ShynXL dispatched in late 2020 and works in the digital currency MLM specialty.
ShynXL addresses it is consolidated in the UK, UAE, Europe, and Nigeria.
Note that with the end goal of MLM due-persistence, fundamental joining in any locale is aimless.
Heading up ShynXL are prime supporters Ahmed Hussain, Mohammed Moin Uddin, and Nasir Uddin Mozumder (also known as Nasiruddin Mozumder and Mohammed Nasir Uddin Mozumder).
Preceding helping to establish ShynXL, Ahmed Hussain acknowledged himself as a UK organizer of the PGI Worldwide Ponzi conspiracy.
Other Ponzi plans Hussain has advanced incorporate man-made intelligence Exchange and CashFX Gathering. Hussain was likewise an Eternity Living wholesaler.
In September 2020 PGI Worldwide designated Nasir Mozumder as an Expert Wholesaler for Ireland.
I couldn’t attach Mohammed Moin Uddin to PGI Worldwide.
In a ShynXL showcasing video notwithstanding, Uddin states he’s known Ahmed Hussain “for over just 25 years [sic]”, Nasir Mozumder for “quite a while too”, and that the triplet has worked “together for quite a while”.
PGI Worldwide fell back in Spring. It appears Ahmed Hussan and Nasir Mozumder changed out before the breakdown and proceeded to dispatch ShynXL.
Because of their individual online media profiles, Hussain, Mozumder, and Uddin all have connections to Bangladesh yet live in the UK.
In one ShynXL advertising video, Nasir Mozumder affirms the organization is “situated in the UK”.
An MLM organization working or professing to work out of the UK is a programmed warning.
The UK joining is very reasonable and adequately unregulated. On top of that the UK’s top monetary controller, the FCA, doesn’t effectively direct MLM-related protections misrepresentation.
Thus the UK is a supported purview for con artists hoping to fuse, work and advance false organizations.
Despite portrayals ShynXL is based out of the UK, the organization’s advertising recordings are shot in Dubai.
Dubai is another warning as again guideline is non-existent. Combined with an absence of removal settlements, the UAE has arisen as the MLM trick capital of the world since mid-2020.
ShynXL’s true Facebook page is overseen from Bangladesh, India, and the Philippines.
Alexa as of now fixes the solitary remarkable wellspring of traffic to ShynXL’s site as Bangladesh (48%).
ShynXL advancement in Bangladesh seems, by all accounts, to be initiated by “Shanto Hakim”:
ShynXL subtleties a “biological system” of items and administrations, everything except one of which has anything to do with their MLM opportunity; forex and crypto exchanges.
ShynXL members get 10% of day-by-day returns paid to by and by enlisted partners.
The return for capital invested Match is paid out until 100% of assets contributed by the member being coordinated is reached.
Copper and higher venture level members meet all requirements for shares in two extra pools; the Pioneers Pool and the Organizers Pool.
The Pool Reward has all the earmarks of being supported by 10% of withdrawals, up until a partner gets 100% of their contributed sum (200% absolute is paid out).
As well as contributing at Copper or higher, to fit the bill for the Pool Reward a ShynXL partner should select and keep ten offshoots who have each contributed at Copper or higher.
ShynXL partner enrollment is $20 in addition to an underlying $100 to $1,000,000 interest in bitcoin.
Like most Ponzi financial backers, ShynXL’s prime supporters have understood it’s more productive to run Ponzi plans than to put resources into them.
Thus falling off PGI Worldwide’s destruction, we have the dispatch of ShynXL.
In a ShynXL advertising video, Nasir Mozumder states;
We are in crypto and forex exchanging and we have the top-notch, probably the best merchant get-together. Furthermore, they are exchanging day and night for our individuals.
No proof of ShynXL taking part in an exchange is given.
All the more significantly, there is no proof of ShynXL utilizing outer income of any sort to pay withdrawal demands.
Moreover, neither ShynXL nor its prime supporters are enrolled to offer protections, in the UK or elsewhere on the planet.
This implies that at least ShynXL is submitting protections extortion.
The way things are the solitary certain wellspring of income entering ShynXL is a new venture.
Utilizing a new venture to pay existing associates a day-by-day return makes ShynXL a Ponzi scam.
Likewise with all MLM Ponzi plans, when offshoot enlistment evaporates so too will new speculation.
This will keep ShynXL from return for money invested income, ultimately provoking a breakdown.
The math behind Ponzi plans ensures that when they break down, most members lose cash.