Between the eCredits crisis and BTEX speculation – Blocktrade in the shadow of myWorld's insolvency

Why almost 90% of trading volume on Blocktrade depends on eCredits and what that means for investors who were led to the platform via myWorld/Lyconet.

A striking market distribution

According to data from CoinMarketCap, a single trading pair currently dominates activity on Blocktrade: eCredits (ECS/EUR) account for around 88.5% of the most recently measured trading volume. In contrast, the in-house BTEX/EUR pair only accounts for around 11.5%.

For a platform that has been positioned as a ‘regulated European crypto exchange,’ this dependence on a single, project-related token is unusual. It raises questions about diversification, liquidity and independence.

Entry via Lyconet and myWorld

Many of today’s Blocktrade users did not come to the platform by chance. Via Lyconet and myWorld, customers were already involved in programmes such as so-called benefit voucher models or share-like investments from 2021 onwards.

Presentations stated that Blocktrade would become the ‘future exchange for its own tokens’. Leading figures around Hubert Freidl promoted the fact that shares acquired via myWorld would later be directly tradable via Blocktrade.

The detour via eCredits and BTEX

The eCredits (ECS) project was central to this. It was heavily promoted within the network – always with the promise that the tokens would be freely tradable on Blocktrade. At the same time, Blocktrade placed its own BTEX token, which was also marketed via Lyconet/myWorld.

Many small investors paid ‘marketing contributions’ and received vouchers or token rights, which were ultimately credited to Blocktrade accounts.

Marketing promises as a bridge

The communication followed a clear narrative:

‘Invest via myWorld/Lyconet, and your units/tokens will later be visible and tradable on the regulated Blocktrade exchange.’

Blocktrade was thus presented not only as a technical platform, but also as an anchor of reliability. For many investors, the exchange thus became the expected payout channel for their myWorld investments.

Complaints after the insolvency

With the insolvency of myWorld International AG, many investors now feel let down. Their alleged investments or tokens were only booked via myWorld, not directly via Blocktrade.

Based on feedback to date, Blocktrade does not recognise them as direct contractual partners, but refers them to myWorld. In practical terms, this means that payouts or trading are effectively blocked.

A public Facebook group states, for example:

“I want my R20,000.00 invested on this platform back! This is unacceptable from Germany, Lyconet to MyWorld. I am from South Africa.”

The pattern: myWorld → Lyconet → eCredits/BTEX → Blocktrade

The structure shows a clear pattern:

myWorld organised the investor inflows,
Lyconet provided marketing and programme models,
eCredits and BTEX acted as technical rights,
Blocktrade provided the platform on which the assets were supposedly tradable.

Today, investors are caught between two fronts:

myWorld is insolvent,
Blocktrade points to a lack of direct contractual relationships,
and many deposits appear to have remained legally with myWorld companies.

Unanswered questions for Blocktrade

In an official request, we asked Blocktrade to comment on the following points:

In what form does the exchange recognise the tokens or rights brokered via myWorld/Lyconet?
Can affected investors transfer their assets to their own wallets or other platforms?
What measures does Blocktrade plan to take to ensure transparency and legal certainty?
When will the management officially inform the public?

No response had been received by the time of going to press.

Conclusion

Blocktrade advertises itself as being regulated and reputable, but its overwhelming dependence on eCredits and the large number of complaints from the myWorld/Lyconet environment raise doubts about its actual independence.

For investors, this means that without clear answers from Blocktrade, it remains uncertain whether their deposits are actually tradable or available, or whether they will be lost in the insolvency and token chain between myWorld and Blocktrade.

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. Those affected should seek legal advice if in doubt.

Sources / Status:

Own review (Blocktrade app/website offline, August 2025), user reports in public groups (e.g. Facebook, etc., accessed on 29 August 2025).

CoinMarketCap – Blocktrade Markets (accessed on 30 August 2025).

Feedback from investors in Facebook groups (e.g. post from 12 August 2025), accessed on 30 August 2025.

Blocktrade Terms of Use – Withdrawals section (‘User may immediately withdraw all Assets …’), as well as product pages on ECS (‘Transfer eCredits easily to and from the eWallet App’);

Own enquiry to Blocktrade S.A. dated 27 August 2025; no response as of 31 August 2025.

Own research, enquiry to Blocktrade, as of 31 August 2025