CashFX Group bitcoin wallet transfers confirm Ponzi scheme
A recent marketing video by promoter Tanya Jennings, has shed light on the flow of bitcoin within CashFX Group.
Jennings, a resident of Australia, has joined CashFX Group over a year ago.
As revealed by Jennings, she’s earned $377,986 through CashFX Group.
How much of that Jennings has actually been able to withdraw however is unclear.
On January 17th Jennings uploaded a YouTube video titled, “100K CFX Trade Pack Reloaded for 2022 in under 6 months!”
The video allowed Rob Truckle, a member of the “CashFX (in association with EverFX) Scam – Now What!?” FaceBook group, to track the payment within CashFX Group.
In her Jan 17th video Jennings rolls over one of her $100,000 CashFX Group investment positions.
This costs $120,000, of which Jennings “pays” $108,946.24 from her CashFX Group backoffice.
The balance, $12,843.01, which comes to 0.30107918 BTC at the time, is paid from an external wallet.
From the screenshot above we can see the beginning of the CashFX Group wallet address Jennings deposited the 0.30107918 BTC into.
“1DPVt-” corresponds to the wallet address “1DPVtFTcT3FXS4c1gQSvqK4oLibETTxTu9”.
We can verify Jennings’ transaction for 0.30107918 BTC plus a fee was made on January 14th, 2022 (click to enlarge):
Note that the “3EAS” wallet is not Jennings’ bitcoin wallet. That can be traced back to “1CuaVC3dPqMBHpvYgo3Rz1HBWjDVzkcu4N”, but is a headache and irrelevant to confirming the amount Jennings’ invested.
Jenning’s investment sat in the 1DPV wallet till January 18th, wherein CashFX Group moved it as part of a 10 BTC transaction (other investments), to the wallet “1Lt7BUFt6yPj1vwSWngmNWYzrjhgm7Jiud”.
The 1Lt7 wallet is the source wallet used to fund the pool of wallets CashFX uses to pay investor withdrawal requests.
At the moment withdrawals appear to be paid out in sporadic 10 BTC batches.
This flow of money shows Tanya Jennings funding a CashFX Group investment position, those funds sitting idle for a few days, and then being transferred directly into CashFX Group’s withdrawal wallets.
In other words, this is the equivalent of bank account statements confirming CashFX Group is using new investment to directly fund withdrawals.
Note that Jennings’ tracked transactions is just one. Anyone who has recently deposited BTC into CashFX Group should be able to track their investment to a CashFX Group withdrawal wallet.
Older investments can be tracked too but requires a bit more scrolling and mouse clicking.
With respect to CashFX Group’s withdrawal delays, we have two issues at play here.
First, due to Ponzi math, there simply isn’t enough new investment to meet withdrawal demand.
At time of publication CashFX Group’s “1Lt7” withdrawal funding account is sitting at 40 BTC.
Secondly CashFX Group limits and/or halts withdrawals whenever bitcoin goes down.
On March 10th CashFX Group started using the wallet “18r8ftfovKza9cDEvVRaqRjkaDPXj16dAQ” to accept new deposits and pay out withdrawal requests.
The address halted transactions on 12th May when Bitcoin had a sustained drop from the ATH of 53% over 7 days and resumed on 20th May.
On May 26th CashFX Group transferred 211 BTC to the “1Lt7” account in an attempt at bitcoin arbitrage.
Since then, CashFX Group has been using the “1Lt7” wallet to pay withdrawals.
The combination of new investment running out and bitcoin’s volatility has seen CashFX Group fall farther and farther behind with withdrawals.
This culminated with CashFX Group completely disabling new withdrawal requests in late November.
This was followed up by John Kinnear’s “we got hacked” excuse.
In actuality, CashFX Group was just repeating their May 12th play. You can sync this with bitcoin dropping from mid November, a week or so before withdrawals were disabled.
Bitcoin continues to trade flat or decline, new withdrawals aren’t anywhere near enough, and so the bulk of CashFX Group investors remain unable to withdraw.
Looking forward, Liberia has emerged as a new market for CashFX Group victims.
Recruitment in Australia has declined, seeing the US return as the top source of traffic to CashFX Group’s website.
Both the US and Australia are exhausted however. It is new markets, like Liberia, that are funding limited withdrawal requests.
This results in older CashFX Group investors crowing about receiving withdrawals. Notwithstanding selective payments to Justin Halladay, Luigi Bruni and other top CashFX Group net-winners.
Withdrawal requests from new recruits in Liberia and other third-world countries later in the year? Well, that’s somebody else’s problem.
Update 4th February 2022 – Sometime this week Tanya Jennings deleted every CashFX Group video from her YouTube channel.
Consequently the previously accessible link to Jennings’ video referenced in this article has been disabled.