Steve Condos statement “One of our projects is backed by the Royal Family of Dubai"
WeWe Global, a company that previously ran a Ponzi scheme called WEWEX, launched two new products in late 2021: LyoFI and LyoPay. The company also introduced a new token called LYO, which was used to operate a Ponzi scheme promising a 300% return on investment.
The most charitable interpretation is that someone convinced TPO (The Private Office) to invest in a tech project. The goal of the investment fund is to be an early investor in everything, including gas, oil, renewable energy, bitcoin mining, and to encourage investment and technical progress in Dubai. It's the same idea as Silicon Valley Venture Capitalists who invest in thousands of different projects and take a stake in each, hoping that at least one will become a successful business.
PROTOCOL33 is a global organization developed by experienced and passionate entrepreneurs who have been experts in the FinTech and Blockchain industries for over a decade, although their domain name has only been registered since February 2022. Interestingly, both domain names, ".global" and "protocol33.io," were registered by the same registrar, Namecheap.com.
Additionally, Lyotechlabs hosts the "protocol33.io" and "zenit.world" websites.
PROTOCOL33 has been incorporated in partnership with the Private Office of His Highness Sheikh Hamdan Bin Ahmad Al Maktoum.
This Video Investigates the Validity of a Project Backed by the Royal Family of Dubai: Is it Legitimate or Another Elaborate WEWE Global and LYOPAY Scam?
TIME STAMP / CHAPTERS
- Introduction 00:00:00
- Report A Scam 00:03:30
- Steve Condos 00:04:50
- Protocol33 00:05:50
- Zenit.world 00:06:30
- WHOIS lookups 00:11:00
- Crypto Tex (CTEX) 00:15:00
- Luiz Góes 00:17:00
- Email To The Private Office 00:17:55
- TOPPs article on Luiz Góes 00:20:00
- Crypto Sharks @cryptosharks7056 00:33:00
- WEWE GLOBAL 00:37:30
- WEWE GLOBAL Shocking Terms & Conditions 00:40:00
- WEB 3.0 Cloud Minting Problems 01:02:15
- Tony Mark-Seymour 01:08:34
- Conclusion 01:14:10
HERE ARE THE LINKS
* YouTube video: https://youtu.be/G2NdxDGoGbg?t=6790
* PROTOCOL33 website: https://www.protocol33.io
* Zenit website: https://www.zenit.world
* WHOIS lookup for protocol33.io: https://who.is/whois/protocol33.io
* WHOIS lookup for zenit.world: https://who.is/whois/zenit.world
* WHOIS lookup for lyotechlabs.com: https://who.is/whois/lyotechlabs.com
* WHOIS lookup for wewe.global: https://who.is/whois/wewe.global
* Office of His Highness Sheikh Hamdan Bin Ahmad Al Maktoum Investment website: https://www.shkhamdaninvestment.ae
* Luiz Góes LinkedIn profile: https://www.linkedin.com/in/luizgoeslyo/
* TOPPs article on Luiz Góes: https://cryptofroyobro.substack.com/p/topps-luiz-goes
* Crypto Sharks @cryptosharks7056 video: https://youtu.be/LJu8ngCkJ6E
EMAIL TO THE PRIVATE OFFICE
We would like to bring to your attention a matter regarding a company named Lyopay/WeWe Global and its CEO, Mr. Luiz Góes, who has made claims of being the "Advisor Digital Officer" for the Private Office of His Highness Sheikh Hamdan bin Ahmed Al Maktoum for a period of eight months, spanning from November 2021 to June 2022.
Mr. Luiz Góes LinkedIn https://www.linkedin.com/in/luizgoeslyo/
As a reputable organization, it is imperative that we maintain the highest level of integrity in our dealings and partnerships. In light of this, we would appreciate it if you could confirm the veracity of Mr. Góes' claims and clarify if Lyopay/WeWe Global is indeed a project backed by Protocol33 or by Dubai Royal Family.
Your prompt response to this matter would be greatly appreciated.
Danny de Hek
WEWE Global is a company that claims to be transparent but is not registered in its country of operation, does not list its directors or disclose its revenue, and has terms and conditions that allow it to terminate accounts and confiscate money.
