Anyone who still believes is losing – The dangerous illusion of Lyconet

Glossy on the outside, rotten on the inside – that’s an accurate description of the current state of Lyconet and myWorld. While the company continues to publicly portray itself as a thriving network, behind the scenes there are increasing signs of structural decay, financial difficulties and systemic lack of transparency.

Office closures: downsizing instead of expansion

myWorld is gradually withdrawing from individual countries. As our on-site research confirms, several country offices have been closed down. When a note on the door informs that the office has ceased to exist since 6 June 2024 and has been replaced by a ‘virtual office’ – as is the case in Vilnius, Lithuania, for example – this speaks for itself. Contract management now lies with myWorld International AG – a legal detail that is likely to become relevant in future claims for reimbursement.

It is interesting to note that myWorld founder Hubert Freidl himself admitted at the beginning of the year that ‘mistakes had been made at management level’ that had put the company in financial difficulties. At the same time, he announced plans to centralise business operations in future, officially touted as an ‘efficiency measure’. In fact, office space at the company’s headquarters in Graz has also been significantly reduced. There is no sign of growth, instead consolidation is on the back burner.

Amazon vouchers: sold out – for whom?

Another stumbling block is the ongoing voucher fiasco. For months, myWorld advertised Amazon vouchers as a particularly attractive loyalty reward offer. Then suddenly: radio silence. The vouchers disappeared from the platform without comment. When asked, the company referred to a ‘bottleneck at Amazon’.

An explanation that falls apart on closer inspection: an Amazon employee confirmed to us that there had been no such bottlenecks. What’s more, there is no direct business relationship between Amazon and myWorld. Processing is carried out exclusively by third-party providers. Industry experts, on the other hand, see the cause in a financial bottleneck on the part of myWorld, which led to the sudden discontinuation of the voucher programme. This is further evidence of liquidity problems that the company is desperately trying to conceal from the outside world.

The missing AI avatar: innovation or empty promise?

Big promises, little substance – this is also a familiar pattern at Lyconet. The latest example is the so-called ‘AI avatar,’ which was announced as a revolutionary sales tool. A digital salesperson, available around the clock, multilingual, tireless – at least that was the vision. The reality? Silence. Neither updates nor demos nor productive deployments have been documented to date.

Anyone who remembers earlier projects, such as the ambitious but never realised Chicago Lane venture, will recognise a familiar pattern: big announcements generate short-term sales and enthusiasm, but as soon as the initial euphoria wears off, the projects disappear from the scene. It seems likely that the AI Avatar was just another lure to attract fresh capital into the system.

A system at the expense of the weakest

Despite all the obvious warning signs, there are still thousands of marketers who believe in the system or want to believe in it. Many of them are in difficult life situations and are looking for financial prospects, meaning or a sense of belonging. Lyconet knows this and deliberately uses psychological mechanisms to target precisely these people. However, the reality almost always follows the same pattern: high deposits, unrealistic expectations and, in the end, bitter disappointment.

Conclusion: When will the last stone fall?

How many warning signs are needed before it becomes clear that Lyconet/myWorld is built on shaky foundations? How long can the façade be maintained? And how many people will have to lose money before consequences follow?

It is more urgent than ever to raise awareness about this system. Because those who recognise early on what really lies behind the beautiful façade can protect themselves from empty promises, financial losses and a system that continues to thrive on the good faith of its participants.

Be vigilant. Ask questions. And don’t let yourself be blinded.

Note: As always, those affected are welcome to comment, or if anyone has more or different information, they are welcome to share it with us. We are not interested in making false claims and our primary goal remains to provide complete documentation.