The Blockchain Era Ponzi pyramid warning from New Zealand
The Blockchain Era has received a “suspected Ponzi and pyramid scheme” warning from New Zealand.
WEWE Global (also known as The Blockchain Era) 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 and Financial Markets Conduct Act 2013.
As a result of The Blockchain Era committing securities fraud, the FMA goes on to
recommend exercising caution when dealing with these entities.
The Blockchain Era is the fourth reboot of the collapsed WeWe Global Ponzi scheme. LyoPay, LyoTrade and LyoWallet are associated shell companies.
WeWe Global launched in 2021. The first iteration was as simple MLM crypto Ponzi built around WEWEX tokens.
When the WEWEX Ponzi collapsed, WeWeGlobal introduced LyoFI and LyoPay (presumably LyoTrade came along at some point too).
This reboot also saw Luiz Goes come out of the shadows, as CEO of the Lyo* companies.
The second iteration of WeWe Global was the same Ponzi scheme, this time built around LYO tokens. When that collapsed towards the end of 2022, a third reboot was launched through LFI token.
SimilarWeb tracked ~106,000 visits to The Blockchain Era’s website in November 2023.
48% of The Blockchain Era website visits were from Italy, 13% from Greece, 9% from Germany, 6% from the Czech Republic and 5% from Croatia.