TriumphFX has received a securities fraud warning from Seychelles’ Financial Services Authority (FSA).

As per the FSA’s May 20th TriumphFX warning;

This notice is hereby issued by the Financial Services Authority (“FSA”) drawing attention to … Triumph Int’l Co., Ltd. previously incorporated under the International Business Companies Act.

The FSA wishes to advise the public as to the fact that the company does not, nor has it had any authorisation to operate under the Virtual Asset Service Providers Act, 2024 and was simply incorporated.

The company has since been struck off and was dissolved as of the 1st January 2022, and is therefore no longer a legal entity.

A visit to TriumphFX’s website reveals it still falsely claims to be “incorporated in the Republic of Seychelles” as Triumph Int. (SC) Limited.

TriumphFX is a long-running Ponzi scheme that primarily targets Malaysia.

BehindMLM first came across TriumphFX back in 2017. Since then we’ve reported on TriumphFX

The current status of TriumphFX is a bit murky.

In 2018 Singapore-based scammer Leong Koon Wah, aka Hermes Leong (right), was arrested on charges related to Triumph Global, an earlier iteration of TriumphFX.

Then in October 2022, TriumphFX collapsed following non-payment of withdrawals for weeks.

In January 2025, Hermes Leong was convicted and sentenced to ten years and six months in prison.

Despite all of this, TriumphFX persists, albeit barely. SimilarWeb tracked ~4900 monthly visits to TriumphFX’s primary “tfxi.com” domain in May 2025.

38% of TriumphFX’s May 2025 website traffic originated from Malaysia, followed by 17% from the UK, 17% from Singapore, 13% from Vietnam and 10% from Australia.