Buyer Beware

LYOPay and LYOTrade – Crypto Scams By Luiz Goes

LYOPay is a ponzi scheme by the notorious WeWe Global. They claim to have entered the market in 2020. 

According to their website, their address is 1/1A Telegraph Street, 2nd Floor, EC2R 7AR.

It’s worth noting that it’s a virtual address. Six other companies operate from the same address, indicating LyoPay doesn’t have an actual office. 

lyopay coin

The company offers multiple services including LyoTrade, LyoTravel, LyoWallet, LyoFi, LyoSwap, and LyoCredit. 

All of them claim to offer distinct benefits and features. 

The developer of the LyoPay app is DigiLyo App Ltd – UK. 

Apart from the virtual office address in the UK, they claim to have an office in Ireland. However, a huge red flag is the country from which they issue their “coins”. 

lyopay review

The LyoPay coin issuer, according to their website, is based in the British Virgin Islands. 

It’s an offshore location with negligible regulations, allowing scammers to launch fraudueltn schemes easily. 

Connection Between LyoPay Coin and WeWe Global:

LyoFI is another component of the overall LyoPay ecosystem. According to their website, LyoFI is a staking and mining platform that lets you generate passive income.

The owner of LyoFI is DigiFI group Ltd, based in the British Virgin Islands. DigiFI Group Ltd is a part of DigiTech Services Ltd, a shell company under the ownership of WeWe Global. 

lyopay coin

WeWe Global is based in Dubai, which has recently become the hub of the latest MLM and cryptocurrency scams. 

However, they have marketed themselves heavily in Italy, Turkey, Greece and South America.

WeWe Global ran a large ponzi scheme which seems to have shut down by last fall. Furthermore, it seems they have re-launched their ponzi scheme through LyoPay and LyoCredit.

Who is LyoPay CEO? 

The LyoPay CEO is Luiz Goes aka Luiz Goez. He claims to be a Brazilian who resides in Dubai. 

lyopay ceo

It’s worth noting that LyoPay itself was practically dead as a brand until the last few months. 

lyopay login

Their timing coincides with the MLM scam of WeWe Global picking up traction in 2022. 

Furthermore, LyoFI offers a 900-day daily returns fraudulent scheme which is quite similar to the past Ponzi scheme of WeWe Global. 

It’s the same staking scam which plagues the cryptocurrency industry. LyoPay is using the LyoCredit token (LYO) to run this scam. 

WeWe Global used to run the same shady scheme but the name of the token was WEWEX token at the time: 

lyopay ceo

However, the scheme failed and now the MLM company is promoting a new scam through LyoFI and LyoPay. 

Here, they offer 10 different investment tiers. They start from €100 and go up to €100,000. 

lyopay ceo

LyoPay claims you will be able to get 300% ROI within 900 days of investing in LyoFI. 

They claim to pay you withdrawals in LYO tokens which you should be able to convert into bitcoin. 

Clearly, the ability to withdraw funds will only last until they have the investor’s funds. 

As soon as the investors stop putting in funds into the ponzi scheme, you wouldn’t be able to withdraw any money. 

Recently, the customers of Celsius failed this problem. The cryptocurrency holding firm froze the accounts of all of its customers, causing them to lose millions. In response, the customers have filed a class action lawsuit against the owner Alex and his wife, Krissy Mashinsky

More Red Flags in LyoPay: 

Before LyoPay partnered with the notorious scammer, WeWe Global, they weren’t getting any customers. Certainly, the partnership has helped them boost their marketing efforts. 

The LyoPay CEO, Luiz Goez claims that the investors of LyoFI can earn 60% returns a year. 

However, it’s possible to show these returns on paper as he can create LYO tokens on whim. 

Luiz Goes will make money as long as you invest. On the other hand, you will start facing problems once you try converting LYO into bitcoin or any other usable currency.

There are several signs indicating there was a connection between the  LyoPay CEO and WeWe Global. 

For example, LyoPay ecosystem contains LyoTravel where they claim you will be able to make travel bookings by using LYO tokens in the future. 

WeWe Global used to offer a similar package to its investors through Travel4You. 

Maybe their original fraudulent scheme was set up within the LyoPay ecosystem. Luiz Goes used to promote WeWe Global schemes just a while ago: 

Another huge red flag is how he is connected to the different “Digi” companies which own LyoPay and its subsidiaries:

  1. LyoPay: DigiLyo App Ltd
  2. WeWe Global: DigiTech Services Ltd
  3. LyoFI: DigiFI Group Ltd

Weak License of LyoTrade: The Crypto Exchange

LyoTrade is a notable part of the LyoPay ecosystem. 

