The Bbwamartayi Scam – What You Need To Know

Recently, Bbwamartayi.site service surfaced, promoting itself as a platform where you can safely store cryptocurrency and other assets. I managed to gather credible supporting information that unmistakably confirms it is, actually, a fraudulent service.

Regardless of the promises of the most convenient, dependable, and customer-centric service, Bbwamartayi.site does not offer any of them. All this is just a shiny wrap around a blatant scam, which takes your money and never gives them back. Any tales about bonuses, sponsorship from celebrities etc are non-existent as well.

Bbwamartayi Scam Overview

Originally, Bbwamartayi poses as a crypto trading & cryptowallet service with outstandingly low commission fees. Another bright marketing point for this platform is backing from celebrities that have relation to the crypto world. Elon Musk, Bill Gates, Vitalii Buterin, Warren Buffet – the site claims having significant support from them. To make these claims look real, con actors employ AI-generated videos where those celebrities promote the fake crypto service as the best thing in the world. Obviously, Elon Musk is the most common among them. But, as I mentioned above, all this is just a glaring wrap around a transparent scam.

Bbwamartayi Scam

Initially, Bbwamartayi repeats the design of multiple equivalent online platforms. There are quite a few examples, like Lonbtc, Alphaoneexchange or Ownertrader. They are completely undistinguishable in terms of graphic elements, with minor discrepancies in the website header. Other details, and sometimes even crypto wallet addresses, are the same. Presumably, all these scam sites are managed by the same gang of scoundrels.

Cryptocurrency Scam Summary

How the Bbwamartayi Scam Works?

Bbwamartayi is a part of a significant cryptocurrency scam scheme that started circulating actively in 2023. Swindlers who stand behind it use numerous website designs, which still share the similar overall layout. Another shared element are the ways the scams like NAME are promoted, and the manner all this ends up to the victim of the scam. To reach peak efficiency, frauds apply advanced psychological tricks that make the user believe in the authenticity of the website. But let’s review them one by one.

Step 1: Promotion

To begin the deceptive scheme, criminals set up and fill accounts on well-liked social media platforms. They generally focus on Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign commences. Employing bots and paid advertisements (when achievable), fraud actors increase the visibility of their scam activities to possible victims. And as I said, crooks do not disdain using generative AI for creating videos with the aforementioned celebs that advertise their scam to the public. To boost the folks even more, deceivers claim the bonus for every user who enrolls the service immediately.

Promotions of cryptoscams like Bbwamartayi in TikTok. Most of these videos are AI-generated deepfakes

Users receive an encouragement to sign up, attracted by the promise of receiving crypto rewards valued at hundreds of dollars, all without cost. To augment the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these assertions are entirely baseless.

Step 2: Gaining Traffic

Upon clicking the promotions, users end up on a page filled with enticing offers. “Crypto starts with Bbwamartayi”, “Your crypto savings are secured with Bbwamartayi, “Start earning with Bbwamartayi – they look rather reliable. To heat up the interest and make the users proceed to step 3, scammers say that getting the promoted bonus requires registration. And since nothing questionable happens at this point, uninformed users happily move on – especially as the bonus appears to be right behind the corner.

This is the last stage when it is possible to steer away from the scam without any losses. Before you sign up using your personal data, rascals will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is the starting poing of the main fraud action. As I just said, frauds bait folks for registration with bonuses. And all the personal information needed for it – email, username, cryptocurrency wallet address – are valuable for user identification. Exclusively by gathering this info and selling it further into the Darknet, crooks can earn quite a penny. Nonetheless, their plans go much further.

As it turns out, the claimed bonus is not available to use right away. To make it at least usable for cryptocurrency purchases, you need to top up the account with the sum of a bonus. And this is what starts the final stage of the scam.

Step 4: Requesting funds

It is obvious that any cryptocurrency purchases require you to have funds on your account. With Bbwamartayi, users are also coerced to top up to use the bonuses. And this is what creates the majority of the money flow to this scam website. By topping up the account, users hope to get the promised gift (usually $500-1000 in USDT), and may start engaging on this site hoping to use all the credited capital and withdraw them.

This is where the issues start to surface. When comparing the real cryptocurrency wallet vs what the site says, you can notice that no transactions are done whatsoever. And then, when you’d try to withdraw the money from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that scoundrels have zero intentions to send you money. Though to make the fraud look more legitimate, they’ve crafted a whole bunch of reasons to decline the withdrawal request. Usually, they repeat what KYC regulations say, but in this case they are here only to make the withdrawal impossible.

