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There was a breakdown in the FVP Trade Ponzi scheme today.
Instead of simply admitting they’re broke, FVP Trade places the responsibility on UK regulators. According to a notification dated July 18th from “FVP Management,” An international anti-money laundering body has notified the company that all of its existing assets, including bank deposits, have been temporarily frozen because of the company’s procedure of trading USDT to fiat and then topping up MT4 with fiat.
According to FVP Trade, authorities in the United Kingdom have taken action against it.
The company promptly hired a British legal team to handle the situation after getting the notification. In order to recover its assets, the company intends to resolve all of its present issues through the correct legal processes.
Additionally, FVP Trade has stated that “in order to prevent any further damage or vulnerability, the firm has determined that all system data and access will be temporarily restricted.” In order to prevent further damage to our security and reputation, we will restore the system data at a later point when the company’s situation returns to normal.
There you have it. The FVP Trade is now officially over.
In early 2020, FVP Holdings was renamed FVP Trade. Scammers from Southeast Asia are believed to be behind the Ponzi scheme.
China and Singapore lead the pack because of their adoption of simplified Mandarin.
There is no way to estimate how much money FVP trade victims have lost. According to estimates based on traffic data from SimilarWeb, FVP Trade investors are primarily thought to be based in Italy and Vietnam.
