The Ponzi scheme run by VFP Trade has failed.
VFP Trade doesn’t just say they’re out of money. Instead, they blame regulators in the UK.
According to a letter from “VFP Management” dated July 18;
During the company’s process of exchanging stable coin USDT to fiat and then topping up fiat to MT4, the sheer number of transactions has caught the attention of international anti-money laundering organizations. The company has been told that all of its current assets, including bank deposits, have been temporarily frozen.
VFP Trade doesn’t say that UK authorities have taken action against it, but it sounds like they have.
As soon as the company got the notice, they hired a team of professional British lawyers to handle the situation.
To get its assets back, the company will try to solve all of its current problems in the right way.
Along with stopping withdrawals, VFP Trade gives investors a clear sign of its exit scam;
So that the company’s data wouldn’t be damaged or put at risk, the company decided to temporarily remove all system data, access, and information.
We will restore the system data at a later time, when the company is back to normal, to protect the security and reputation of our company from further damage.
And that’s the end of VFP Trade.
When it began in 2020, VFP Trade was called VFP Holdings. People from Southeast Asia are thought to be behind the Ponzi scheme.
China and Singapore are in the lead because they use a simplified form of Mandarin.
No one knows how much VFP Trade victims lost in total. Based on how much traffic is on SimilarWeb, it seems that most VFP Trade investors are from Italy and Vietnam.