Nykaa Mall Review: Stolen identity “click a button” Ponzi
Nykaa Mall fails to provide ownership or executive information on its website.
Nykaa Mall’s website domain (“nykaa-mall.vip”), was registered with bogus details on September 5th, 2024.
Nykaa Mall has already attracted the attention of financial regulators. The Central Bank of Russia issued a Nykaa Mall pyramid fraud warning on September 6th, 2024.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Nykaa Mall’s Products
Nykaa Mall has no retailable products or services.
Affiliates are only able to market Nykaa Mall affiliate membership itself.
Nykaa Mall’s Compensation Plan
Nykaa Mall affiliates invest tether (USDT). This is done on the promise of advertised passive returns:
- VIP1 – invest 10 USDT and receive 3 USDT a day
- VIP2 – invest 30 USDT and receive 10 USDT a day
- VIP3 – invest 120 USDT and receive 40 USDT a day
- VIP4 – invest 350 USDT and receive 120 USDT a day
- VIP5 – invest 850 USDT and receive 305 USDT a day
- VIP6 – invest 1950 USDT and receive 730 USDT a day
- VIP7 – invest 3950 USDT and receive 1520 USDT a day
- VIP8 – invest 7950 USDT and receive 3200 USDT a day
- VIP9 – invest 16,500 USDT and receive 6900 USDT a day
- VIP10 – invest 34,500 USDT and receive 17,000 USDT a day
Nykaa Mall pays referral commissions on invested USDT down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 17%
- level 2 – 3%
- level 3 – 2%
Joining Nykaa Mall
Nykaa Mall affiliate membership is free.
Full participation in the attached income opportunity requires a minimum 10 USDT investment.
Nykaa Mall Conclusion
Nykaa Mall is yet another “click a button” app Ponzi scheme.
Nykaa Mall misappropriates the name and branding of Nykaa, an Indian beauty wellness and fashion retailer.
Needless to say Nykaa Mall has nothing to do with Nykaa the Indian retailer.
Nykaa Mall doesn’t bother coming up with a ruse. This makes it a typical “task-based” Ponzi scheme.
The assigned task in Nykaa Mall is “orders”. This sees Nykaa Mall affiliate investors log in daily to “click a button”.
Clicking the button daily qualifies Nykaa Mall investors to receive daily returns.
Beyond that clicking a button inside Nykaa Mall does nothing, there is no external revenue. All Nykaa Mall does is recycle newly invested funds to pay earlier investors.
Examples of already collapsed “click a button” app Ponzis using the stolen identity ruse are Lime Mall, Noon Mall and You Cubez.
Since 2021 BehindMLM has documented hundreds of “click a button” app Ponzis. Most of them last a few weeks to a few months before collapsing.
“Click a button” app Ponzis disappear by disabling both their websites and app. This tends to happen without notice, leaving the majority of investors with a loss (inevitable Ponzi math).
Organized crime interests from China operate scam factories behind “click a button” Ponzis from south-east Asian countries.
In September 2024, the US Department of Treasury sanctioned Cambodian politician Ly Yong Phat over ties to Chinese human trafficking scam factories.
Through various companies he owns, Phat is alleged to shelter Chinese scammers operating out of Cambodia.
Regardless of which country they operate from, the same group of Chinese scammers are believed to be behind the “click a button” app Ponzi plague.
Update 23rd September 2024 – Nykaa Mall has collapsed. As at the time of this update Nykaa Mall’s website is no longer accessible.
