These companies were founded by Hubert Freidl. In many countries, Lyoness/Lyconet is already illegal and in some countries even banned as a pyramid scheme. Members are recruited with the idea of cashback, fed into the pyramid scheme and currently encouraged by myWorld’s IPO fantasies to exchange investments they have already made for worthless fake shares.
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Blocktrade SA: Gamification, crypto dreams – and a powder keg for investors?
From the outside, Blocktrade SA looks like the next big thing in the European crypto market: a gamified trading platform, planned crypto payments in retail, an expansion towards Nasdaq. But a closer look reveals a company with shaky finances, a strategy that has changed several times and a questionable exit perspective, a case study in […]
Balance Programme Reloaded: old promises, but who still believes them?
As the crisis surrounding Lyconet and myWorld continues to escalate, those in charge are visibly trying to keep the business alive. The latest Zoom call provided a prime example of the familiar mechanisms: motivation, big promises and repeated calls for action. Hubert Freidl, who has increasingly taken over the presentation of the Balance programme himself […]
Ponz schemes: prohibited but often not punishable – a legal paradox
Ponz schemes are infamous: they promise high profits but are ultimately based on new deposits from participants until the system collapses and the majority lose their money. However, while they are prohibited by law in many countries, they sometimes go unpunished. How can that be? Prohibited, but only under civil law The German Unfair Competition […]
Lyconet/myWorld: Another conviction as a pyramid scheme – OGH confirms questionable practices
In its judgment of 22 January 2025 (3 Ob 189/24a), the Austrian Supreme Court (OGH) in Vienna once again dealt with the Lyconet/myWorld business model – and once again the alarm bells are ringing. In a current case regarding the reclaim of marketer funds, the court ruled that the company is a prohibited pyramid scheme. […]
Blocktrade & BioNexus: The Illusion of a Rescue?
While Blocktrade announces ambitious plans for an IPO, the focus is increasingly on BioNexus Gene Lab Corporation, a struggling company that is itself fighting for survival. Sam Tan is not only presented as a director of Blocktrade, but is also CEO of BioNexus, a company already listed on NASDAQ. It is also rumoured that BlockTrade […]
Crisis ignored, show staged: old patterns instead of new solutions
Crisis management or act of desperation? Hubert Freidl, founder of Lyconet and myWorld, is back in the spotlight – a remarkable development. Internal sources report that he was actually supposed to withdraw from operational areas. But now he is personally holding Zoom calls as if nothing had happened. This sudden return raises questions, because Freidl […]
Current Blocktrade update – basic knowledge about a dubious network of FinTech, speculation and lack of transparency
‘Dear Block Trade Community…’, this is how the announcement of another Block Trade update begins. But before the community turns its attention to the latest developments, some basic information about eCredits and Block Trade should be considered. The crypto world is a field of tension between innovation, risk and a lack of transparency. Two companies […]