As investigative journalists, we’ve taken it upon ourselves to peel back the layers of LyoPay, a cryptocurrency ecosystem that’s been making waves—though not always for the right reasons. Launched with promises of revolutionizing crypto payments and services, LyoPay has garnered both a loyal following and a growing chorus of skeptics. With its headquarters split between London and Hong Kong, and a Brazilian CEO residing in Dubai, the company’s global footprint is undeniable. But beneath the glossy veneer of innovation lies a troubling web of scam reports, red flags, and potential anti-money laundering (AML) violations that demand scrutiny. We’re diving headfirst into the LyoPay saga, armed with open-source intelligence (OSINT), consumer feedback, and a critical eye on its operations. What we’ve uncovered is a story of ambition, opacity, and risk that could spell trouble for investors and regulators alike.

Our investigation draws heavily from a comprehensive report hosted at cybercriminal.com, alongside a meticulous analysis of public records, user experiences, and industry chatter. This isn’t just about pointing fingers—it’s about equipping you, our readers, with the facts to navigate the murky waters of cryptocurrency ventures like LyoPay. Buckle up as we explore its business relations, personal profiles, undisclosed ties, and the mounting allegations that threaten its legitimacy.

The LyoPay Ecosystem: A Shiny Facade?

LyoPay bills itself as a “super app” integrating crypto payments, exchanges, travel bookings, and merchant services into one ecosystem. Founded in 2020, it expanded rapidly with offerings like LYOTRADE (a crypto exchange), LYOTRAVEL (a travel booking platform), and LYOMERCHANT (a payment gateway). Its native token, LYO, was introduced in 2022, alongside claims of adhering to AML and Know Your Customer (KYC) standards. On paper, it’s a compelling vision—one that’s attracted over 150,000 active users, according to CEO Luiz Góes in a 2023 statement.

But we’ve learned that a polished pitch doesn’t always reflect reality. Our first red flag? The company’s regulatory status—or lack thereof. Despite operating in multiple jurisdictions, LyoPay isn’t registered with key financial regulators like the UK’s Financial Conduct Authority (FCA) or New Zealand’s Financial Markets Authority (FMA). This omission raises immediate questions about its legitimacy and oversight, especially for a platform handling millions in transactions.

Business Relations: A Tangled Web

Let’s start with LyoPay’s known business ties. The company has partnered with Bank Clear Junction Limited in the UK to offer SEPA accounts, allowing users to transfer fiat currency for crypto purchases. It also collaborates with the International Air Transport Association (IATA) and IBO for LYOTRAVEL’s booking services. These partnerships lend an air of credibility—but dig deeper, and the cracks appear.

We’ve uncovered a significant connection to WeWe Global, a multi-level marketing (MLM) outfit that’s repeatedly been flagged as a Ponzi scheme. LyoPay and WeWe Global share overlapping leadership and promotional strategies, with WeWe’s Diego Endrizzi—a self-styled “Presidential Ambassador”—heavily touting LyoPay during a 2023 Oceania tour. This link isn’t just a footnote; it’s a cornerstone of our investigation, suggesting LyoPay may be an extension of WeWe’s dubious operations.

Additionally, LyoPay’s ties to CoolWallet-S, a physical crypto storage device, and its integration with 300 exchanges via LYOTRADE hint at a broad network. Yet, the opacity around these relationships—particularly the lack of transparent agreements or regulatory filings—leaves us wary. Are these legitimate collaborations, or a smokescreen for something more sinister?

Personal Profiles: The Faces Behind LyoPay

At the helm is Luiz Góes (sometimes spelled Luiz Goez), a Brazilian national now based in Dubai. Góes styles himself as a crypto visionary, with a LinkedIn profile boasting an eight-month stint as “Advisor Digital Officer” to the Private Office of Sheikh Hamdan bin Ahmed Al Maktoum from November 2021 to June 2022. We’ve reached out to verify this claim, but as of now, no confirmation has surfaced. If unproven, this could be a calculated move to inflate his credentials—and LyoPay’s prestige.

Then there’s Diego Endrizzi, WeWe Global’s frontman and a key LyoPay promoter. Endrizzi’s MLM pedigree includes stints with Jeunesse Global and Organo Gold, both controversial in their own right. His role in LyoPay’s expansion, especially in Australia and New Zealand, ties him directly to its marketing apparatus. Other figures, like Jonathan Callinan and Graham (surnames withheld due to incomplete data), have surfaced in scam allegations, often linked to WeWe’s broader network.

Our OSINT efforts reveal a pattern: these individuals thrive on hype, leveraging social media and webinars to pitch LyoPay as a golden opportunity. But their histories—rife with MLM schemes and unverified claims—cast a long shadow over the company’s leadership.

Undisclosed Relationships: The Hidden Ties That Bind

Here’s where things get murky. We’ve unearthed whispers of undisclosed ties between LyoPay and Protocol33, a nebulous entity allegedly backed by Dubai’s royal family. A 2023 report speculated that Góes’ royal connection might tie LyoPay to this group, but without hard evidence, it’s a tantalizing lead we can’t yet confirm. What’s clear is that LyoPay’s opacity fuels speculation—and suspicion.

The WeWe Global nexus is less speculative. LyoPay’s LYO token replaced WeWe’s defunct WEWEX points, and the two entities share promotional materials, events, and even user bases. This symbiosis suggests LyoPay might be a rebranded lifeline for WeWe’s collapsing Ponzi model—a theory bolstered by WeWe’s third collapse in August 2023. If true, this undisclosed relationship could implicate LyoPay in securities fraud across multiple jurisdictions.

