Welcome to our Catly Review regarding the website currently found at Catly.io.
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On August 19, 2023, we received the following complaint:
I invested $200 in Catly.io, a platform that offers buybacks on presales. I woke up today to find they have stopped withdrawals, and I’m really sad.
So what exactly is Catly, and is it a SCAM?
Catly.io was registered through GoDaddy on March 2, 2023, for 6 years. It is protected by Cloudflare and Domains By Proxy, a privacy service.
Although it is a young website, just 6 months old, it’s already ranked 4691 globally by SimilarWeb and 1876 in Russia, the 8th most popular Gambling/Lottery site. In July 2023, it received more than 12 million visits from Russia, Indonesia, Ukraine, Colombia, Poland, India, the United States, and other countries.
SEMrush gives it an 11% Authority Score. It has more than 16,000 backlinks from 464 referring domains.
The search results for “Catly.io” reveal various aspects of the platform. Catly.io focuses on a community-driven token aimed at pet cat enthusiasts, striving to make CATLY “everyone’s cat on the blockchain.” It has a 7% transaction tax during buy/sell transactions, allocated for holder dividends and other purposes.
The platform has plans to secure listings on major crypto exchanges for increased project exposure. The team behind CATLY consists of experienced blockchain professionals and pet industry experts. Based on the AMM mechanism, the platform also offers a decentralized exchange protocol called CATLY Swap. They emphasize the importance of security and compliance, mentioning that the CATLY token contract will undergo professional security audits. Overall, the platform aims to be a comprehensive solution for community engagement and financial transactions related to pet cats.
The homepage Catly.io currently redirects to catly.io/pc.html
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Catly.io markets itself as a revolutionary community-driven platform focusing on pet cats. They claim to offer the “best Web 3.0 community token” and use a 7% transaction tax for things like holder dividends. The token is branded as $CATLY, and they’re pushing for listings on major cryptocurrency exchanges.
They also offer a $CATLY airdrop for new users who sign up on the platform. Despite these ambitious claims, the platform has yet to prove its long-term sustainability or efficacy.
To claim the $CATLY airdrop, new users must sign up and provide their email, password, and a Binance USDT-BEP20 address. However, there’s no information on the amount paid or received when claiming the airdrop.
- Transactional Tax: A 7% transaction tax applies to buy/sell activities. While part of this goes towards dividends for holders, it’s worth questioning what the rest is allocated for and why such a high tax is necessary.
- Exchange Listings: The platform has plans to secure listings on major crypto exchanges like Binance, Huobi, OKEX, and Gate.io, but there’s no confirmation on these partnerships. Until these listings are secured, it’s speculative to assume the level of exposure and liquidity $CATLY will have.
- Security Measures: While they mention that the $CATLY token will undergo professional security audits, there’s no information on who is conducting them or their previous track record. The recent freeze on withdrawals only adds to these concerns.
- Lack of Team Transparency: The team is said to consist of experienced blockchain professionals and pet industry experts, but there’s no specific information available regarding who they are, which impacts the credibility and trust factor.
- Airdrop Mechanism: They offer a $CATLY airdrop for new users, but it’s unclear how this will be funded in the long run and whether it’s a strategy for rapid, possibly unsustainable, user growth.
- Regulatory Information: No details are provided on any sort of regulatory compliance or the legal jurisdiction under which they operate, which is a concern for potential investors.
- Contact Details & Company Information: No contact details or regulatory information is available on the page. This can be considered a red flag for potential investors.
Besides the $catly airdrop page, there’s also a whitepaper. (Last modified 3 months ago; May 2023.)
The CATLY whitepaper presents a comprehensive view of the project that aims to create a community-driven ecosystem centered around pet cats.
Leveraging blockchain technology, CATLY intends to offer various services like staking and locking features, a decentralized exchange protocol called CATLY Swap, and a CATLY AI Lottery.
They also plan to roll out NFTs based on cat avatars and an educational program focused on children.
The project is primarily raising funds through private financing, presales, and token sales, which will be allocated toward product development, marketing, liquidity, ecosystem development, and operational costs.
Regarding security, they claim to adhere to compliance requirements and have obtained the US MSB (Money Services Business) and US Foundation licenses.
Finally, CATLY’s team comprises experienced blockchain professionals and pet industry experts, advised by a panel of blockchain advisors and investors.
The project boasts rapid community growth, claiming 38K members on their Telegram within 30 days of launch.
Unfortunately, the whitepaper does not provide direct contact details or specify the company behind the CATLY project. They claim to have US MSB and US Foundation licenses but do not offer identification numbers or details to verify this compliance.