By asking for your personal information, frauds just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are numerous other checks you should go through before getting your money back. And each of these checks will share more and more info of yours, which – you guessed it right – will be then marketed on the Darknet. Never reveal your real info to strangers!

Signs of Scam

I gathered several facts that point at the scammy nature of the Bbwamartayi.site. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Unsubstantiated Credibility. Bbwamartayi employs fraudulent celebrity endorsements, often featuring names like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. These false claims extend to fictitious partnerships with reputable entities like Coinbase, Binance, or MetaMask, despite the absence of genuine connections.
• Implausible Earnings Claims. Promising remarkable returns of 50-100-200%, Bbwamartayi exploits the longing for quick profits. However, such gains are unrealistic within the volatile cryptocurrency landscape, unequivocally identifying Bbwamartayi as a scam.
• Dubious Corporate Information. Bbwamartayi arouses suspicion by providing inadequate documentation about ownership, location, and registration. Furthermore, the lack of legitimate contact information and the recent registration of domain and social media profiles deepen skepticism.
• Exclusive Cryptocurrency Payments. Bbwamartayi.site solely accepts payments in cryptocurrencies, refraining from traditional bank transfers and other payment methods. This approach not only shrouds the company’s identity but also prevents the possibility of requesting refunds.
• Potential Pyramid Scheme. The scam relies on a Ponzi-like referral structure disseminated through social media. Nevertheless, only initial participants profit, often at the expense of funds brought in by subsequent members.
• Groundless Hype Tactics. Bbwamartayi utilizes fabricated claims about non-existent events, such as securing contracts with Coinbase or receiving endorsements from Elon Musk. This manipulative strategy aims to foster belief in money returns and encourages individuals to top up their accounts again.

What Should I do as a Victim?

If you had to deal with Bbwamartayi site and fell victim to that scam, there are still some steps to take. They will make further scam attempts harder, and also boost the knowledge about that scam among folks.

• Secure Your Actions. Begin by promptly reporting the scam to appropriate local authorities tasked with handling financial fraud. Notify wallet providers and engage with social networks’ technical support teams. By taking these measures, you contribute to making the scammers’ operations significantly more difficult.
• Expand Awareness. Extend your efforts by sharing the scam information with your close friends. This action has a parallel effect to reporting to the authorities, as disseminating details about fraudulent crypto services reduces the potential victims they can deceive.
• Gather Evidence. Preserve comprehensive evidence by capturing screenshots and saving all pertinent data linked to the deceptive website. Collect the URL, screenshots of the main page, login interface, end-user license agreement (EULA), account top-up menu, and wallet addresses. These materials could prove invaluable for authorities in their pursuit of the scammers.
• Explore Refund Possibilities. While cryptocurrency payments generally fall outside the scope of refund policies within most banks, it’s worth investigating the potential for a refund in specific circumstances. Maintain optimism until you definitively confirm the loss.
• Convert Mistake into Wisdom. Transform your financial setback into a valuable learning experience. Treat your loss as an investment in understanding the tactics of crypto scam sites. Familiarize yourself with their key characteristics, how they lure individuals, and the grandiose promises they make. Armed with this knowledge, you’ll be well-equipped to recognize and avoid falling into future traps without incurring further losses.

Scan your system for possible malware infections

Beware of cross scams! Scam actors can use your trust to make you download some stuff or interact with certain documents. It may be a trap that installs malware to your system. There are no moral barriers or limits for these scoundrels.

Throughout the timeline of the scam, its masters may reach out to you with specific documents. Alternatively, they may offer you to install “cryptocurrency wallet applications” or “browser extensions” to facilitate access to your cryptocurrency funds. As we already determined, these scoundrels have no plan of giving back your funds. So, what do these emails and browser add-ons represent? Correct – this is another side of the deceptive plan designed to throw you into willingly installing harmful applications onto your computer.

Both add-ons and files added to emails can act as a shell for various malicious code. In this scenario, I expect the presence of spyware and stealers among all types of malicious programs. While it is not obligatory for scammers to distribute malware, the probability is always significant. As previously mentioned, their ethics is of little concern, and their reputation is already neck deep in mud. They have no principles to give up and intend to maximize gains.

Frequently asked questions