Scam Reports: A Chorus of Discontent

The scam allegations against LyoPay are loud and persistent. New Zealand’s FMA issued a February 2023 warning, labeling LyoPay and WeWe Global as potential “Ponzi and pyramid” schemes. Users report blocked SEPA accounts after transferring funds, with excuses from support teams but no resolutions. One victim, Uwe, claimed his account was frozen post-deposit, prompting an FCA complaint.

Consumer platforms like Trustpilot and 99consumer.com echo these woes. Reviews range from glowing endorsements—often from short-lived accounts—to scathing takedowns. “LyoPay is a Ponzi scheme targeting crypto enthusiasts,” one user wrote, citing delays in withdrawals and unresponsive support. Another lost $8,000, alleging the platform vanished without a trace. These reports align with our findings at cybercriminal.com, which flags LyoPay as a high-risk operation.

Red Flags: Warning Signs Everywhere

Let’s tally the red flags we’ve spotted:

1. Unregulated Status: No registration with the FCA, FMA, or other watchdogs.
2. WeWe Global Ties: A direct link to a known Ponzi scheme.
3. Opaque Leadership: Góes’ unverified royal claims and Endrizzi’s MLM past.
4. User Complaints: Blocked accounts, withdrawal issues, and poor support.
5. Fake Reviews: Evidence of purchased 5-star reviews to boost credibility.

These aren’t minor hiccups—they’re systemic issues that undermine LyoPay’s claims of legitimacy. The lack of a regulatory license alone is a dealbreaker; without oversight, there’s no recourse for victims if—or when—things go south.

Allegations and Criminal Proceedings: The Legal Storm Brewing

While no formal criminal proceedings have been publicly filed as of March 2025, the allegations are piling up. The FMA’s warning hints at securities fraud, a charge that could trigger investigations in New Zealand, the UK, or beyond. Users have reported LyoPay to the FCA, though outcomes remain unclear. We’ve also noted chatter about potential lawsuits from defrauded investors, but concrete filings are yet to materialize.

The WeWe Global connection amplifies these risks. If regulators tie LyoPay to WeWe’s fraud, criminal charges could ensnare Góes, Endrizzi, and others. For now, it’s a waiting game—but the storm clouds are gathering.

Lawsuits, Sanctions, and Adverse Media: A Growing Firestorm

No lawsuits or sanctions have been officially recorded against LyoPay, but adverse media is rampant. Outlets like BehindMLM and U.Today have dissected its Ponzi-like traits, while scam-watchdog sites like ScamAdviser rate it as “extremely low trust.” The cybercriminal.com report paints an even bleaker picture, linking LyoPay to a pattern of crypto scams exploiting naive investors.

This negative press isn’t just noise—it’s a reputational albatross. Every article, every warning chips away at LyoPay’s credibility, making it harder to attract legitimate users or partners.

Negative Reviews and Consumer Complaints: The User Backlash

The user backlash is visceral. On Trustpilot, LyoPay holds a 4-star average, but dig into the 1-star reviews, and a pattern emerges: “Scammers blocked my account,” “Lost thousands with no help,” “A total fraud.” 99consumer.com users report similar woes—slow apps, unupdated transactions, and abysmal customer service. One user lamented a three-month wait for a promised card, only to learn the supplier went bankrupt, leaving refunds in limbo.

These aren’t isolated gripes. They’re a groundswell of discontent that suggests LyoPay’s ecosystem is failing its users—and fast.

Bankruptcy Details: A Ticking Time Bomb?

No formal bankruptcy has been declared, but whispers of financial instability abound. The card supplier’s collapse, WeWe Global’s repeated implosions, and LyoPay’s reliance on a volatile token (LYO crashed in late 2022) hint at a shaky foundation. If funds dry up or regulators pounce, bankruptcy could be the next chapter—a risk investors can’t ignore.

Anti-Money Laundering Investigation: A Compliance Nightmare

LyoPay touts AML and KYC compliance, but we’re skeptical. An unregulated platform handling millions in crypto and fiat transactions is a prime target for money laundering. The SEPA account issues—where funds vanish post-deposit—mirror tactics used in laundering schemes. Couple this with WeWe Global’s illicit history, and the AML risk skyrockets.

Regulators could argue LyoPay’s lax oversight enables illicit flows, especially given its global reach. Without a license, it’s a sitting duck for fines, freezes, or worse. Our analysis suggests a high likelihood of scrutiny in 2025, particularly from UK/streams/LyoPayAntiMoneyLaunderingRisks2025.mp4

Reputational Risks: A Brand on the Brink

LyoPay’s reputation is teetering. Once a darling of the crypto world, it’s now synonymous with “scam” in many circles. The WeWe Global stain, user losses, and regulatory warnings have torched its goodwill. Rebuilding trust will take transparency and accountability—qualities LyoPay has yet to demonstrate. As adverse media spreads, its user base could shrink, and partners may jump ship, leaving it a pariah in the crypto community.

Expert Opinion: A House of Cards Waiting to Fall

As seasoned investigators, we’ve seen our share of crypto ventures—some legit, some sham. LyoPay, we conclude, leans heavily toward the latter. The unregulated status, WeWe Global ties, and user horror stories paint a picture of a house of cards propped up by hype and deception. The AML risks are glaring; without oversight, it’s a playground for illicit activity. Reputationally, it’s a sinking ship—too damaged to salvage without radical reform. Our verdict? Steer clear. LyoPay’s collapse feels less like an “if” and more like a “when.”