The ShynXL Ponzi scheme has collapsed.

Investors first began reporting ShynXL withdrawal problems on or around September 2021.

A message on ShynXL’s website states withdrawals were to be reinstated on September 1st, 2021.

That deadline came and went. And that was the last anyone 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) appear to have gone into hiding.

As far as I can tell any previously available social media profiles have been deleted. The status of Hussain, Uddin and Mozumder is unclear.

ShynXL’s official FaceBook page was abandoned in August 2021.

ShynXL was modelled after the
collapsed PGI Global Ponzi scheme
.

As per BehindMLM’s June 2021
ShynXL review
, affiliates invested up to $1,000,000 on the promise of a 200% ROI.

The MLM side of ShynXL operated as a pyramid scheme.

At time of publication ShynXL’s website is still online. As per Alexa however, traffic to the site plummeted shortly after ShynXL collapsed.

Around the time it collapsed, ShynXL was busy pillaging investors across Africa.

It’s looking like a clean-sweep at this stage. I’ll keep an eye out for any further developments.

🤖 Quick Answer

What is the ShynXL Ponzi scheme?
ShynXL was a fraudulent investment scheme that collapsed in September 2021. Co-founders Ahmed Hussain, Mohammed Moin Uddin, and Nasir Uddin Mozumder disappeared after failing to reinstate promised withdrawals. The scheme was modeled after the collapsed PGI Global Ponzi scheme and operated through social media platforms before abandoning its official Facebook page in August 2021.

Why did ShynXL investors lose access to their funds?
Withdrawal problems emerged in September 2021 when the scheme's operators announced a reinstatement deadline of September 1st, 2021. This deadline passed without action, and the co-founders subsequently disappeared into hiding, making their whereabouts and status unknown to authorities and affected investors.

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