LFI aka L Finance is the new scam token released by notorious Ponzi scheme organization, WeWe Global. Last year, they focused on promoting their previous token called LYO, which was part of their LYOPay ecosystem.
However, as time went on, the popularity of that Ponzi scheme has dwindled and now WeWe Global has begun working on releasing a new sham token.
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Their previous token attracted a lot of negative attention because of its shady nature and poor returns.
Lyopay made many ridiculous claims to promote itself. However, it seems the token failed to get as popular as they had wanted it to be. WeWE Global claimed to offer 300% ROI with the Lyo coin but at the time of writing this LFI io review, that token is on a path to collapse.
They have set up “LFI.io” as the domain for L-Finance which they registered in September 2022. Clearly, the venture is entirely new.
What is a Ponzi Scheme?
A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.
More About the LFI IO Crypto Token:
The website of L-Finance Crypto shows that they are launching a BEP-20 token. Such tokens are nearly free to launch and don’t take much effort to set up.
Like the notorious Lyo crypto token, the L-Finance or LFI io crypto token is making outrageous claims about the returns it can offer as well. The company is claiming to offer 2857.14% returns to its affiliates within a month.
Currently, they require affiliates to sign up by investing a certain amount to purchase L-Finance tokens. Alternatively, affiliates have the option to convert their existing LYO tokens into LFI tokens as well.
However, these tokens only remain valuable until the platform gets new affiliates (aka victims). When the quantity of new affiliates starts slowing down, the payouts start slowing down. It’s a common issue among ponzi schemes which is why they fail most of the time.
The website of LFI IO is not attracting much traffic at the moment. However, sources indicate that LyoPay’s recruitment has slowed down considerably in Argentina, Italy and Greece.
Expect to see LFI IO setup itself as a crypto token on multiple exchanges and platforms within the next few weeks. Moreover, when the L-Finance token will collapse, WeWe Global wil start launching another crypto token.
Explaining the Shady PastL-Finance and LFI IO:
To understand how dangerous this scam is, you only have to look at the past of WeWe Global and Lyopay.
The CEO of the crypto MLM scheme is Luiz Goes.
At LyoPay, he claims to allow customers to become a part of a vast ecosystem consisting of various aspects including LyoTrade, Lyo Credit and LyoTravel.
The company runs a crypto exchange called LyoTrade which doesn’t have any reputed licenses except a Seychelles one. It’s worth noting that having a Seychelles and BVI license is not a good sign because both of those places are notorious for their lenient regulations.
Moreover, the company claims to have an office in the UK but it’s only a virtual address and the company doesn’t have a license from the FCA to offer financial services there.
In other words, the company is operating illegally and has attracted a lot of negative attention because of its problems.
There are countless reviedws from its victims and it wouldn’t be surprising to see such reviews for LFI (L-Finance) in the future.
LFI Io aka L-Finance is a reskin of the notorious LyoPay scam run by WeWe Global. Now that their LYO Credit token is collapsing, the MLM scam organization has relaunched the fraudulent scheme to steal more.
Don’t invest in this sham token. Avoid investing in LFI IO aka L-Finance.