Deceived, deceived, failed: When hope obscures one’s own failure

Manipulation through hope

In the past, there was talk of unprecedented positive development. Today, the call is more for personal initiative: ‘Shop! Redeem your points, because that’s the most sensible thing you can do to influence your own stocks and shares and your own dividends!’ This suggests to marketers that they are personally responsible for their success – by continuing to put money into the system. However, the retailer network remains limited and the promised savings are insignificant compared to established cashback programmes. Anyone who believes that their own purchasing activity ensures the stability of the company is falling for a deliberate strategy.

From the outset, the company has raised hopes of high dividends, stock market gains and revolutionary business models – and expectations have been repeatedly disappointed. Now, a turnaround is expected from March 2025, but on what basis?

A company that has been financed almost exclusively by its members’ deposits for years cannot suddenly become a profitable shopping community. The model was never designed to generate profits through real trading. The dealer network remains patchy, the concept is immature, and there is simply not enough turnover to finance the entire structure and promised ‘dividends’. You only have to look at the company’s balance sheets; numbers don’t lie.

A failed IPO and questionable promises

The failed IPO of myWorld has already been admitted. Instead, an internal trading platform has been introduced – a now typical MLM ploy to create an illusion of liquidity. But internally traded shares have no real market value. Without a regulated stock exchange listing, myWorld alone determines whether and when values are paid out.

Another problem is the lack of transparency. A successful IPO requires detailed financial reports and regulatory standards that myWorld has not yet met. Instead, BlockTrade CEO Sam Tan is talking about a reverse merger with NASDAQ-listed company BioNexus to take myWorld public. However, BioNexus is facing delisting, which raises serious doubts about this strategy. We have also submitted enquiries to NASDAQ, SEC and FTC to clarify the links between BioNexus and the Lyconet/myWorld system.

A network of subsidiaries and failed projects

Lyconet/myWorld is entangled in an opaque network of subsidiaries. New companies are constantly emerging internationally, while old ones disappear without a trace or file for bankruptcy. A sign of a stable company? Hardly. The MediaBox also proved to be a flop. Despite grandiose announcements, there is no broad market penetration or economic success.

A typical pattern: existing bonuses and points are repeatedly transferred into new formats without any real payouts. Instead of plain text, there is emotional rhetoric about ‘people close to our hearts’, ‘mutual strength’ and ‘special cohesion’ – a deliberate manipulation to prevent critical questions.

The truth behind 20 years of distributions

One particularly questionable claim: ‘We are entitled to a distribution for 20 years.’ But there is no guarantee that any payments will be made at all. No voting rights, dependent on AGM resolutions, no regulated market – all conditions can be changed at any time.

The strategy is obvious: marketers are to be fobbed off so that the cash flow doesn’t dry up. However, those who continue to believe in the promises risk getting even more deeply involved in an unsustainable system.