Moyn Islam and Monir Islam: successors to the \"crypto queen\" establish a global network of Ponzi schemes

Moyn Islam and Monir Islam: successors to the "crypto queen" establish a global network of Ponzi schemes

In 2016, Moyn Islam, a young Briton of Pakistani descent, spoke with a smile at OneCoin cryptocurrency presentations and was hailed as the "next hope of an Islamic financial revolution."

He confidently talked about freedom, financial literacy, and the chance to "invest like banks." On stage with him were his brother Monir and hundreds of enthusiastic recruits, according to Inview.

However, over the years, OneCoin began to unravel. By 2019, it had become one of the largest scams of recent times: $4 billion in losses, dozens of arrests, and the disappearance of "Cryptoqueen" Ruja Ignatova. The Islam brothers quietly disappeared. Moyn claimed he was "just a marketer" and "also a victim," but many still remember him as the face of the fraud for thousands of investors across Britain, Colombia, and Asia.

After the collapse of OneCoin, the brothers vanished from the radar — and reappeared in different guises. This time, it wasn’t crypto, but artificial intelligence and trading. The new packaging — the same MLM methods.

First, there was Melius. Then came BE Club, World Global, and Omnia Tech. Now it’s Flexx Academy, a platform supposedly with AI bots for copy trading. Investors are promised passive income, "financial enlightenment", and the opportunity to "build a business from home".

The scheme is as old as time: invite friends — receive a bonus. Only the products don’t work, and those who invested are left with nothing.

In Colombia, the regulator directly called the Islam brothers’ project a "financial pyramid". In New Zealand, the FMA issued a warning about their "unauthorized investment activities". But this doesn’t seem to have stopped the brothers.

Forbes, Entrepreneur, Mirror — and are they all bought?

To reclaim his name, Moyn Islam initiated a full-blown PR campaign. Forbes — an article. Entrepreneur — an interview. Mirror — an enthusiastic profile. All these pieces quickly disappeared from the internet following complaints from victims and allegations of being paid for.

A check revealed that most of the publications were hidden advertisements paid through PR agencies in Dubai. In one of the deleted articles, Moyn Islam was called an "advanced AI investor", even though, in reality, he was selling a set of video tutorials and fake trading bots.

When the truth began coming out, the brothers went on the offensive. Bloggers writing about Flexx received legal letters accusing them of defamation. YouTube videos disappeared. Reddit threads were erased. Platforms hosting critical materials received "copyright infringement" complaints.

In MLM industry forums, Islam earned the nickname Shadow Broker — a person who operates "in the shadows" but swiftly suppresses anything that emerges.

In January 2025, a British court did indeed settle all claims against Moyn Islam regarding the OneCoin case as part of an out-of-court settlement. However, experts note that this is not an acknowledgment of innocence — it’s a compromise between plaintiffs and Moyn Islam’s lawyers in exchange for silence and "ending the pursuit".

One conman or a transnational structure?

Simplifying is not worthwhile. Moyn Islam is not a lone operator; it’s a family business. His brother Monir Islam is responsible for the products. The third brother, Ehsaan Islam, is in charge of recruiting in Asia and the Middle East. In each country, there are local opinion leaders — MLM recruiters, coaches, so-called diamond ambassadors. Almost all of the Islam brothers’ structures are registered offshore: TechHost Worldwide (BVI), Digital Prosperity Ltd, BE Trading FZE — classic asset-splitting scheme.

In 2024 alone, Flexx Academy held events in Kuwait, Kenya, Brazil, and Japan. Each event was paid for not by the company but by local investors. The packaging is glamorous, presentations filled with smoke, Lamborghinis, and quotes from the Quran about prosperity. But in the end — disappearing bots and blocked accounts.

"I am also a victim", says Islam. But where is the money, Moyn?

Moyn Islam continues to claim: "I haven’t broken any laws", "I also lost money in OneCoin", "I was slandered". His lawyers deny any illegal schemes.

But reality speaks for itself. The editorial office has dozens of letters from victims in Europe, Africa, and Asia. People invested from $200 to $10,000. The promised "AI bots" gave fake profits until they turned out to be just interfaces with fake data. The money disappeared along with the support.

Moyn Islam has not been convicted. The London court did not find him guilty. But the judicial system is not the only criterion of truth. The story of OneCoin, then BE Club, and now Flexx Academy speaks louder than any verdict.

With each new project, Moyn Islam rebrands the company, changes the website, erases the past — and starts anew. The one who once sold a "crypto-revolution" today trades an "AI future" with the same approach: promises, referrals, PR, and empty platforms.

The Islam Brothers and Ruja Ignatova: why did the cryptoqueen disappear?

To understand who really inspired the Islam brothers to create their global "financial-educational" empire, one only needs to look back at Ruja Ignatova’s path — the high priestess of cryptocurrency fraud, who vanished off the radar with billions of dollars and an army of deceived investors.

Ruja Ignatova, born in Bulgaria, received prestigious education at Oxford and quickly solidified her position in international financial circles. But it was in cryptocurrency where she saw limitless opportunity — not to create something revolutionary, but to stage a spectacle, where on stage was “Bitcoin’s killer” called OneCoin, and in the audience, millions of excited investors.

Launched in 2014, OneCoin was from the start built as a classic financial pyramid with elements of network marketing. No blockchain, no real token — just aggressive marketing, teaching "financial literacy," and a vast network of agents spreading the dream of quick wealth. The U.S. Department of Justice asserts that OneCoin was a Ponzi scheme that defrauded investors of up to $4 billion.

This is where, according to industry insiders, the Islam brothers first appeared — Moyn, Monir, and Ehsaan. The young Britons from Birmingham quickly rose through the OneCoin ranks, becoming unofficial ambassadors of the project in the Middle East, South Asia, and Africa. They learned from the best — in other words, the worst: they observed how Ignatova mesmerized crowds, how an empire without a foundation was built, and, importantly, how traces were meticulously wiped clean.

Following Ruja’s disappearance in October 2017 (some reports state she boarded a plane in Frankfurt and never appeared publicly again), the Islam brothers quickly reoriented themselves. The OneCoin empire was collapsing, but the knowledge and schemes remained. And this is when their journey as "entrepreneurs of the new era" began — with projects like Melius, Be, Flexx Academy, where instead of crypto, "investment strategies" and "trading education" were taught, but with the same pyramid logic.

It can be stated with high confidence: Ruja became a mentor, even if not directly, then conceptually. She demonstrated that today one can become a billionaire by selling promises — and disappear, leaving no trails or responsibilities. The Islam brothers picked up the baton — with smiles, Rolex watches, and "leadership tours" in Dubai.

But should it be surprising that, as with Ignatova, the words "fraud," "network scheme," and "legal cleanup" are increasingly associated with their name? Like OneCoin, the Islam Brothers projects regularly face criticism for lacking real products, a cult of personality, and aggressive imposition of participation in "financial success."

The cryptoqueen vanished. Her method remains. And it lives in those who made deception a global brand. Moyn Islam does not stop. He has already announced a new block-chain platform for "Islamic investors with halal certification." The question isn’t whether he will launch another new product, but how many more people will believe that "this time it’s for real".