CashFX Group hasn’t paid in a month, threatens termination
CashFX Group purportedly hasn’t paid anyone since May 29th.
As the excuses pile up and affiliate investor frustration mounts, CashFX Group is now threatening anyone who complains with termination.
CashFX Group’s latest move was announced earlier today in affiliate backoffices.
It is important that you are aware, frustration is no excuse for abusive or slanderous social media posts.
Your comments could have your account permanently terminated from the CFX, a project that has the capacity to change your financial life.
Despite widespread claims to the contrary, CashFX Group states;
Bitcoin stability is returning, withdrawals are all getting caught up.
Who CashFX Group are paying is unclear. It’s certainly not their rank and file affiliate investors.
Even more bizarrely, CashFX Group reframes not paying anyone for a month as a positive;
These delays are not a warning of a future failure, but rather our unwavering focus on diligence in taking the correct actions to ensure a long, and successful business partnership and our CFX family.
Alllllllrighty then.
Predictably, CashFX Group’s threat resulted in a ton of public ass kissing on their social media channels:
“Please don’t ban meeeeeee! I enjoy not getting paid!”
BehindMLM first documented CashFX Group withdrawal delays in April 2020.
It seems recruitment kept the CashFX Group alive, no doubt helped along by the COVID-19 pandemic.
Like any Ponzi scheme however you can’t stop the inevitable. Recruitment of new gullible investors will only prolong CashFX Group’s collapse.
Not paying out for a month without explanation isn’t an “unwavering focus on diligence”, it’s CashFX Group withdrawals exceeding new investment to the point of failure.
What happens in the meantime is unclear.
Accompanying the announcement today is an internal communication from “PowerTeam Support”, advising no more social media updates.
We stop posting any new contend [sic] in social media as today because of those not plug in to the system or leadership, only those who bough [sic] a trade academy package and the only interest is why my withdrawal request is not complete.
But rather looking for information better go in social media and go against the company.
In another leaked communication relating to potential terminations, CashFX Group Master Distributor Justin Halladay wrote, “it’s about time CFX stood up to the abuse on social media”.
Also reading KYC is being trotted out. Classic MLM Ponzi stall tactic.
Not withstanding KYC meaning fuck all when half the world has issued securities fraud notices against you.
Put another way:
Of course they pay until investment dries up; that’s how Ponzi schemes work: pay out enough to rope in new suckers, keep the scam running as long as possible. But the end is always the same: splat, and a grease spot on the sidewalk.
The ground always wins, people.
Time to start monitoring the FB pages, videos, etc., of the major pimps of this Ponzi to see if they have started deleting content. If they do, you know it is over.
The sooner the people who promote this ponzi scam face the long arm of the law the better.
Decent ordinary people are getting scammed out of their hard earned money and savings while the gangsters at the top piss on them and tell them it’s raining
Seems like they started to pay out again now (end of June 2021), but for how long…
“Seems” based on what?
CashFX Group took in investment for the month of June while nothing left the company (minus the usual owner/top leader pilfering etc.). That’s a temporary band-aid fix.
Seems? There are no payments. Notorious Ponzi scammer Jeremy Cohen of South Africa made a video purportedly showing him getting bonuses paid.
CashFx dreamers are sharing and reposting that video. Nice try scammers.
Selective payments is common practice when a Ponzi is on the verge of collapse.
It’s why I included this line in the article:
Unfortunately the decent ordinary people, are somewhat to blame. You tell them that its a ponzi scam and they start arguing that its paying out, its making money blah blah. They seem to believe the owners over people that know lol.
Making money does strange things to people.
Exactly. If they’d put aside their narrow view of, “I’ll toss in a bit and see how it goes,” and see how they are helping to finance a scamming operation, would they behave differently?
I don’t have high hopes, frankly.
If the funds have been invested in Forex, why is a drop in the price of Bitcoin a problem?
It will have no impact what so ever. But most people knew from the start that the money is not traded, but what we did not expect was the price of Bitcoin going up-up-up and this probably extended the life of this Ponzi with 8-12 months.
But with Bitcoin down again the scamsters will take their money and move to a new project. Next phase is the invitation to a new Ponzi where people can earn back their ‘lost’ profits.
It will be interesting to see if they use the Oakminers scam that they had prepared for the re-launch around a year ago, but they cannot be this stupid, or…
They aren’t.
When you look closely at the people who are in CFX you can see that most of them have been in multiple money schemes and MLMs many who no longer exist. Hundreds have lost hard earned income.
Most of these CFX people have hugh egos, little integrity and sre extremely selfish and greedy. I know many of them. Steer clear.
Hundreds have lost hard earned income lol.
It’s when you appreciate what you have and how hard you work that the rewards come your way.