According to its website, it will be a crypto exchange with low fees and high returns. However, the broker is licensed in Georgia, a notorious offshore location. 

Offshore locations include the likes of British Virgin Islands, St. Vincent and Grenadines and Georgia. They are havens for forex and crypto scams due to the lack of proper regulation. 

lyotrade

Considering how LyoPay claims to be based in the UK, it should have a license from the FCA.

However, searching for them in the FCA’s register doesn’t generate any results. 

In other words, LyoPay and its ecosystem firms either have weak licenses or no licenses at all. 

Some scams which have offshore licenses include Eurotrader and Tiger.Trade

Both of them have caused their users to lose hundreds and thousands of dollars. Always be wary of such scams. 

Conclusion

After reviewing the above points, it’s clear that LyoPay is a scam. 

The LyoPay CEO is Luiz Goes who used to promote the Ponzi scheme of WeWe Global before marketing this firm. 

Their claims sound too good to be true.

It’s quite common for crypto scammers to make attractive claims so they can get a ton of initial investors. Once they have a large number of investors, they are able to boost the value of their coin token.

Then, they sell all the tokens they own, causing the token’s value to diminish rapidly. 

The owners end up making money while the investors lose all of their investment. 

It seems like LyoPay is a similar scam. Hence, avoid. 

2 Total Score
Scam!

LyoPay is a scam targeting cryptocurrency enthusiasts. It’s a Ponzi scheme posing as a crypto exchange and platform. Their CEO has a history of promoting MLM scams and the company itself has multiple red flags.

2.4Expert Score
Trust
2.8
Experience
2
Transparency
2.2
Ethics
2.5
1.5User's score
Trust
1.7
Experience
1.5
Transparency
1.5
Ethics
1.4
PROS
  • None
CONS
  • MLM scam
  • Deceptive marketing
  • Shady leadership
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35 Comments
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  1. The sad thing, many people who fall for scams like Lyocredit or lyopay don’t know what they are getting into.

    They get all excited for it, thinking they have found a gold mine when in reality, they are just a victim of a methodical vicious scheme.

    When you try to tell them that they have fallen victim to a scam all they say is “you don’t know what you’re talking about” and brush you off. It’s sad.

  2. 0.6
    Trust
    20
    Experience
    10
    Transparency
    10
    Ethics
    10

    I also got scammed after losing $2300 but no one is helping me to get it back, not the police nor anyone.

    + PROS: NOne
    - CONS: My money is gone
    Helpful(0) Unhelpful(0)You have already voted this
  3. Thank u for making us more conscious about the scams.

  4. 1
    Trust
    20
    Experience
    20
    Transparency
    20
    Ethics
    20

    Friend invited me to his house for a lyocredit presentation.
    I grilled the presenter so hard that she started yelling at me and told me to leave all I was doing was picking at flaws in her logic. Was a proud moment for me.

    + PROS: nope
    - CONS: no doubt it's a scam
    Helpful(0) Unhelpful(0)You have already voted this
  5. 0.6
    Trust
    10
    Experience
    20
    Transparency
    10
    Ethics
    10

    I’ve been working with Lyocredit for a while now.

    The experience has been poor.

    They don’t help you much and you are all on your own.

    Also, almost all of their products and services are still under development and they don’t tell you when they will launch it.

    I have invested $1500 into this project so far and I am yet to earn anything back.

    After wasting weeks working with Lyopay and Lyocredit, I’m beginning to think they are a scam.

    No legit company asks you to deposit $1500 and pays you nothing in return for free promotion.

    + PROS: looks promising
    - CONS: Feels like scam lost $1500 already most of the products are under development
    Helpful(1) Unhelpful(0)You have already voted this
    • I wouldn’t mind hanging out in a world that looks exactly like an animated film where ventures like this make you money but then again, that’s a delusional thought. You shouldn’t have invested in this get rich quick scheme in the first place. Most people with a brain know LYOPay is a scam.

    • I don’t blame you man. Many people get into the Crypto market thinking they are going to become millionaires while others keep slave away for 20 years yet have nothing to show for it. Everyone has their strategy, risk tolerance, and desired outcome. Still I feel sorry for your loss man. Not every crypto company is legit after all.

