In the period of this few months time, I did some withdrawals, to sort of try to see if it is hard to cash out, and also act like a gift money for me to spend.
But then I can choose to cash out using the official way, which has bank charges/higher waiting time/not-as-good rate.
So my friend offer to help me cash out, via this brother, via an inner Discord group of higher upline, with a P2P marketplace of selling and buying of USD, yes that time were still USD.
And this is how I have been cashing out.
After seeing the few months of positive returns, I got even greedier, I top up another RM57k in it, making my total investment in this for RM100k.
But deep down, I still think that this is a Ponzi scheme that has yet to explode.
My thought process is, if I am already playing a Ponzi scheme, with the same risk over time, why not I just put in more capital, so that I can have higher return, then withdraw all my capital out.
As long as I can cash out in time, that is.
Then here comes the month of Nov 2022, the return of previous month Oct is particularly bad, I think is like 3~5% if I recall correctly.
I take it as a hint that it is time for me to go, so I decided to cash out all of the money I have with TFXI.
As usual, I go to my friend to do it via the marketplace.
Then my friend tell me, the marketplace's rate is not so good right now, so his brother will help me withdrawal via the official way.
I was like, okay, i guess, it is not like I am in the urgent to use this month, so I just let it be.
1 week has passed, no money in yet, but the brother said it has already been approved by TFXI.
2 weeks has passed, no sight of money still.
3 weeks has passed, I follow up again, the brother said it is under clearing house now, it is normal to wait up to a month he said.
then the news broke, saying TFXI going to become TFX.
I was like: Woah big move, luckily I already requested to take out my money.
That time I have no idea the negative impact that this TFX token has, i just don't like big changes.
4 weeks has come, and I follow up, the brother said "oh your withdrawal has been rejected, let me transfer you the money back to your TFXI account"
Which it becomes TFX at this point.
I am too stunned to speak, I am in shock.
I been telling myself, Ah I am the lucky one who manage to get out in time, Ah I am the genius one who manage to run at the run time.
Here I am, trapped with the TFX token, the withdrawal request can be approved and the rejected without notice, all in the name of "updating current TFXI platform for TFX token"
Then it takes time for the rejected money to send back to my account.
Which make me miss my golden time to sell at 0.7/0.8 TFX time.
I asked why TFX is not back by USD/USDT, the answer I get is: "they purposely don't want it to be pegged to USD, so in the future, the TFX can worth >USD1, the sky is the limit, if more investor want to invest with TFXI, why satisfy with only USD1?"
Now they are like: "we did not forsee this impact, and we certainly did not forsee all our Master IB upline throw their TFX this quickly and at this scale, we are figuring a way to limit the price drop"
With the TFX drop to 0.2/0.3, I come back to this forum again, and read the comment from you all.
It is like a wake-up call to me, I am really grateful for having you guys relentlessly trying to wake up us the hamster.
Some of the comment that i took it to heart:
- "the coin is worth 0.000000, it is practically printing money from thin air, if it is not back by USD"
- "If they can limit the selling of Master IBs until 0.8, what makes you think that TFXI won't limit the selling of everyone, with some ridiculous reason?"
- "They are creating a confusing scheme, having HQ that no one see in Cyprus, no Linkedin or whatsoever, but managing a AUM of USD 10B??"
- "Daily coin settlement of USD 10m is a joke, with the success case we see, it is not possible to make up to USD10m 1-to-1 buy back daily, practically no one is getting it"
- "GET OUT WHILE YOU STILL CAN"
so after 2-3 days of reading the last 50 pages of this post, I decided to cut my losses, cut my limb, cut my whatever sh't that is with TFXI.
I take a total loss of RM70K, and call it a lesson, getting back RM30k while i still can, before they make any stupid move.
Seeing losses this big is certainly painful to me.
I am a frugal guys, it took me a good 5 years to save up RM100k, but I manage to loss 70% of it in a few month times.
What pain me the most is the money, and second, is the blindness of my best friend.
He is a reasonable, logical, competent guy in work and in life, I am not sure whether he gets fool into TFXI as well, or just choose to turn a blind eyes, and live in his own echo chamber.
My bad for trusting a friend's decision too much.
My bad for not doing my due diligence in time.
and most importantly, my bad for being greedy.
This is certainly a life lesson to me.
I hope you learn from this and frankly you are lucky that you can get something back, 30% + or -. Imagine that you invested in those scams like JJPTR, MBI and etc, you can lost everything overnight.