Trisha and I got paid in July and keep getting paid as we continue to help others invest and grow their business with the FX trading side.
if all of those keyboards jockeys decided to do some work rather than whine and complain about their mundane life then maybe they’d be in a happier place also.
No need to shill. We know outside of a select few new investors withdrawing tiny percentages, CashFX withdrawals have been and continue to be borked.
And nobody can complain because bye bye monopoly money that doesn’t exist. Lulz!
JK Why are you pretending that this is work?
Anyone who is prepared to rope in friends, relatives and colleagues in support of their income from an illegal scamming operation, whilst in denial of obvious evidence that it is fraudulent and illegal, is more morally corrupt than those at the top.
At least those at the top are scamming gullible strangers, not abusing the trust of friends and loved ones.
I personally am in CFX I have 5 friends who are also in cfx .. all making good money some well into the 10s of 1000s every month..
I guess if you’re not involved in the inner workings of the CFX group itself you’re not in a position to say what’s actually happening…
all i can tell you is I get paid… my friends get paid… and they all know others in CFX who are also getting paid..
Numbers on a screen != getting paid. Sorry for your loss.
Also if everyone was getting paid there’d be no reason for CashFX Group to threaten people who complain about getting paid with termination.
KYC has started today!
Just received the KYC mail this morning.
“As part of our commitment to global compliance, we are implementing Know Your Customer or KYC, and Anti Money Laundering or AML requirements, which will begin effective August 3rd, 2021.”
Inbe4 “Guys we need more time to approve your KYC! We can’t pay anyone till KYC is processed and our support is swamped! We promise we’re hiring new KYC processors ASAP!” (months drag on)
Inb4 bloodtype and political affiliation KYC requirements
Now they want your details to use Cashfx For anti money laundering but not registered for any financial services.
Passport full address etc passed over to Who??
I think they are close to collapse. But I still get pay out from them.
I’m one of the lucky ones that actually made money. But the withdrawals takes about 1 month and 6 days now.
Last two withdrawals has been like that. But now you can withdraw while waiting for withdrawal you could not before.
So now in a months time I will see if they come start coming once a week as I do withdrawals or if the time just gets longer and longer.
It’s been pretty easy to see this is/was a scam/Ponzi scheme/typical mlm nonsense from day 1.
Firstly, they claim they will generate massive passive income for you via their super AI/ML automated forex trading system powered by their special algorithm.
Ok, if they have this magic AI automated trading platform why do they also make you pay to ‘learn’ how to be a hot shot forex trader? Why would you need to learn anything about trading forex when their magic robot can trade for you?
It also raises the question if their secret to these massive returns is the AI trading system why do they bang on about their team of super skilled traders?
They got lucky as hell that the value of Bitcoin increased so dramatically over the last 24 mths. That alone kept them going for a good long time.
At the end of the day it’s a hokey mlm/pyramid scheme with no product.
The only people making actual real money were those willing to swallow any self respect they may have had and rope in a ton of new ‘investors’, thereby reaping all the commissions.
It’s been obvious from day 1 they don’t trade any forex. They just move money around and around until they decide to wind it up and move on.
It’s sad that anyone could actually believe in this nonsense or fall for the ‘what are you afraid of? I’ll be driving my Ferrari while you’re on a skateboard’ sales tactics. Or the old ‘’just try the $300 package and see how you go, it’s not much money…..’.
No it’s not, but it keeps the Ponzi running a little bit longer. Every $300 package can pay the weekly ‘profits’ to probably 50 other suckers.
Anyway, it’ll be gone soon.
It’s been pretty easy to see this is/was a scam/Ponzi scheme/typical mlm nonsense from day 1.
Firstly, they claim they will generate massive passive income for you via their super AI/ML automated forex trading system powered by their special algorithm.
Ok, if they have this magic AI automated trading platform why do they also make you pay to ‘learn’ how to be a hot shot forex trader? Why would you need to learn anything about trading forex when their magic robot can trade for you?
It also raises the question if their secret to these massive returns is the AI trading system why do they bang on about their team of super skilled traders?
They got lucky as hell that the value of Bitcoin increased so dramatically over the last 24 mths. That alone kept them going for a good long time.
At the end of the day it’s a hokey mlm/pyramid scheme with no product.
The only people making actual real money were those willing to swallow any self respect they may have had and rope in a ton of new ‘investors’, thereby reaping all the commissions.
It’s been obvious from day 1 they don’t trade any forex. They just move money around and around until they decide to wind it up and move on.
It’s sad that anyone could actually believe in this nonsense or fall for the ‘what are you afraid of? I’ll be driving my Ferrari while you’re on a skateboard’ sales tactics.
Or the old ‘’just try the $300 package and see how you go, it’s not much money…..’. No it’s not, but it keeps the Ponzi running a little bit longer. Every $300 package can pay the weekly ‘profits’ to probably 50 other suckers.
