The Truth About BNP Paribas USDT: Legit or Scam? Our Review

Recently, Catousd.com service appeared, promoting itself as a platform to store cryptocurrency and other assets safely. I managed to gather credible proof that unmistakably indicates it is, in truth, a scam service.

Despite the promises of the most convenient, reliable, and client-friendly service, Catousd.com does not fulfill any of them. In fact, all this is just a shiny wrap around a blatant scam, which takes your money and data and never returns them. Any tales about bonuses, endorsement from celebrities etc are nowhere to be found as well.

BNP Paribas USDT Scam Overview

Originally, BNP Paribas USDT poses as a cryptocurrency trading & cryptowallet service with outstandingly low commission fees. Another notable selling point for this service is backing from celebrities that have relation to the crypto world. Warren Buffet, Elon Musk, Vitalii Buterin, Jeff Bezos – the site says about being supported by them. To make these claims look real, con actors use AI-generated videos where those celebrities promote the fraud as if it was the best thing in the world. For known reasons, Elon Musk is the most common choise for that. But, as I said in the introduction, all this is just a vivid wrap around a transparent scam.

BNP Paribas USDT Scam

First and foremost, BNP Paribas USDT repeats the design of multiple equivalent websites. There are quite a few examples, like Selwix, Sptzs or Sanobit. They are entirely identical in terms of visual elements, with slight discrepancies in the webpage header. Other details, and at times even crypto wallet addresses, are unchanged. Most likely, all these fraudulent online platforms are operated by the same group of scammers.

Cryptocurrency Scam Summary

How the BNP Paribas USDT Scam Works?

BNP Paribas USDT is a part of a extensive cryptocurrency scam scheme that started circulating vividly in 2023. Rascals who stand behind it use various website designs, which still share the same 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 complex psychological tricks that make the user believe in the validity of the website. But let’s review them one by one.

Step 1: Promotion

To start the deceptive scheme, criminals establish and fill accounts on popular social media platforms. They primarily aim at Facebook, Instagram, Twitter, and TikTok. Subsequently, the promotional campaign starts. Utilizing bots and sponsored advertisements (when feasible), fraud actors intensify the visibility of their scam activities to possible victims. And as I said, scammers do not shy away using generative AI for creating clips with the aforementioned celebs that promote their scam to the public. To boost the folks even more, frauds claim the bonus for every user who joins the service immediately.

Promotions of cryptoscams like BNP Paribas USDT in TikTok. Most of these videos are AI-generated deepfakes

Users obtain an encouragement to sign up, drawn by the commitment of getting cryptocurrency prizes valued at hundreds of dollars, all free of charge. To increase the attractiveness of the offer, fake suggestions of cooperation with a celebrity are incorporated. As you may guess, these claims are completely baseless.

Step 2: Gaining Traffic

After following the ads, targets end up on a page filled with attractive offers. “Crypto starts with BNP Paribas USDT”, “Your crypto savings are secured with BNP Paribas USDT, “Start earning with BNP Paribas USDT – they look rather credible. To heat up the interest and make the users proceed to step 3, crooks say that getting the promoted bonus requires registration. And as nothing suspicious happens at this point, unexperienced users happily proceed – especially since the gift appears to be right behind the corner.

At this point, it is possible to get away from the scam without any losses. Before you sign up using your personal data, swindrels will not be able to earn even a nickel from your presence on the website.

Step 3: Data Gathering

This is where the main fraud action begins. As I just said, frauds bait folks into signing up for bonuses. And all the personal info needed for it – username, email, cryptocurrency wallet address – are valuable for user identification. Solely by gathering this info and selling it further into the Darknet, swindlers can earn quite a penny. Still, their plans go much further.

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

Step 4: Requesting funds

Eventually, any crypto purchases require having money on your account. With BNP Paribas USDT, users are also coerced to top up to use the bonuses. And these top ups is what creates most of the cash flow to this fraudulent website. By topping up the account, users hope to get the pledged gift (usually $500-1000 in USDT), and may start trading on this site hoping to use all the deposited money and withdraw them.

This is where the victim notices the problems. When comparing the actual crypto wallet vs what the website says, you can notice that no transactions are done whatsoever. And then, when you’d try to retrieve the funds from your account, the scam is finally uncovered to the user.

Step 5: Escaping from Funds Withdrawal

There’s no need to explain that swindlers are naught on intentions to send you money. But to make the fraud look more legitimate, they’ve elaborated a whole bunch of reasons to decline the wireout request. Most of them repeat what Know Your Client requirements say, but for the Catousd.com they are here only to make the withdrawal impossible.

By asking for your personal information, deceivers just stall hoping for you to understand that you’ve been scammed and stop contacting them. If you don’t – well, there are multiple other checks you would desperately need to undergo before getting your funds back. And every check will reveal more and more information, which – you guessed it right – will be then traded 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 Catousd.com. Actually, there are a lot of scams that fall under the same points, so they are pretty much universal.

• Cryptocurrency-Only Transactions. Catousd.com insists on cryptocurrency payments exclusively, excluding conventional methods like bank transfers. This strategy ensures anonymity for the scam and eliminates any possibility of seeking refunds.
• Dubious Company Credentials. BNP Paribas USDT arouses suspicion by failing to provide critical information about ownership, location, and legal registration. The lack of valid contact details and the recent creation of domain and social media profiles cast doubt on its legitimacy.
• Baseless Hype Generation. BNP Paribas USDT resorts to fabricating non-existent achievements, such as contracts with Coinbase or endorsements from Elon Musk, to manipulate emotions and enhance the perception of potential returns, enticing victims to invest more.
• Fictitious Celebrity Association. BNP Paribas USDT employs a deceptive tactic by falsely associating itself with well-known figures like Elon Musk, Jeff Bezos, Mr. Beast, and Mark Zuckerberg. Additionally, the scam falsely claims partnerships with established entities like Coinbase, Binance, or MetaMask to bolster its false credibility.
• Potential Ponzi-Like Model. The scam operates on a pyramid-style referral system disseminated through social media, benefiting only initial participants and relying on later investments to sustain the illusion.
• Unrealistic Profit Promises. Promising improbable returns of 50-100-200%, BNP Paribas USDT capitalizes on the desire for high profits. However, the tumultuous nature of the cryptocurrency market renders such gains implausible, solidifying Catousd.com as a definite scam.

What Should I do as a Victim?

If you had to deal with BNP Paribas USDT 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, scoundrels may get in touch with you with particular files. Alternatively, they may suggest you to install “cryptocurrency wallet applications” or “browser extensions” to streamline access to your crypto funds. As we already determined, these rascals have no plan of returning your capital. So, what do these email messages and browser plugins represent? Correct – this is another component of the scam designed to entice you into deliberately running destructive programs onto your computer.

Both add-ons and files attached to email messages can act as a shell for various malicious software. In this scenario, I expect the presence of spyware and stealers among other kinds of malicious programs. While it is not obligatory for scammers to distribute malware, the likelihood is always existent. As previously mentioned, their morality is of little concern, and their reputation is already deeply compromised. They have no scruples to lose and intend to boost revenues.

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