  6. 4.1
    Trust
    90
    Experience
    80
    Transparency
    80
    Ethics
    80

    LMAO

    You guys are all fools. No wonder all of them will stuck in the rat race and stay poor your whole lives

    Most people remain poor only because friends and relatives discouraged and advised them against investing and trading Forex while the wise ones kept investing and growing higher financially.

    Helpful(0) Unhelpful(2)You have already voted this
  7. 0.75
    Trust
    10
    Experience
    20
    Transparency
    20
    Ethics
    10

    I was also once a part of Lyopay lyocredit whatever. I am happy that I realised it in time and didn’t go ahead to have my friends and family buy something that was just an unnecessary and outdated education package.

    Helpful(0) Unhelpful(0)You have already voted this
  8. To me, the entire pitch of Lyocredit and their ecosystem around Lyo this and Lyo that sounds like gambling.

    None of the things they mention are functioning atm. How do they think people will trust them then?

  9. 0.85
    Trust
    10
    Experience
    10
    Transparency
    30
    Ethics
    20

    I was obsessed with Lyocredit and had joined the company with high hopes.
    Now I hate that I was a part of that community and thought it was going somewhere.
    I think there is a lot of promise but the structure is and there is some mess. They took over ₤500 from me.

    Helpful(0) Unhelpful(0)You have already voted this
  10. 0.6
    Trust
    10
    Experience
    20
    Transparency
    10
    Ethics
    10

    Recently someone contacted me and told me about network marketing. I was amazed by those fancy things but then I had a gut feeling that something is fishy. I told him I am busy and can’t do this. I am happy that God saved me from falling into an ambush.

    Helpful(1) Unhelpful(0)You have already voted this
  11. Sometimes I wonder how people make huge profits investing in the stock market. I know investing is a legitimate way to gain financial freedom but how is it done?

  12. My advice to anyone interested in lyocredit:

    When someone is told to leave to attend a seminar for a business opportunity, accept the invitation, eat food as much as you can take home if possible but never sign up for anything, tell them you will think about it and repeat the cycle for the next invitation.

  13. 0.75
    Trust
    20
    Experience
    20
    Transparency
    10
    Ethics
    10

    Luiz Goes needs to be thrown in jail. He is running a global fraudulent scheme. I know several people who have invested in lyocredit and think it is a legit company. It is just sad.

    Helpful(2) Unhelpful(0)You have already voted this
  14. 0.6
    Trust
    20
    Experience
    10
    Transparency
    10
    Ethics
    10

    I wasted last 2 months of my life trying to get success with lyopay which turned out to be a pyramid scheme that got to hurt me the most is that I ended up losing a lot of my friends. WeWeGlobal needs to be investigated for running this ponzi scheme. There is no way what they are doing is legal. Luiz goes deserves to be in jail.

    - CONS: Fraud shceme
    Helpful(1) Unhelpful(0)You have already voted this
  15. 0.75
    Trust
    20
    Experience
    10
    Transparency
    20
    Ethics
    10

    What most people don’t understand is that successful people don’t become that way overnight. What most people see at a glance, wealth, a great career, and purpose are the result of hard work and Hustle over time. I pray that anyone who reads this will be successful in life.

    Helpful(0) Unhelpful(0)You have already voted this
  16. Reply
    Lyocredit is a pyramid scheme
    September 10, 2022 at 6:29 pm
    0.6
    Trust
    20
    Experience
    10
    Transparency
    10
    Ethics
    10

    “do you want to get rich quick?”
    “Do you wanna work at home and make lots of money fast?”
    “It’s a multilevel marketing business”.
    This is called the pyramid scheme which is being used by many different companies to scam people in the name of giving distinct offers to earn heavy.
    Once I also got entangled in such a scheme and lost over Rs 3,00,000

    Helpful(1) Unhelpful(0)You have already voted this
  17. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    One guy from lyocredit contacted me claiming to be a broker.

    I was dumb enough to invest EUR 3000 with them. Now they are not calling me back.

    I am so depressed because that was all the funds I had in my wallet.

    Helpful(1) Unhelpful(0)You have already voted this
  18. 0.6
    Trust
    20
    Experience
    10
    Transparency
    10
    Ethics
    10

    Lyocredit is a fake platform. They don’t give pay to their customers.

    Helpful(3) Unhelpful(0)You have already voted this
    • Do not remember the name of the movie but this quote stuck with me forever “this is a free market, not a free world”. You don’t get anything for free bro. Lyocredit is lying in its brochures.

