The ShynXL Ponzi scheme has collapsed.
Buyers first started reporting ShynXL withdrawal issues on or round September 2021.
A message on ShynXL’s web site states withdrawals have been to be reinstated on September 1st, 2021.
That deadline got here and went. And that was the final anybody heard of ShynXL or its founders.
ShynXL co-founders Ahmed Hussain, Mohammed Moin Uddin and Nasir Uddin Mozumder (aka Nasiruddin Mozumder and Mohammed Nasir Uddin Mozumder) seem to have gone into hiding.
So far as I can inform any beforehand accessible social media profiles have been deleted. The standing of Hussain, Uddin and Mozumder is unclear.
ShynXL’s official FaceBook web page was deserted in August 2021.
ShynXL was modelled after the collapsed PGI International Ponzi scheme.
As per BehindMLM’s June 2021 ShynXL overview, associates invested as much as $1,000,000 on the promise of a 200% ROI.
The MLM facet of ShynXL operated as a pyramid scheme.
At time of publication ShynXL’s web site continues to be on-line. As per Alexa nonetheless, site visitors to the positioning plummeted shortly after ShynXL collapsed.
Across the time it collapsed, ShynXL was busy pillaging traders throughout Africa.
It’s wanting like a clean-sweep at this stage. I’ll preserve a watch out for any additional developments.