WikiFX takes you to understand the fraud case of DRCFX

In September 2021, Taipei and Taichung police formed a special task force to investigate the fraud case of HIIFX (HIIFX renamed DRCFX in early 2021), and arrested 12 members of HIIFX led by Guo Nu. On suspicion of violating “futures Trading Law” and “banking Law”, they were sent to the Taichung District Prosecutor's Office for investigation. all of them were eventually ordered to bail 50,000 to 300,000 NTD respectively.

According to the police investigation, HIIFX Taiwan began recruiting members in 2018, rented offices in commercial office buildings in Taipei and Taichung, operated futures managers and consultants without authorization, held various investment lectures, and launched a “profit guarantee” scheme.

The “profit guarantee” scheme claims to rely on Wall Street's top team to conduct, with forex margin, USDT as the investment target. The monthly profit of 5% (conversion annual interest rate is as high as 60%), that is, to invest 1 million NTD, 1 year can receive 600,000NTD dividend, and the entry threshold is not high, as long as 1,500 USD. As a result, many people rushed to invest, with at least 20,000 joining the membership. Therefore, HIIFX got an estimated $30 million in illegal proceeds.

The case came to light because a 60-year-old woman invested 2 million NTD in the scheme and got a 5 percent bonus each month initially, but when she tried to withdraw the capital, she was refused by the agents of HIIFX. The woman impressively discovered that she strayed into the fraudulent Ponzi Scheme, so she reported this broker to the police.

Under the investigation, the police task force found that HIIFX had been warned by local authorities long ago. In 2018, there was a series of financial illegal situations in Malaysia and China. Therefore, in order to escape the judgment, this broker was renamed DRCFX in May 2021, and it was still engaged in illegal gold suction activities. At present, WikiFX continues to receive complaints from victims.

First of all, we query HIIFX via the WikiFX APP. It can be seen that this broker has been established for 2 ~ 5 years. Although it claims to have a regulatory license of NFA in the United States, it is not authorized, and 84 Revelations have been accumulated by WikiFX. The WikiFX APP has marked this broker as a Ponzi Scheme and warned investors to stay away.

In addition, its website now shows a “website update” announcement, and it encourages investors to send emails to contact it. By using the global WHOIS Search, we found out that the date of update is 2021/11/19, which indicates that it moved to the DRCFX at the end of last year to continue the fraud.

According to WikiFX, DRCFX has been established for 1 ~ 2 years, which is consistent with the time of name change in May 2021, and did not use MT4/5 software. At present, there is no effective regulatory information on DRCFX. So far, 27 Revelations have been accumulated by WikiFX.

According to the latest complaint, the victim pointed out that this broker claimed to guarantee profits, and has been encouraging people to borrow money for large investments. When this victim wanted to apply for withdrawal in June, he was rejected by DRCFX for various reasons, such as investigating money laundering.

Until now, the official website of DRCFX cannot be opened, but using a Global WHOIS Search, it can be seen that the website was set up on 2021/4/22, about the same time as the name change, and updated on 2022/2/26, it is likely to set up a new website.

One victim told WikiFX that this broker has changed its name again. The new website is https://members.aegloballink.com/.When we arrange this clue tracking down, we find another relevant broker called “AE Global Link”

According to WikiFX, AE Global Link is almost the same as DRCFX. It has less than one year of experience, it has no regulatory license, and it does not use MT4/5 software. It is not a trustworthy broker that we dont recommend at all.

Follow up with Global WHOIS Search and you'll see that the website of AE Global Link was set up on 2022/3/14 and updated on 2022/4/13. It seems a bit too coincidental that the DRCFX website was launched shortly after it was updated. Although it is not entirely certain that AE Global Link is related to HIIFX and DRCFX, investors are not advised to invest in AE Global Link since it has been given a such low score by WikiFX.

Conclusion

After the above investigation, it can be found that although HIIFX (DRCFX) is considered a Ponzi Scheme, and even by the Police in Taiwan, it still constantly changes its name, location, and set up a new scam to lure investors to join. It is quite difficult to hold it accountable.

Nonetheless, WikiFX will keep track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website or download the WikiFX APP to evaluate the safety and reliability of this broker!