LFi Pivot
WEWE Global Exit Scam Details Revealed
In a previous article we made the case that WEWE Global was pivoting to LFi as part of an exit scam. With an ever decreasing set of people buying into the Ponzi, the pivot was announced at the start of August, a full six months after we predicted it.
Here is the information communicated as part of the notoriously suspicious DAO proposal process
To address the DAO challenges, we propose restructuring Wewe Global with LFi GROUP corporate structure. This incorporation will provide us with effective legal representation, ensuring compliance with regulatory requirements and minimizing legal risks. Additionally, LFi Group's experienced team will implement a comprehensive brand protection strategy, safeguarding our intellectual property and brand identity. The incorporation will also introduce a solid corporate image and structure, lending credibility and professionalism to our organization.
The announcement came among a flurry of other proposals, summarised below:
A new platform website launched on September 4th for the purpose of Cloud Minting and a new look Referral Program
Users experiencing missing payments for Cloud Minting production will be resolved “shortly”
The LFi to USDT cryptocurrency-to-cryptocurrency swap service will be discontinued.
A refresh of all KYC (Know Your Customer) information
It should come as no surprise to those familiar with how the WEWE Global scam operates that a new Cloud Minting agreement also came into effect, keeping the perfect streak of no WEWE Global offering ever reaching maturity (300 days, 900 days etc.) alive.
This moving of the goalposts approach was captured perfectly in this anecdote reported in Danny Dehek’s Crypto Ponzi Schem Avenger telegram group
This doesn’t seem like an isolated incident as the WEEW Global DAO chat reveals
If you are reading this and are having second thoughts on your investment, our advice is to withdrawal from the program as gracefully as possible without becoming a promoter of the Ponzi scheme yourself.
If you have introduced a family or friend to the scam and want to keep that relationship, be up front with them now while they can still recoup some of their investment.
We’ll report back on how this scam evolves in September, but until then we’ll capture the WEWE Global Migration Guide with a set of screenshots below, to track any modifications as the inevitable delays are announced.
DO NOT INVEST YOUR MONEY IN WEWE GLOBAL
DO NOT INVEST YOUR MONEY IN LFi
THEY ARE MULTILEVEL MARKETING SCHEMES
THEIR OFFERINGS CANNOT STANDUP TO SERIOUS SCRUTINY
DON’T RISK YOUR SAVINGS ON FALSE PROMISES
NO MATTER HOW CONVINCING THE SALES PITCH
If I had been investing or gambling with WEWE Global I would be taking my money out as soon as possible here's a post we got from someone who had invested with them who was trying to get their money out.
This is a good message from a WEWE investor…
hi I just wanted to give you information, a friend convinced me to invest 6000€ in WEWE global but realized soon after that it’s probably a scam so ever since i started withdrawing “earned” LFI coins monthly and converting them to BTC and storing in another wallet not in WEWE. now, after having gotten 4000 out they suddenly stopped the possibility for me to convert LFI to Bitcoin. every where it says that I can only convert to WEWEX-C. i’ve been searching all platforms and websites to see if other users are experiencing the same thing, but it seems only with me. i ask their Support and raised a ticket on how I can covert this WEWEX-C to Bitcoin and was told that there is no way to do this. my conclusion: i guess after they realized that i am not reinvesting anything anymore and am withdrawing my lfi coins and converting to bitcoin regularly and taking it out of their platform, they limited my acccess. i only lost 2000€ but still very angry that these scams exist. i should have known better but instead, relied on trusting my friend
This is another modus operandi of WEWE. you earn LFI which you can only convert to WEWEX-C which is useless and cannot be converted to Bitcoin or taken out of their platform