The Blockchain Era has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).
As per ASIC’s April 23rd warning, Xera
is likely to be offering financial services to Australian consumers.
It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.
Offering securities without registration with ASIC constitutes securities fraud under Australian law.
The Blockchain Era was the fourth reboot of the thrice-collapsed WeWe Global Ponzi scheme.
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.
Following a securities fraud from New Zealand in February 2023, WeWe Global’s third Ponzi reboot collapsed in August 2023.
In early 2024 The Blockchain Era collapsed. The scam continued as Xera by combining with the also collapsed Safir International and Success Factory Ponzi schemes.
ASIC issued a separate Xera securities fraud warning on April 23rd.