Lyoness Pyramid Scheme Review: Scam and Illegal Crypto MLM
Lyoness pyramid scheme (also known as CB Cashback World, Lyconet and recently MyWorld) appears to be gearing up towards launching ”eCredits”. Technical specifications for the ”eCredits” have not been published yet. Also, pyramid schemes are the easiest way to lose money on the internet. I would rather mine Bitcoin or learn how to make money by trading stocks and Cryptocurrencies.
Anyway, I was able to come across their promotional materials on YouTube where it was revealed that Lyoness pyramid scheme was intending to launch eCredits which would then be integrated into Lyoness’ eCommerce platform.
Apart from that, they intend to sell eCredits for 1 EUR each. This eCredit investment is being promoted as an opportunity for making 10,000% return on investment in just 4 years.
This image suggests that Lyoness is planning to launch the eCredit for 1 EUR and hoping that price will increase to 10,000 EUR in the forth year.
There is no basis for this dramatic rise in the price of Lyoness eCredits other than the expectations that affiliates will continue to invest in their eCredits.
You could say that their eCommerce platform is a solid basis for the projected rise in the price of their eCredits. Considering the fact that the use of this eCommerce platform is limited only to registered Lyoness merchants/affiliates, we can be sure that the value of these points won’t rise significantly even if we waited 10 years from now.
Lyoness Reviews: How does Lyoness work?
Lyconet’s marketing content on YouTube suggests that there are only 3 ways to acquire the eCredits. We can:
1) Buy discounted vouchers or invest in Enterprise Cloud formerly known as Customer Cloud
2) Attend one of the Lyoness pyramid events where Eric Worre will be the speaker
3) Or qualify to get the ”President’s bonus”
Since 1 eCredit is worth 1 EUR, a 2000EUR investment which goes into the purchase of a ”discounted voucher” or an Enterprise Cloud position will yield 2000 eCredits or points.
The upcoming seminar will go down in Prague.
Rewards will be issued when you purchase 10 tickets at the cost of 1990 eCredits.
Lyoness merchants who attend the event will also be rewarded with 199 eCredits.
And now the President’s bonus will reward affiliates with millions of eCredits because they convinced thousands to join the pyramid scheme under them.
While the so-called eCredits are purported to be a form of value that can also be transferred to other users, those eCredits cost nothing to generate and are therefore worthless outside the Lyoness ecosystem.
Also, it is not clear whether this pyramid scheme will incorporate an internal exchange where users can cash out their eCredits.
Before we can even get there, affiliates can’t acquire eCredits at the moment. Lyoness says they are issuing them based on ”priority”.
My understanding is that this is their way of figuring out who to award the eCredits once they start creating them.
The Prague event was supposed to take place between the 24th to 26th of May 2018. Erric Worre claims on his social media pages that he is based in Prague. So I assume that it’s going down there as planned.
Lyoness Reviews: who is Eric Worre?
Eric Worre describes himself as a network marketing expert. He is widely regarded in the MLM industry. However, Lyoness pyramid is more of a concern because the Norwegian Gaming Board recently served them with a notice to cease and desist from carrying out further activities with regards to Lyoness’ operations.
Operation CryptoSweep recently gave notice of their intent to crack down on similar securities fraud on the internet.
Eric Worre, being a US citizen, will most likely brush shoulders with Operation CryptoSweep the wrong way. It is not yet clear whether he will announce the launch of the supposed eCredits at the Prague event.
Furthermore, Eric Worre or his entity Lyoness have not publicly announced whether they will register their eCredits as a Cryptocurrency with Securities regulators governing any of the jurisdictions they operate in.
On top of that, their marketing materials contain nothing with regards to regulatory disclosure and instead is hyping on how the value of these points will rise 10,000 fold in 4 years.