The Ponzi scam known as ShynXL has failed.
Investor complaints about ShynXL withdrawal issues started surfacing in or around September 2021.
On September 1, 2021, withdrawals were to be resumed, according to a notice on the ShynXL website.
The due date has passed. That was the last time the public heard about ShynXL or its creators.
Ahmed Hussain, Mohammed Moin Uddin, and Nasir Uddin Mozumder (also known as Nasiruddin Mozumder and Mohammed Nasir Uddin Mozumder) are the co-founders of ShynXL and appear to have disappeared.
Any previously accessible social media profiles, as far as I can determine, have been removed. Uncertainty surrounds Hussain, Uddin, and Mozumder’s situations.
The official Facebook page for ShynXL was deleted in August 2021.
ShynXL was modeled after the busted Ponzi scam PGI Global.
According to BehindMLM’s ShynXL evaluation from June 2021, affiliates put up to $1,000,000 into the program with the promise of a 200% ROI.
ShynXL’s MLM division functioned as a pyramid scam.
The ShynXL website was still accessible at the time of publishing. However, according to Alexa, the site’s traffic drastically decreased soon after ShynXL failed.
At the time of its demise, ShynXL was actively robbing investors throughout Africa.
At this point, it appears to be a clean sweep. I’ll be watching for any new developments.