TriumphFX collapses, withdrawals unpaid for weeks
The long-running TriumphFX Ponzi scheme has collapsed.
TriumphFX stopped paying withdrawals as far back as August. Support is non-responsive and investors are being locked out of their accounts.
I don’t have an exact date but was able to find investor reports detailing TriumphFX withdrawal problems starting August 2022.
The bulk of TriumpFX withdrawal complaints pertain to failed withdrawals initiated in September and October.
Attempts to contact TriumphFX support result in excuses or being ignored.
At time of publication TriumphFX’s website is still up. BehindMLM understands investors are having trouble logging in.
The TriumphFX backend system is also reported to be disabled.
TriumphFX attached a forex trading Ponzi to pyramid recruitment.
Singaporean scammer Hermes Leong is believed to be behind TriumphFX, working with scammers in Malaysia and Cyprus.
Officially TriumphFX is incorporated as Triumph Int. (SC) Limited, a Seychelles shell company.
Beyond potential money laundering through its shell company, TriumphFX has no actual ties to Seychelles.
As of September 2022, SimilarWeb tracks the largest sources of traffic to TriumphFX’s website as Malaysia (76%), Taiwan (6%) and Singapore (4%).
Overall TriumphFX’s website traffic has been steady decline over the past few months.
While authorities in Malaysia and Singapore have issued TriumphFX securities fraud warning, neither country took further action against the scam.
Pending further updates, TriumphFX investor numbers and how much they’ve lost remains unknown.
My experience has been very different!!!
I withdrew a substantial amount in September and received it within the expected time frame. I have not had any withdrawal problems since my first deposit more than a year ago, and have just submitted another withdrawal request with utmost confidence.
It is truly disappointing that someone can post such a generalised notification as the one above, which is totally misleading.
Another example of FAKE NEWS, I’m afraid.
@Gerrit
Selected withdrawals are going through. The vast majority of TriumphFX investors cannot withdraw.
Only one reason a scam stops paying out…
Also there’s no need to lie. TriumphFX have acknowledged the collapse on social media. They’re now in the “stringing investors along” phase of the exit-scam.
if you are in the tfxi investor groups, many of them are happily getting profits with NO ISSUE.. why don’t you screenshot those?
the ones in your site now is only a handful of negative cases which ultimately may be even resolved. very biased website spreading biased news.
Yawn. The butthurt shills are out in force on this one.
It’s OK. TriumphFX is over. They might reboot at some point but for now it’s a wrap.
Shills high on copium coming on here pretending TriumphFX hasn’t collapsed when they’ve acknowledged withdrawal issues themselves on social media.
Sorry for your loss.
Common sense, please. More than 200% return per annum for more than 3 years. If so good in earning, why those fund manager needs to offer their service to you, they only earn 10% of the profit.
Exactly, the level of administration required for dealing with small amounts is not worth it.
They could go to 1 big bank and make trillions if they were legit able to do that.
@OZ
How long more do you think TriumphFX will totally collapse if base on your theory?
Has nothing to do with my “theories”. TriumphFX will exit-scam (the final stage of collapse) when the admins decide to.
This is typically when withdrawals exceed new investment at a rate it’s no longer lucrative for them to continue stealing money.
Or authorities make a move in Malaysia, which realistically is unlikely.
@OZ
Sounds right but…. TriumphFX have been operating the Fund Management since 2013.. Any Ponzi Scheme should have collapse within 3 years if base on maths cals.
Moreover the Investor doesn’t need to pay any enrolment fee for joining this investment nor if they need to commit anything.
Those who invested doesn’t have any locking periods and they can discontinue the investment with Full withdrawal.
Since 2013 till now, the numbers of investors maybe reached up to millions people? I wonder how can TriumphFX can survive if they dont really having a real income or profit?
I read 1 or 2 commentors here having issues with the withdrawal. Maybe 10 in a millions having this issue? If more than a thousands having the same issue, I am sure most of investors will be alarming and panicking isn’t it?
What say you?
Hate to piss on your parade, but you picking an arbitrary 3year number seems like a coping mechanism.
Scams last as long as they have victims to recruit.
You only have to ask why the world’s nations and banks haven’t signed up to eliminate debt and world hunger if they are as good as they claim? Also where’s the audited financials?
Stop trying so hard.
Bernie Madoff sez hi.
And?
Except when withdrawals are disabled.
Same as any other Ponzi scheme, new investors sign up to lose money.
I provided a ton of examples. Stop being blind.
Just look at Trustpilot today. Lots of new investors with withdrawal issues.
Apparentely TriumphFX are trying to run the scheme in the UK and hoping nobody notices the withdrawal issue for Malaysian investors.
I think they are going to pull the plug on Malaysian investors and move the scheme on elsewhere. But they have failed to realise the power of social media sites like Trustpilot which have exposed them to the world and hopefully soon to the regulators in the countries they try and recruit new investors.
Yeah I noticed that too.
Less than 24 hours ago I spam-binned some shill going on about there being no problems.
It seems rather strange that half way through today when you do a google search for TriumphFX that the Trustpilot reviews are banished to the 3rd search page when they have come near the top of the first page for as long as I have been looking.
I’ve no idea how this could change suddenly. It seems suspicious after a spate of negative reviews?
Perhaps I’m wrong but I can’t see google suddenly changing their algorithm?
Google makes algo adjustments daily. Multiples times a day in some instances.
Wow I can not believe this. I just saw the Malaysian brokers update.
TriumphFX are going to convert all the existing US$ accounts to their own crypto currency!!! Yes that is true!!! Unless the broker update is wrong. That is one way to hide that there is no money to pay the investors.
The FUM of $10,000,000,000 stated is clearly misguided! This new announcement is the same as converting real money into worthless vouchers (ie crypto currency) that only have a real value on the TFXI platform.
There will be no market for the Crypto currency outside of the platform. Which means in reality the currency is worthless.
TFXI seem to have found another way to extend this scheme hoping investors can not see through this.
This is your typical shitcoin exit-scam.
Isn’t it nice? No need to account for depositors money.
They introduced a cryptocurrency platform in 2017 and named it COINTIFY and issued worthless tokens. Now the platform is defunct and just set up another platform called TEX…..
Those scammers have no money to pay off the withdrawals and delaying payment by issuing worthless tokens. Poor investors are promised usd 1= 1 token but there are no buyers and the price has now sunk to 23cents….effectively scamming the investors.
They calim they have investors fund to a tune of 10 billion but can hardly go beyonf 10 million withdrawal a day as claimed….where are the funds?
It could be another FTX type of scam…taking people’s fund for other purposes and no money for investors to withdraw….
We would highly recommend affected people to file police reports before they exit completely…..
Remember the profits and funds/deposits are investors money….how come they cannot withdraw? and only limited to 10million perday?
The reason is they stolen all the money!!!!