Usdt Mama is a scam crypto mining site that claims to offer investors large returns over short period of time but is actually used to steal deposits.
Victims are promised large profits if they deposit crypto, primarily the stablecoin USDT (Tether). However, it’s impossible to mine this crypto.
The platform is rudimentary in design and the domain name is very new – two massive red flags that this is a scam platform.
The profits offered by Usdtmama are also unrealistic and are clearly unobtainable, another clear sign that all is not as it seems.
Victims approached online
Victims are often encouraged to invest by people they’ve met online. They are then connected with a ‘trader’ through social media who arranges crypto transfers into a ‘trading account’.
The victim is then persuaded to believe that their investment has gone up through crypto mining activities, but when they come to withdraw their funds, they are blocked from doing so.
Their ‘trader’ will ask for a fee to release the cash but, if paid, will only lead to further demands for money under the guise of ‘commissions’ or ‘taxes’.
Ultimately, no money will ever be returned to the victim.
Should I invest in Usdt Mama?
No, this is a fake crypto platform which in all likelihood will close down in the near future. Any money you invest here will be stolen.
It’s also incredibly difficult to track stolen crypto and secure its return, although you should always report it to the police.
However, there are private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.