Bulleto Review: Is bulleto.io A Cycler Ponzi Scheme by Shivesh Kumar?
Bulleto is a Crypto project soliciting funds via claims of making 0.001BTC immediately after you sign up. Our bullet.io review exposes why this project is a high-risk investment option.
To participate in this project, there’s a fee of 0.002BTC payable in their BBOND token. It certainly doesn’t make sense to pay investors using an in-house token while BTC is globally recognized.
In fact, the fact that the platform claims to pay users using their BBOND token is a red flag. Clearly, Bulleto is using its false token to solicit funds from Bitcoin holders. And for much of the past few weeks, Bulleto has raked in thousands of BTC Users.
To ensure no one’s the wiser, Bulleto is shrouded with anonymity and mystery. That’s up until now when we investigated the platform to find out the people behind it. Despite their attempts to remain anonymous, we’ve got them by the balls.
From what we’ve seen, Bulleto has a clear strategy to restrict the outflow of BTC from its platform. Instead, the platform tries to cover this aspect by offering worthless in-house tokens such as BBOND, BLV, and SBOND.
These bonds are useless and most importantly, worthless. Outside Bulleto’s ecosystem, these tokens are not worth a dime. Investors are losing genuine BTC for worthless coins that have no value, even inside Bulleto’s ecosystem.
Here’s our detailed Bulleto Review
Want to dive deeper into this topic?
Connect with Val or one of his team of experts for personalized insights, one-on-one guidance, and tailored advice to help you navigate the complexities discussed in this article.
A Background check, introduction, and summary of Bulleto
The brains and financier behind Bulleto is Shivesh Kumar. We’ve uncovered other partners who are using Aliases to protect their identity. Shivesh is a UK resident and has held other such crypto MLM projects in the past.
We first came into contact with Shivesh after he introduced Crypto-T, a crypto MLM project promising 2.12% daily income. This was early 2019 with Malta officials putting him behind bars for 6 months for financial improprieties.
He bounced back in 2020 with BitRobot, a project claiming to guarantee a monthly ROI of 21%. This project targeted most of Europe with investors from the UK and Spain feeling the heat. The FCA issued an arrest warrant and Shivesh has been on the run ever since.
It came as a surprise when he finally reared his head with Bulleto, a crypto project targeting Asian investors. The platform claims to guarantee daily income margins as well as offer bonuses and commissions in terms of referrals.
Early bird investors flocked to get a piece of this platform with the launch held on September 5th, 2023. The project didn’t last long as of today, the website is currently under maintenance. We believe Shivesh and his team want to change the domain.
When this happens, it’s a sign the team wants to kick out current members. The new domain will have the same logo and services as well. It’s a way of running away with funds from investors without raising any alarms.
A promise of high returns by Bulleto
What attracts most investors to such projects is the guarantee of making daily returns. And the percentage numbers drive investors insane most even depositing life savings to fool investors. That’s one of the best ways to get funds easily for Crypto MLM project owners.
Investors on Bulleto made the mistake of not checking the actual worth of the ecosystem’s tokens. These tokens are worthless with two of them on the negative side. It goes to show that Shivesh is only after BTC holdings.
Withdrawing funds in BTC from Bulleto is a tall order. Attempts to withdraw funds in the form of BTC were what led Shivesh to shut down the first domain. Investors were unhappy with this and threatened to report the platform.
BBOND is a worthless token that acts as the main currency in the Bulleto ecosystem. With this token, investors get the promise of staking returns which have a minimum vesting period of 14 days.
The returns promised of staking BBOND is 13% with investors having to deposit 0.002BTC. When you do the math, this is actually a downgrade as there’s no other valuable crypto than Bitcoin.
A recruitment-based structure to lure victims to bulleto.io
Thanks to a recruitment based structure devised by Shivesh and his team, sign up numbers are increasing. And this in turn offers affiliates a chance to withdraw part of the listed ROI. Which Shivesh agrees for the most part, especially for early bird affiliates.
With this affiliate program, there are two targeted groups, investors who sign up, and marketers. Both of these target groups end up having a two-matrix level referral structure promising high returns with each referral.
The members sign up close family and friends with even some using their business savings to get in. Sadly for them, most end up losing a large chunk of their investment with the platform. It’s sad that investors never learn from other mistakes in the past.
With a heavy recruitment drive, Shivesh and his team have enough funds to carry on the operation for four months. Once these numbers dwindle down, the platform will start blocking withdrawals and completely shut down.
Cons of Bulleto
Before investing in any Crypto MLM platform, it’s best to do your homework. This means having to weigh the pros and cons of a platform before committing funds. And this brings investors a clear line of thought on any platform.
Let’s take a closer look at some of the cons we found with Bulleto
Community feedback
There’s little to no positive community feedback from investors who vested early with the project. And this goes to show how unattractive their services have been for the past few weeks in operation.
Lack of transparency
In any investment project, transparency is key as it offers investors a chance to become better. The platform in mind fails to deliver its promise with the creator hiding in plain sight. Shivesh rarely puts out any videos or events.
As an investor, you should have all the information pertaining a project. The team should also be available 24/7 for support. Information such as staking days and withdrawal process should be readily available on the website.
That’s not the case with Bulleto as investors have completely lost faith with the first phase. Shivesh is now moving to defraud investors in Bangladesh, India, and Pakistan. With the website not available, only reviews such as this one can give investors insight.
That’s why investors have to do research before falling into crypto MLM traps.
Regulatory issues facing bulleto.io
You’re to find out whether a platform is dully registered in your jurisdiction before committing funds. Without valid registration, it means the platform solicits funds without offering the laid out protection by authorities.
Bulleto fails to have any valid business registry which also points to a platform lacking deposit insurance. This means the owners can run away with funds at any particular moment with investors failing to get any compensation.
Unsustainable products and services
One of the key red flags to spot with Crypto MLM products and service providers such as Bulleto is sustainability. Is the product or service offered sustainable for a long period of time? If no, it’s best to steer clear.
We’ve a platform that heavily relies on new members and deposits to operate. There’s no staking taking place as the value of the platform’s tokens are worthless in the real world. That’s a sign of worse things to come.
Final Thoughts Bulleto
We recommend you to stay away, Bulleto is a high-risk no-reward investment project.
Instead, go for tested and trusted platforms that enjoy the full support of the crypto community.
Do leave a comment or email us with any queries.