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I have been on social media and started to see a pattern of affiliates inside of Cash FX Group saying their withdrawals are delayed.

Could it be possible that Cash FX Group might go under?

Well the CEO Huascar Lopez addressed the Cash FX Group’s ongoing withdrawal delays in an email sent to his investors.

He was pretty much blaming the COVID-19 and bitcoin’s volatile fluctuating value.

During this unprecedented global challenge, we are managing issues in several areas that affect our business model and many others as well.

One of those is within the forex market itself which we have discussed during our New Social Movement events. Another is in the conversion of Fiat to BTC for our member withdraws. I would like to share some details regarding the process so you may better understand why some delays may take place from time-to-time due to the current COVID-19 pandemic.

Cash FX Group promotes investment in bitcoin on a promise to get a 200% to 400% return.

All returns are paid in bitcoin, which Cash FX Group claims it’s losing money on.

We prepare for our busiest withdraw period on the weekends by purchasing BTC at the end of the week to cover expected withdraw requests. A BTC purchase of 100 coins for example would cost $665,000 USD. This Saturday saw a price drop to $5,800 ($580,000 USD). This creates a shortfall of $85,000 USD to complete requests for withdraw. At this point, we have a couple options; one is to spend an extra $85,000 USD to complete withdraw requests; another would be to wait for a price recovery, thus protecting the capital on behalf of the members and the company, and then complete the withdraw requests without such a large loss. Multiple times over the last few days we began the process of paying out all withdrawal requests, however due to market volatility, we had to stop before being able to complete all the withdrawal requests. So each day we would pay out several withdrawal requests, but unfortunately, not all of them at once.

How far behind is Cash FX Group with these withdrawal requests?

I am getting mixed messages.

Some people claim it’s been less than 24 hours and as soon as bitcoin went back up to 6K people got paid again.

Now then I have people saying they are blocking ALL big accounts that have large teams.

This is a message I found on Facebook recently…

To protect their identity, I covered their username…

Personally, I do believe that they are running out of money because their business model didn’t revolve around Forex trading…

It was newly invested funds paying off existing members…

So if they are cancelling big accounts like the one above and suddenly can pay withdrawals, that’s pretty shady business.

Not only that, Cash FX Group isn’t registered to offer securities which these are because they are promising 200% to 400% ROI.

Plus most of the traffic to the site is coming from the USA means they should be registered with the SEC.

Anyway, to date US authorities have not taken action against the company or it’s promoters.

They doesn’t look good for Cash FX Group…

Stay tuned to see what happens next.

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See you at the top,

-Jesse Singh

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