Latest News Of NovaTech FX Scam Closure: All Payouts Suspended

Following last week's concerning announcement from NovaTech FX, the reality of the situation has been starkly unveiled over the weekend.

From May 11th, NovaTech FX has put an abrupt stop to disbursing weekly returns and recruitment commissions, a move that has rattled investors and participants within the platform.

In the announcement, NovaTech FX stated, “Please be informed that we are currently dealing with a problem leading to erroneous computations in commission. Our team is relentlessly investigating to pinpoint the source of this issue. Regrettably, we have to freeze all bonus disbursements until we resolve the situation.”

Initial interpretations suggested that this hold would exclusively affect recruitment commissions. However, the chilling reality dawned on NovaTech FX investors as they failed to receive their customary weekly returns over the weekend. This confirmed that all disbursements within NovaTech FX have now come to a standstill.

NovaTech FX did maintain that “current cashout requests continue to be processed during this period,” but this claim seems to hold little weight. It is a poorly kept secret that the majority of NovaTech FX's withdrawal requests have been systematically ignored in recent months.

Despite the firm's pledge to reimburse Canadian investors following numerous warnings from Canadian regulators, no evidence of these reimbursements has been forthcoming. Moreover, NovaTech FX was conspicuously absent from a recent regulatory hearing in Ontario, further heightening concerns.

The limited payments NovaTech FX has managed to disburse in the past few months have been primarily linked to fresh recruitment. However, with the firm's decision to prohibit US and Canadian clients earlier this week, the recruitment program essentially collapsed.

Together, the US and Canada constitute the lion's share of NovaTech FX investors. Data from SimilarWeb reveals that in April 2023, the US and Canada generated 75% of NovaTech FX's website traffic.

Taking into account these concerning developments, it is clear that NovaTech FX's exit scam is now completed. The only remaining piece of the puzzle is the whereabouts of the founders, Cynthia and Eddy Petion. With payouts halted and the company's reputation tarnished, speculations abound about whether the duo has fled the United States.

Download and install the WikiFX App on your smartphone to stay updated on the latest news.

Download the App here: https://social1.onelink.me/QgET/px2b7i8n