The Blockchain Period has acquired a securities fraud warning from the Australian Securities and Investments Fee (ASIC).
As per ASIC’s April twenty third warning, Xera
is more likely to offer monetary companies to Australian customers.
It doesn’t maintain an Australian monetary companies licence or Australian credit score licence from ASIC, and isn’t authorised by a licensee.
Providing securities with out registration with ASIC constitutes securities fraud underneath Australian legislation.
The Blockchain Period was the fourth reboot of the thrice-collapsed WeWe International Ponzi scheme.
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 sooner or later 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 top of 2022, a third reboot was launched by LFI token.
Following a securities fraud from New Zealand in February 2023, WeWe International’s third Ponzi reboot collapsed in August 2023.
In early 2024 The Blockchain Period collapsed. The rip-off continued as Xera by combining with the additionally collapsed Safir Worldwide and Success Manufacturing unit Ponzi schemes.
ASIC issued a separate Xera securities fraud warning on April twenty third.