Anyway, it’ll be gone soon.
Well it took them a solid 2 year but the Australian securities regulator (ASIC) has finally issued a warning about cashfx.
Good job asic on warning people about this ‘new’ scam that’s been running for 2 years…
(Ozedit: covered here – https://behindmlm.com/companies/cashfx-group/cashfx-group-securities-fraud-warning-issued-in-australia/)
I love this CFX I with them 2y and have never problem do stóp say bad.
of course, sometimes they pay out late, but that’s not a problem for me.
Just had a guy today try to sell me this. (I’m an ex IFA)
This is 100% Ponzi! There is no doubt that soon it will all collapse and the current owner/organisers will just shrug and attribute the cause of collapse to professional people badmouthing a perfectly honest scheme.
However, all will not be lost … the owners will (out of the goodness of their little black hearts) arrange another bigger and better scheme in which the investors (mugs) can fully recoup their losses in only a few months.
Obviously the invites will encourage them to get their buddies to join as well.
12 weeks and waiting for a withdrawal. No communication.
Thank god I only ‘invested’a small amount. Have learnt my lesson that no investment will pay 5% per week, duh!
It is a ponzy scheme. Others are complaining of a month of not being paid – it took them over 2 months to payout just $100, and currently they still haven’t paid out a mere $115 withdrawal request I made on 30/Nov/2021 – 2 months and 3 weeks ago and counting…
They ignore all my customer support enquires regarding the payout status. Crooks!
I have requested withdrawal since Jan 2022 and still no payment.
How do they seriously expect me to introduce this company to new people when I am being scammed myself?
In this instance I think you are lying. Right now withdrawal speed is about 8 weeks. Got paid around 2500 dollars just 2 weeks ago
The wallets are public at this point,nobody except you serial victims are buying the stories.
Anybody can follow the trickle of money coming in and directly going out as the odd sucker joins (Hint – majority of the money isn’t going to victims as yourself, it’s going to pay mr Taxi driver and his inner circle’s holidays).
The backlog is getting larger daily,small numbers of people getting fed crumbs and telling everyone they are lying if they aren’t getting crumbs too is just plain stupidity on your part.
I know this is a ponzi scheme. But I’m just saying I’m still getting paid and so are my friends.
This article is from June 2021 saying noone got paid since May 2021 and that is bullshit.
People have been saying it’s going to crash for a year and here I am still cashing out. I would never join the page today thou it must crash sometime.
Selective payouts have been done, however the majority cannot withdraw and/or is waiting well over 8 weeks.
On a side note: you didn’t get “paid”, they took money from new recruits and passed it on to you. You didn’t “earn” it, you received stolen money.
CFX are the ones lying.
Who said anything about earning it? And yes in this sense i got “paid”. Or you want to call it a “transfer of funds” instead who cares i got the money in my account.
It will be intresting now when they are starting with the ability to connect a debit card to your account so you can use the funds directly.
Im pretty sure this is a ponzi aswell but if this works then im not so sure anymore. Have got all money i asked for yet. And so have all friends that are registred.
I think alot of people here talking dont have accounts becasue why would you if you know its a ponzi.
And this news is from June 2021 telling people they havent got money since May 2021 and this is bullshit as we people in the site knows.
1 month until June 2022 and site is still up and still “paying” “transfering” money to people.
The comment you were responding to was complaining of withdrawal failures backdated to January 2022. Which is reality.
What’s bullshit is moving the goalposts.
Hmm who is moving it? Are you a member of the site?
As i can see it people said last year they arent getting paid and now they moved this up 1 year saying they are not getting paid NOW but last year when they said that they lied?
Like i said you guys arent members writing this its just shittalk. I know its probably a ponzi. But cant be sure until it crashes. I feel like its impossible to keep it going this long if its 100% ponzi.
Ive got money since January and Febuary.
But still this debitcard thing is intresting cause if that works im very impressed.
Nobody cares what people in a Ponzi scheme said.
You don’t appear to understand how dUh BlOcKcHaIn works. People with far more patience than myself have been mapping transfers in and out of CashFX Group.
You absolutely can. MLM + securities fraud = Ponzi scheme.
How long a Ponzi scheme runs for is irrelevant to it being a Ponzi scheme.
Hooking up a debit card to backoffice monopoly money doesn’t make it turn into actual money.
Cant be long left in this ponzi. They’re throwing out the classic “KYC and DEBIT CARD” announcement.
The final hat trick in every ponzi (cloud token, world games inc etc) so they can say they need the card to make any withdrawals as they pocket the last of everyones money.
Nobody noticing theyre now saying u can renew a package 2 levels lower than ur normal one and there will be no events in July and August. Goodbye.