The Blockchain Period has obtained a “suspected Ponzi and pyramid scheme” warning from New Zealand.
As per the Monetary Market Authority’s November thirteenth warning;
WEWE International (also referred to as The Blockchain Period) and LYOPAY are providing cryptocurrency services and products through webinars and public occasion in New Zealand.
We observe they don’t seem to be registered on the Monetary Service Suppliers Register or regulated for offering their providers and merchandise to New Zealand retail shoppers, as required by the Monetary Service Suppliers (Registration and Dispute Decision) Act 2008 and Monetary Markets Conduct Act 2013.
Because of The Blockchain Period committing securities fraud, the FMA goes on to
advocate exercising warning when coping with these entities.
The Blockchain Period is the fourth reboot of the collapsed WeWe International Ponzi scheme. LyoPay, LyoTrade and LyoWallet are related shell firms.
WeWe International launched in 2021. The first iteration was as easy MLM crypto Ponzi constructed round WEWEX tokens.
When the WEWEX Ponzi collapsed, WeWeGlobal launched LyoFI and LyoPay (presumably LyoTrade got here alongside in some unspecified time in the future too).
This reboot additionally noticed Luiz Goes come out of the shadows, as CEO of the Lyo* firms.
The second iteration of WeWe International was the identical Ponzi scheme, this time constructed round LYO tokens. When that collapsed in the direction of the tip of 2022, a third reboot was launched via LFI token.
Following a securities fraud from New Zealand in February 2023, WeWe International’s third Ponzi reboot collapsed in August 2023.
SimilarWeb tracked ~106,000 visits to The Blockchain Period’s web site in November 2023.
48% of The Blockchain Period web site visits have been from Italy, 13% from Greece, 9% from Germany, 6% from the Czech Republic and 5% from Croatia.