WeWe Global & LyoPay Ponzi fraud warning from NZ

 WeWe Global and LyoPay have received a “ponzi and pyramid” fraud warning from New Zealand.

As per the Financial Markets Authority’s February 8th warning;

FMA are aware that WEWE Global and LYOPAY are offering cryptocurrency products and services via webinars and public event in New Zealand.

We note they are not registered on the Financial Service Providers Register or regulated for providing their services and products to New Zealand retail clients, as required by the Financial Service Providers (Registration and Dispute Resolution) Act 2008 Act and Financial Markets Conduct Act 2013.

We recommend exercising caution when dealing with these entities.

The FMA’s warning cites WeWe Global and LyoPay, operating from the domains:

• wewe.global
• lyopay.com
• lyowallet.com
• lyobanq.com
• lyotrade.com
• lyomerchant.com
• lyopay.pro
• lyotravel.com
• lyotechlabs.com
• LyoSwapBot (Telegram group) and
• lyocredit.io

We reviewed WeWe Global in July 2021. The first incarnation of the scam revolved around WEWEX Ponzi points.

In 2022 WeWe Global expanded its Ponzi scheme with LyoFI and LyoPay. This introduced LYO token to replace WEWEX.

LYO collapsed towards the end of 2022, prompting the launch of LFI token.

The FMA’s WeWe Global and LyoPay fraud comes amidst a February 4th to 15th “Oceania Tour“.

The “tour”, which consists of various marketing events targeting Australia and New Zealand, is headed up by Diego Endrizzi.