The company is not registered with the NZ FMA to offer investments in New Zealand, and it's unclear whether it is a legitimate business or a scam that will inevitably collapse.
The company's executives may be charismatic, but meeting them does not validate the company or provide recourse if things go wrong.
If the scheme collapses, there may be no legal recourse through normal civil justice channels since the company is allegedly registered in Seychelles as Digitech WorldWide Inc, a shell company of which Baiba Broka is probably not a director.
While it's uncertain whether everyone in the organization knows that the company is a scam, it is suspects that many members are deluded.
‘5.2.1. WEWE Global DAO provides WEWE tokens, which can only be used internally on our Platform.’
The presentation indicates that LFI is the token being used, which differs from the information presented here.
‘9.1.10. IWA hereby acknowledge and agree that he/she understands and accepts that WEWE Global DAO is not liable for any delivery, delay or loss of products or subsequent losses resulting from such delays or any negligent acts.’
This means that if WEWE Global were to perform any negligent acts that cause loss to the members, they would not be held responsible according to the agreement. Therefore, it appears that the members are agreeing to accept the risk of such negligent acts, which could potentially cause them loss, and this is a matter of concern.
‘9.1.11. IWA shall not respond to any press enquiries concerning WEWE Global DAO Services, our marketing plan, or any other matter related to our activities or Services. IWA is obliged to immediately forward all the press enquiries to WEWE Global DAO.’
This raises the question of why the company would want to stop journalists from interviewing members and writing articles about their activities if they truly were transparent as they claim to be. This also relates to the issue discussed at 16.30.
‘13.2. Each new prospect who is known as an IWA Reseller has the right to choose who he/she buys his/her Training and Rewards Package from. An IWA shall not unduly influence or in any way entice prospects with representations as to possible income or business development, or payment of any compensation by an IWA or the WEWE Global DAO.’
this is exactly what WEWE Global does, despite claiming to adhere to this policy. Additionally, the agreement mentions a "Training and Rewards Package," which is different from what was presented in the Cloud Minting Package in the presentation. It's possible that this is a remnant from a previous scam.
‘14.3. All payment related to the referral program shall be done by BTC, Ethereum, WEWE token or USDT to Clients.’
The statement highlights that while not all cryptocurrency use is fraudulent, criminals tend to favor it because of its difficulty to trace. This clause specifically mentions that all payments related to the referral program must be done using BTC, Ethereum, WEWE token, or USDT.
‘16.23. WEWE Global DAO products and Services may be presented face-to-face at home-based parties or other events, online parties, webinars or other online presentations, only in compliance with the Platform’s advertising policy and in compliance with the relevant Copyright legislation. The IWA agrees and accepts that WEWE Global DAO is not responsible and cannot be held liable for any advertising materials disseminated by the IWA and any established violations of the ethical rules stipulated in these Terms and all other legally related official documents, shall be subject of sanctions, including immediate suspension of the IWA’s account for a period of 14 days and/or imposition of a fine up to €50000.’
The consequences for violating these rules can be severe, with fines of up to €50,000 and the suspension of an IWA's account for a period of 14 days.
‘16.27. In the course of carrying out the business activities, IWA is not authorized to make negative, disparaging or otherwise unlawful, disrespectful comments about any competing or other third-party companies, brands, logos or other trademarks. WEWE Global DAO strictly prohibits disparage other WEWE Global DAO IWAs, products and/or Services and the Referral Bonus Plan.’
It's worth noting that constructive criticism that doesn't violate any laws or ethical guidelines is still allowed, and it's possible to express concerns or offer feedback in a respectful and professional manner.
‘18.3. In the event WEWE Global DAO has reasonable grounds to believe that IWA is conducting any business activities with the competitive referral companies, in such circumstances, IWA’s account will be temporarily or permanently suspended or terminated without prior notice.’
The language used in this clause does suggest a strict approach by WEWE Global DAO towards IWAs who engage in business activities with competing referral companies. However, it is important to note that most companies have policies in place to protect their business interests and prevent conflicts of interest. It is also important for individuals to carefully consider the terms and conditions of any agreement they enter into before making any investments.
