myWorld International AG, formerly Lyoness, was declared insolvent in Europe on August 5, 2025, following a 2023 bankruptcy filing with €110M in debt, per Reuters. The Graz-based MLM, owned by Hubert Freidl, now faces €22.7M in debt ($26.2M USD), €50M in unpaid taxes ($57.8M USD), and only €15M in assets ($17.3M USD), per @oe24at. With 2,049 creditors, including tax authorities, and €5M tied to MLM “vouchers,” declining purchase activity has gutted revenue, per El País. A restructuring hearing in Austria revealed plans to pay 20% of debts within two years, slashing 116 jobs, per Cointelegraph. Freidl, inactive on social media since September 2024, appears to have vanished amid the fallout, per @CryptoSlate.
Founded in 2003 as Lyoness, myWorld evolved from a Ponzi-like “accounting units” scheme to a pyramid scheme, per Spain’s National Police findings in Operation Peldano, which led to the July 2025 arrest of Joaquin Garcia de la Brena, per Reuters. Despite bans in Norway (2018), Italy (2019, €6.2M fines), Poland, Russia, and Liechtenstein (2021), Austrian authorities have not acted, per Cointelegraph. myWorld’s cashback model, promising rewards for purchases and recruitment, collapsed under scrutiny, with 528,000 website visits in September 2023 reflecting waning interest, per SimilarWeb. @MLMWatchdog notes creditor lawsuits, including a class action, are piling up, with €5M in voucher liabilities tied to unfulfilled MLM promises, per @oe24at.
Under Austria’s insolvency laws, myWorld’s restructuring plan, offering a 20% payout over two years, requires majority creditor approval, per www.usp.gv.at. Assets will be managed by an administrator, with the debtor retaining limited control, per CMS Expert Guides. The plan aims to sustain operations, but 2,049 creditors and a €73M liability gap (€88M total vs. €15M assets) signal a tough road, per Northdata.com. The crypto market’s $3.6T rally, led by Bitcoin ($114,635) and Ethereum ($3,553), per CoinPedia News, contrasts with myWorld’s woes, as investors shift to BTC and ETH ETFs ($588.6M and $71.2M inflows), per SoSoValue. Trump’s tariffs and weak U.S. jobs data (73,000 vs. 100,000 expected) add macro pressure, per CNN.
Creditors should join class actions via firms like BE Conflikt Management, which represents thousands seeking refunds, per www.bekm.us. Investors should avoid MLM schemes like myWorld or Pruvit, verifying projects on CoinMarketCap, per Reuters. Bitcoin ($111,000 support) and Ethereum ($3,541) offer safer bets, per TradingView. Monitor SEC and Fed updates (89.1% rate cut odds) via @CoinDesk, as tariff escalations could disrupt markets, per Forbes. myWorld’s insolvency, with Freidl’s absence and Garcia’s arrest, signals a crumbling empire—steer clear and prioritize regulated assets.
