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.

🤖 Quick Answer

What is TriumphFX?
TriumphFX is a financial scheme combining forex trading with pyramid recruitment components. The platform operated as a Ponzi scheme, promising investment returns while relying on continuous new participant enrollment to sustain payments to earlier investors.

When did TriumphFX stop processing withdrawals?
TriumphFX ceased withdrawal payments in August 2022. The majority of withdrawal complaints from investors originated in September and October 2022, with support channels becoming unresponsive to customer inquiries.

What technical issues affected TriumphFX users?
Affected investors reported difficulties accessing their accounts through the platform's login system. Additionally, TriumphFX's backend infrastructure was disabled, preventing users from conducting transactions or retrieving account information.

Who is associated with TriumphFX?
Singaporean individual Hermes Le

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