‘23.1. In the event of any breach of these Terms for the first time, we shall send a written warning notice to the relevant IWA with a deadline of maximum 10 days to rectify the breach. In the event, the provided grace period expires and the same or a fundamentally identical breach of obligations is committed, or if the originally protested breach is not remedied, IWA agrees to pay a contractual penalty of €9,500 immediately and IWA shall be responsible for reimbursing all attorneys’ fees associated with its collection.’
Agreeing with this statement could be dangerous as it puts the IWA at risk of being penalized heavily if they inadvertently or unknowingly breach any of the terms of the agreement. The contractual penalty of €9,500 is a significant amount of money and could lead to financial difficulties for the IWA if they are unable to pay it. Additionally, the requirement to reimburse all attorneys' fees associated with the collection of the penalty further adds to the potential financial burden.
The main danger with this statement is that WEWE Global DAO can suspend, freeze, restrict, cancel or terminate an IWA's access to any or all of their Services and Platform without notice or liability for various reasons. These reasons include suspicion of prohibited use or business, suspicion of suspicious activity or transaction, involvement with competitors, and violation or breach of any of the terms, policies, or rules related to WEWE Global DAO. The danger is that an IWA may lose access to their account and any funds or rewards associated with it without warning or explanation, potentially causing significant financial harm. Additionally, the broad language used in this statement leaves it open to interpretation, which could be exploited by WEWE Global DAO to terminate an IWA's account for reasons other than those stated in the terms and policies.
‘25.11. In the event of cancellation/termination of the account, any benefits, payments, and/or Services received by either party must be returned according to the refund and cancellation policy.’
The main danger with this statement is that it implies that the company has the power to cancel or terminate an account at any time, without notice or liability. This means that if a user's account is canceled or terminated, they may lose any benefits, payments, or services that they have received, even if they have not violated any terms or policies. Additionally, the refund and cancellation policy may not be favorable to the user, so they may not be entitled to a full or fair refund of any money or cryptocurrency that they have invested. Overall, this statement highlights the lack of transparency and fairness in the company's policies and practices, which can put users at risk of losing their investments without recourse.
‘31.4. WE ARE NOT RESPONSIBLE OR LIABLE FOR MAINTAINING ANY MEMBER DATA OR FOR THE DELETION, CORRUPTION, DESTRUCTION, DAMAGE, LOSS OR FAILURE OF ANY MEMBER DATA…’
The clause stating that WEWE Global DAO is not responsible or liable for maintaining any member data and for the deletion, corruption, destruction, damage, loss or failure of any member data is ridiculous. Every organization that has customers or members is responsible for maintaining data on them, including WEWE Global DAO, which has to keep track of how much crypto each member owns. Real companies value their customer data highly. If WEWE Global DAO 'loses' their member data, they don't consider it their problem, but it would be a significant problem for the members as they would be unable to log in to their accounts, convert their crypto, or withdraw any funds.
‘38. GOVERNING LAW
These Terms shall be governed by and construed in accordance with the applicable Seychelles laws and regulations.
This statement means that the terms and conditions of WEWE Global DAO will be subject to Seychelles laws and regulations. This can be dangerous for members who are not familiar with the Seychelles legal system or may not have access to legal resources in that jurisdiction. It is important for members to carefully review and understand the implications of agreeing to be bound by Seychelles laws and regulations before joining WEWE Global DAO.
‘41. CLASS ACTION WAIVER
The IWA and WEWE Global DAO agree that, to the extent permissible by Law, all claims must be brought in a party’s individual capacity, and not on a class, representative or collective basis, and the parties hereby agree to waive all rights to have any dispute be brought, heard, administered, resolved or arbitrated on a class, collective, or representative basis. Disputes of more than one IWAs cannot be arbitrated or consolidated with those of any other IWAs. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including WEWE Global DAO. Further, IWA acknowledges that, by agreeing to these Terms, IWA and WEWE Global DAO are each waiving the right to a trial by jury and the right to participate in a class action.’
This clause means that the IWA and WEWE Global DAO agree to waive their rights to have any dispute be brought, heard, administered, resolved, or arbitrated on a class, collective, or representative basis. Instead, all claims must be brought in a party's individual capacity. This means that if an IWA has a dispute with WEWE Global DAO, they cannot participate in a class action lawsuit or arbitration with other IWAs who have similar claims. They also waive their right to a trial by jury.
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