Cashback Universe – even less transparent than Lyconet and myWorld

Targeted approach to former Lyconet marketers

The opening of the call makes it clear who the message is aimed at: ‘You have built something up over many years, now is the time to secure your success.’

This rhetoric is clearly aimed at those who were previously active in the Lyconet system. It was only after the insolvency of the myWorld and Lyconet companies that Cashback Universe began aggressive advertising and reactivating old networks.

This suggests that the target audience is one that already has experience with the structures, terminology and sales models of Lyconet – and is still emotionally and economically tied to earlier promises.

Lack of supervision – known risks

Neither ONE STEP AHEAD LLC nor Cashback Universe are listed in any national or European register as supervised financial service providers.

There are no official approvals, licences or disclosures of the ownership structure.

As we have already documented, this repeats the same risks that were already seen in previous Lyconet and myWorld follow-up projects: legal opacity, lack of investor protection and possible circumvention of consumer protection regulations.

While the marketing materials speak of ‘groundbreaking innovations’, there is a lack of concrete information on payment flows, contractual partners or responsibilities.

Even the supposedly international marketing agency that is supposed to support dealer development remains unnamed – another indication of a lack of transparency.

Extract from the registration office Translation of the extract

Increasing reports to supervisory and criminal authorities

According to research by observers and entries at various reporting centres, there are currently increasing reports about Cashback Universe and associated actors.

The Public Prosecutor’s Office for Economic Affairs and Corruption (WKStA) in Austria, the BaFin (Germany), the FMA (Austria and Liechtenstein), the SEC (USA) and other authorities have been informed.

According to research, investigations are underway to determine whether there is evidence of unauthorised financial transactions, unlicensed distribution systems or the continuation of prohibited structures.

The growing number of reports indicates that regulators are closely monitoring developments – particularly with regard to the takeover of old Lyconet structures under a new name.

Conclusion

Cashback Universe presents itself as a new beginning, but clearly follows the patterns of its predecessor.

Targeted outreach to former marketers, anonymous moderation, lack of licensing and a disclaimer that shifts all risks to participants – all of this points more to rebranding than a genuine fresh start.

As long as neither company executives nor payment flows are disclosed in a transparent manner, potential participants and investors should exercise extreme caution.

Behind the familiar promises of a ‘new beginning’ and the ‘opportunity to be part of something bigger’ could ultimately lie only one thing – the continuation of a failed system under a different name.

Note:

This article is based on publicly available sources, documented complaints from investors and an official press enquiry to Blocktrade. It is a journalistic analysis. All statements about legal risks or possible contractual constellations are to be understood as assessments, not as conclusive legal advice.

• Art. 6 and Art. 8 MiCA Regulation (EU) 2023/1114 – Requirements for transparent, fair and non-misleading communication by crypto-asset providers.
• BaFin information sheet on advertising and disclosures for financial products (as of July 2022) – Obligation to provide clear, noticeable risk information.
• SEC Rule 156 (17 CFR § 230.156) – Unlawful misleading statements in investment company sales literature.
• FTC Disclosure Guides (U.S. Federal Trade Commission, 2023 Update) – Obligation to place notices in a clear and conspicuous manner (‘clear and conspicuous disclosure’).
• Comparable cases in MLM-based financial structures, documented in: ESMA Public Statement ‘Warnings on unlicensed financial promotions in social media’, April 2024.
• Chat / Call of 27 October 2025