CFX Legacy has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).

ASIC added CFX Legacy to its Investor Alert List on December 12th, 2024.

[CFX Legacy] is likely to be offering financial services to Australian consumers.

It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.

CFX Legacy popped up on BehindMLM’s radar in August 2023, as a suspected CashFX Group reboot.

CashFX Group being the notorious MLM Ponzi scheme co-founded by Huascar Lopez and Ron Pope

Lopez, a Dominican Republic national, hasn’t been seen in public since Cash FX Group collapsed for a second time in late 2021.

Pope, a US national, is also the founder and CEO of Conversion Pros.

When CFX Legacy first surfaced in 2023, Conversion Pros was behind its website.

CFX Legacy surfacing coincided with an email sent out to Cash FX Group investors;

It should be noted that CFX Legacy launched on the domain “cfxlegacy.com”. Today CFX Legacy’s original domain throws up fraud warnings in web browsers.

In August 2024 the UK’s FCA added CFX Legacy to its existing CashFX Group fraud warning. The FCA cited CFX Legacy’s original domain.

ASIC cites the domain “cfxlegacy.pro”, privately registered on August 17th, 2024.

Attempts to visit “cfxlegacy.pro” now redirect to “cfxlegacy.site”, privately registered on November 2nd, 2024.

CFX Legacy’s current incarnation is set up as a classic recovery scam, promising CashFX Group victims “fund reimbursement”.

We’re addressing the issues of pending withdrawals here on our new website.

If you are having issues logging into your account, kindly click on the register button below to register your email, after that, log into your account and follow the recovery instructions on your dashboard to restore your old funds.

The catch is the same as any recovery scam, deposit new funds to whichever scammer is running the third CashFX Group recovery scam.

I can’t say for sure but I suspect the CashFX Group database has now been sold multiple times. Anyone handing over more money to CFX Legacy is just racking up additional losses.

As to the original CashFX Group Ponzi, the last news we heard was the UK abandoning its criminal investigation in December 2023. There have been no official regulatory updates since.