CoinMarketBull Latest Update Today: In our earlier CoinMarketBull review, we strongly advised readers to exercise extreme caution and avoid getting involved with this dubious platform, as it was operating as a Ponzi scheme with a high risk of collapse.
Regrettably, our warning has now materialized into a stark reality, as the CoinMarketBull has collapsed.
This Post will delve into the details surrounding CoinMarketBull’s collapse, as well as guide how to withdraw funds from CoinMarketBull (CMB).
CoinMarketBull Collapses
The CoinMarketBull collapsed on May 30th, when the CEO of Maxpread Technologies, Jan Gregory, announced his departure from the company.
Gregory cited mismanagement of funds as the reason for his decision to step down, leaving many investors concerned about the state of their investments.
The Company had previously received regulatory fraud warnings from both California and Russia, raising suspicions about the legitimacy of the organization.
CoinMarketBull, which was associated with Jan Gregory and his network of Ponzi schemes, quickly followed suit and disabled withdrawals around May 24th.
While some selective payments were made during this period, the overall lack of withdrawals being processed for an extended period is a clear indication of the collapse of a Ponzi scheme.
Read: EAconomy Review
How to Withdraw Funds from CoinMarketBull?
The main website (coinmarketbull.co.uk) is still live, but there is no information about the withdrawal on the site. With the current limitations on withdrawals imposed by CoinMarketBull, the withdrawal seems to be not possible.
It is important to stay updated on the official communication channels provided by CoinMarketBull. Monitoring their website, social media accounts, and any other platforms where they share information about any announcements or updates about withdrawals.
In cases where investors have lost money as a result of their involvement with CoinMarketBull, it is advisable to explore filing a complaint with the Securities and Exchange Commission (SEC). The SEC has the authority to investigate Ponzi schemes and take legal action against the individuals behind them.
By submitting a formal complaint, affected individuals contribute to the efforts of regulatory bodies in cracking down on fraudulent activities and potentially seeking restitution for victims.