Band Scam Collapse
The Bora trading app emerged on the scene promising lucrative returns on investments, luring individuals with the prospect of doubling their money within 40 days.
The app gained popularity through aggressive marketing campaigns, catching the attention of people from social media and offline activities.
However, Bora Band has shattered the dreams of countless investors, after collapsing around 30 June 2023.
Bora.band website is still accessible and there is a notice on the website stating:
Dear BORA user: BORA’s preliminary review estimate has reached a valuation of 4.2 times. In view of BORA’s operating conditions and platform asset review requirements, BORA must be listed on the platform currency, and the final valuation will be based on the market value of the platform currency. At the request of the institution, BORA will list the platform currency BORA Token (BRA), and start a new subscription on 2023/07/04. For more information, please pay attention to the BORA Token (BRA) new coin listing announcement The price of BORA Token (BRA) rose to 7.5 USDT, obtaining a 5-fold valuation The price of BORA Token (BRA) rises to 15 USDT, gaining 10 times the valuation The price of BORA Token (BRA) rises to 30 USDT, gaining 20 times the valuation The BORA exchange can get invitations from world-renowned institutions for mergers and acquisitions, which is inseparable from the support of a large number of users and trading volume. Giving rewards and resuming withdrawals after the merger closes. Valuation premium feedback: The price of BORA Token (BRA) rises to 7.5 USDT, gets 5 times the valuation, and gives 25% as a gift The price of BORA Token (BRA) rose to 15 USDT, 10 times the valuation, and 30% as a gift BORA Token (BRA) price rises to 30 USDT, 20 times valuation, 60% gift For example: The price of BORA Token (BRA) rose to 7.5 USDT, which was valued at 5 times. Holding 10,000 BRA will give you 25% of 2,500 BRA as a gift. After the gift is completed, the total holdings will be 12,500 BRA! The price of BORA Token (BRA) has risen to 15 USDT, which has been valued at 10 times. Holding 10,000 BRA will give you 30% 3,000 BRA as a gift. After the gift is completed, the total holdings will be 13,000 BRA! The price of BORA Token (BRA) has risen to 30 USDT, which has been valued at 20 times. Holding 10,000 BRA will give 60% of 6,000 BRA as a gift. After the gift is completed, the total holdings will be 16,000 BRA! M&A valuation premium rewards will be issued after BRA is unlocked. Thank you for your support and attention to BORA, BORA will continue to provide you with better products and better services! July 03, 2023 BORA Exchange
Bhandara police have registered an FIR against two individuals involved in this case. The accused individuals, Kishore Kumbhare and Vicky Zade promised to double the investments of unsuspecting individuals.
The arrest of Kishore Kumbhare, a resident of Sai Mandir in Takiya Ward, has provided some solace to the victims. However, the second accused, Vicky Zade, remains at large, heightening the anxiety among those affected.
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How to Withdraw Money From Bora Band Trading App?
Bora Band Withdrawal Issue: As the collapse of the Bora Band scheme unfolds, it has become increasingly apparent that withdrawals are impossible.
Despite the official website remaining accessible, users have been unable to receive any funds after June 30.
This stark discrepancy, where deposits are still accepted while withdrawals are restricted, strongly suggests the presence of a potential scam.
However, the official website had a notice of “BORA M&A Valuation Progress Notice and Big Gift Giveaway“, but it seems like it is an exit scam scandal.
If you have got any financial losses due to Bora Band or any similar Ponzi scheme, it is advisable to explore the option of filing a complaint with the Securities and Exchange Commission (SEC).
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