Bulleto fails to provide ownership or executive information on its website.

Bulleto’s website domain (“bulleto.io”), was first registered in December 2020. The private registration was last updated on July 20th, 2023.

Based on the first video uploaded to its official YouTube channel, Bulleto appears to have initially launched on or around February 2023.

Bulleto’s marketing gives us several names we can attach to the opportunity:

Shivesh Kumar

Mahesh Sharma

Zee Senior (alias?)

Omar Khan

Sahil Raj Prajapati

Kumar Balwant

The majority of people tied to Bulleto seem to be from India. Bulleto is also targeting Bangladesh.

It should be noted that Bulleto’s FaceBook page is managed from the UAE:

This suggests even though it’s run by Indians, that Bulleto’s admins are hiding in Dubai.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

  1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
  2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Bulleto, read on for a full review.

Bulleto’s Products

Bulleto has no retailable products or services.

Affiliates are only able to market Bulleto affiliate membership itself.

Bulleto’s Compensation Plan

Bulleto directs affiliates to purchase BBOND from “bbonds.io”. Bbond appears to be an illegal crypto lottery which they run through their own BBOND shitcoin.

There’s probably some crossover between BBOND’s and Bulleto’s admin(s), but for breaking down Bulleto’s compensation plan it’s not worth exploring.

Once acquired, affiliates buy Bulleto matrix cycler positions with BBOND.

There are two cyclers within Bulleto; A Club Matrix and B Club Matrix.

A Club Matrix

Bulleto’s A Club Matrix uses a 2×2 matrix structure.

A 2×2 matrix places a Bulleto affiliate at the top of a matrix, with two positions directly under them:

These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).

Positions in the matrix are filled via subsequent cycler positions by new and existing Bulleto affiliates.

When all six positions in a 2×2 matrix are filled, a “cycle” is triggered.

There are eight tiers in Bulleto’s A Club Matrix cycler. Commissions across all eight tiers are as follows:

  • Tier 1 (positions cost 0.001 BTC, supposedly payable in BBOND) – 0.001 BTC commission and cycles into a new Tier 1 and Tier 2 matrix
  • Tier 2 – 0.002 BTC commission and cycles into a new Tier 2 and Tier 3 matrix
  • Tier 3 – 0.004 BTC commission and cycles into a new Tier 3 and Tier 4 matrix
  • Tier 4 – 0.008 BTC commission and cycles into a new Tier 4 and Tier 5 matrix
  • Tier 5 – 0.016 BTC commission and cycles into a new Tier 5 and Tier 6 matrix
  • Tier 6 – 0.032 BTC commission and cycles into a new Tier 6 and Tier 7 matrix
  • Tier 7 – 0.064 BTC commission and cycles into a new Tier 7 and Tier 8 matrix
  • TIer 8 – 0.384 BTC commission and cycles into a new Tier 8 matrix

B Club Matrix

Bulleto’s B Club Matrix uses a 2×3 matrix structure.

A 2×3 matrix is the same as a 2×2 matrix but has an additional third level under the first two levels:

The third level of a 2×3 matrix houses eight positions.

Beyond having an additional third level of the matrix to fill, a B Club Matrix otherwise functions the same as an A Club Matrix.

There are eight tiers in Bulleto’s B Club Matrix cycler. Commissions across all eight tiers are as follows:

  • Tier 1 (positions cost 0.001 BTC, supposedly payable in BBOND) – 0.006 BTC commission and cycles into a new Tier 2 and Tier 3 matrix
  • Tier 2 – 0.01 BTC commission and cycles into a new Tier 2 and Tier 3 matrix
  • Tier 3 – 0.024 BTC commission and cycles into a new Tier 3 and Tier 4 matrix
  • Tier 4 – 0.096 BTC commission and cycles into a new Tier 4 and Tier 5 matrix
  • Tier 5 – 0.384 BTC commission and cycles into a new Tier 5 and Tier 6 matrix
  • Tier 6 – 0.1920 BTC commission and cycles into a new Tier 6 and Tier 7 matrix
  • Tier 7 – 6.912 BTC commission and cycles into a new Tier 7 and Tier 8 matrix
  • TIer 8 – 18.432 BTC commission and cycles into a new Tier 8 matrix

Bulleto’s marketing suggests it also rewards affiliates with BLV tokens for cycling out of A Club Matrix and B Club Matrix tiers.

BLV appears to be another inhouse shitcoin.

Joining Bulleto

Bulleto affiliate membership is free.

Full participation in the attached income opportunity costs 0.002 BTC, payable in BBOND.

Bulleto Conclusion

While the cycler Ponzi side of Bulleto is easy enough to understand, the scam is weighed down by numerous shitcoins.

Bulleto’s website and marketing references BBOND, BLV, SBOND and USDB. These all appear to be part of a strategy to restrict the outflow of bitcoin.

Part of the reason for the messiness is likely Bulleto having already collapsed at least once since its initial February 2023 launch.

As per a September 3rd YouTube marketing video, Bulleto was rebooting on September 4th (this rebooted business model is detailed in this review):

As to Bulleto’s cycler itself, it’s no different to any other Ponzi cycler.

  • affiliates invest 0.001 BTC into A Club Matrix on the promise of a 0.511 BTC ROI
  • affiliates invest 0.001 BTC into B Club Matrix on the promise of a 27.784 BTC ROI

That Bulleto uses cryptocurrency and tracks matrices through a smart-contract is neither here nor there.

Bulleto’s admins hold the earliest cycler positions. These positions cycle first and receive the lion’s share of invested funds (both from initial cycling and recycling at each tier).

A few scraps are paid to top recruiters, with the majority of Bulleto affiliates ultimately taking a loss.

This is simple math, as each payment made in Bulleto consists of 0.001 BTC investments. Once recruitment inevitably slows down so do new 0.001 BTC investments.

This will Bulleto’s matrices stall one by one, eventually triggering a company-wide collapse.

At that point Bulleto stops allowing conversion of its various shitcoins into BTC. And once again, victims are left bagholding worthless Ponzi shitcoins.

 

Update 12th March 2024 – Bulleto is the third Ponzi scheme from Omar Khan. It was launched after his second Ponzi, B-Love Network was collapsing.

Bulleto began to collapse in late 2023, prompting Khan to launch BFIC Gold.