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.