  19. 0.6
    Trust
    10
    Experience
    10
    Transparency
    20
    Ethics
    10

    Fraudsters..they don’t even have a license 👎👎👎👎

    + PROS: Scammer
    - CONS: 👎
    Helpful(3) Unhelpful(0)You have already voted this
  20. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    Someone from Lyocredit/lyopay approached me and said when it comes to investing we want our money to grow with the highest rate of return and the lowest risk possible. Then recommended me to invest in Lyopay. I should have known that here are no shortcuts to Getting Rich but there are smarter ways to go about it. They stopped replying after I invested EUR 5000 with them.

    Helpful(0) Unhelpful(0)You have already voted this
  21. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    I wish I found this review before. Lyocredit has my money and won’t give it back to me. They keep ignoring me and my agent says there is nothing he can do about it. So I guess the money is gone? But it was a lot and there should be some sort of explanation for why they don’t give it back to me. There shouldn’t be some excuse for it. I feel scammed.

    + PROS: .
    - CONS: .
    Helpful(3) Unhelpful(0)You have already voted this
  22. Amount of college kids I have met thinking they had made it big by putting their launch into Crypto is staggering. It’s the younger people who are very susceptible to things like Bitcoin and will put enormous faith in it.

  23. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    Do they expect you to work for free???

    I have been working for Lyopay for 8 to weeks now and there haven’t been any income for me whatsoever.

    I invested $2500 into this and there should have been some sort of returns for me but no there wasn’t. There is no salary either.

    They want you to sell lyopay to others hoping they will also invest and you will get a percentage from that. The thing is, I have spent a lot of money already on travel and meetings. When you want someone to invest this much, you need to spend time with them and that takes money. I am already in stress because of the $2500 investment and the meetings have cost me another $1000. So I have lost $3500 in total.

    Helpful(3) Unhelpful(0)You have already voted this
  24. 0.6
    Trust
    20
    Experience
    10
    Transparency
    10
    Ethics
    10

    I’ve heard of Lyopay. But I know that MLM pyramid schemes and other types of fraud are rampant because of its extreme capitalism and consumerism. I came close to Lyocredit and stopped talking to those people after realising the truth. Thank you whoever posted this review.

    + PROS: none
    - CONS: scam
    Helpful(0) Unhelpful(0)You have already voted this
  25. Ultimamente ho guardato molti video pro bitcoin e non riesco a scrollarmi di dosso la sensazione che molte di queste persone siano molto investite e stiano cercando di convincere gli altri a fare lo stesso in modo che il loro investimento non si accumuli. Immagino che lo stesso valga per chi investe in truffe come Lyocredit. Non c’è nessun altro motivo per cui abbiano questo successo.

  26. My sister was part of a pyramid scheme when she worked for that health supplement company thrive it got to the point where some of her close friends were blocking her on social media because she kept posting about needing recruits to continue earning money when we asked her why she started she answered with because the product actually works and the person who recruited me just bought a car off a dealers lot with the money she made (the recruiter didn’t buy a brand new car she bought a retired Rental).

  27. 0.6
    Trust
    10
    Experience
    20
    Transparency
    10
    Ethics
    10

    They are not replying to my msgs….My money is stuck with Lyocredit. They promised to give me 30% return but they are not paying at all. What do I do? How do I get my money back?

    + PROS: None
    - CONS: Took money but don't pay Lies
    Helpful(9) Unhelpful(0)You have already voted this
  28. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    Lyocredit is just another MLM scam. Investors will lose their investments no doubt.

    Helpful(8) Unhelpful(1)You have already voted this
  29. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    I invested in Lyopay 2 months ago. But they haven’t payed me. When I ask my upline says I need to recruit people but so far only 1 person has joined and lyopay didn’t pay me that share. This is total scam.

    + PROS: Good marketing
    - CONS: Bad product No payments
    Helpful(9) Unhelpful(1)You have already voted this
  30. 0.5
    Trust
    10
    Experience
    10
    Transparency
    10
    Ethics
    10

    Lyo credit is a huge scam. They took €10000 from me and haven’t given me a single return.

    + PROS: No
    - CONS: Scam
    Helpful(10) Unhelpful(1)You have already voted this
    • To those who would allow the market timing dynamism to determine when to trade or not, or are either new in space in general or probably just naive, the world has seen far worse time than these enlightened traders continue to make good use of the dip and pump even requiring more equities towards trading sessions I had to say that more emphasis should be put into trading since it is with profitable than holding.

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