Here are some additional red flags:
- Over-Promise, Under-Deliver Risk: The whitepaper lays out an ambitious plan covering diverse areas, from DeFi to NFTs to educational programs. However, it’s not clear how they will execute all these features effectively.
- Compliance Vagueness: While the project mentions that they obtained the US MSB and US Foundation licenses, they do not provide specific details or identification numbers to validate these claims.
- Crowdfunding Risks: They acknowledge the risks associated with crowdfunding but don’t specify what safeguards are in place for investors during the crowdfunding process.
- No Clear Unique Selling Proposition (USP): While the paper is full of features and plans, what sets CATLY apart in the crowded crypto and NFT market is not well-defined.
- Vague Team Details: The paper claims that the core team comprises experienced professionals, but it falls short of providing specific names or credentials to verify this expertise.
- Highly Competitive Space: CATLY aims to become a leading token on the Binance Smart Chain (BSC), a lofty ambition given the crowded and competitive nature of projects on the platform.
- Lack of Past Performance Metrics: While CATLY has community growth statistics, there is no information on any prior successful projects led by the team, which raises concerns about their ability to deliver on their promises.
The Google search results for “Catly.io” offer mixed opinions about its legitimacy and trustworthiness:
- Positive Reviews: Some reviews indicate satisfaction with Catly.io, describing it as a “Good project” and even mentioning successful use for a week. There’s also talk of an airdrop that some users have found promising.
- Negative Reviews: Others suggest that Catly.io might be a scam. There are questions about its legitimacy; some users have reported that they could not withdraw funds. One source even gave it a “Scam Score of 58,” though the basis for this score is unclear. There are also complaints filed against the project.
- Consumer Complaints: There are references to a consumer complaints court, where Catly.io has been specifically mentioned.
- Affiliate Promotion: Some sites mention that affiliates heavily promote Catly.io, which can sometimes be a red flag.
- Caution Advised: Even the sources that list it as a new opportunity for investment advise caution and recommend doing your own research before investing.
Let’s look at two of the most helpful reviews:
The review of Catly.io by Tech Propagator gives a comprehensive overview of this new crypto investment platform. According to the review, Catly.io is based on a cryptocurrency called Catly Coin and offers daily returns to its registered users. However, it’s essential to note that the review labels Catly.io as a Ponzi scheme that could crash and stop paying at any time.
Catly.io was founded by Martin Jan de Jong and is registered as a nonprofit in the United States. The platform allows users to acquire Catly Coin through free airdrops and presale purchases. Furthermore, it provides a buyback option, meaning you can cash out whenever you want. The minimum withdrawal amount is 60 Catly Coins, and withdrawals can be made to a Binance account.
As for its legitimacy, the review states that Catly.io is currently paying its users and has a Trustpilot rating of 4.3/5. Despite this, the platform has been identified as a scam with many red flags, making it an unsafe investment choice. It aims to grow its community before being listed on crypto exchanges.
The review concludes by stating that joining Catly.io is straightforward and involves a referral code. Users can also earn by referring others to join using their unique referral codes.
However, comments at the end of the review indicate that Catly.io has already crashed and is no longer paying its investors, underscoring the inherent risks involved.
The Trustpilot reviews for Catly.io are overwhelmingly negative, with many one-star ratings.
Users commonly report that the platform appears to be a scam, with several complaints of blocked withdrawals, disabled customer support, and error messages when trying to conduct transactions.
Some reviewers even report that Catly has completely ceased to operate, and they have lost their invested funds.
There are also claims that the company is not responsive to customer queries or grievances.
The overall TrustScore for Catly is low, and people have actively advised against investing in it for the sake of mental health and financial safety. The issues reported have raised serious concerns about the credibility and legitimacy of Catly.io.
In summing up our review of Catly.io, we find a platform that is at once ambitious and enigmatic, with a range of promising features yet burdened by glaring red flags. On the one hand, Catly.io presents itself as an innovative, community-driven venture focused on the burgeoning sector of pet-oriented cryptocurrencies. Its detailed whitepaper, high website traffic, and elaborate growth plans may initially capture potential investors’ attention.
However, the platform’s inconsistencies cannot be ignored.
The lack of transparent information about the team, unverified claims of regulatory compliance, and the concerning pattern of halted withdrawals paint a risky picture. Moreover, the reviews across multiple platforms largely corroborate this sentiment; although there are some positive notes, the overall feedback skews toward skepticism and caution. The recent complaint about withdrawal issues is especially concerning, adding credence to some suspicions that Catly.io could be an unreliable, if not outright deceptive, platform.
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