CRYPTOCURRENCY SCAM RECOVERY
It’s no secret that there are a ton of scammers on the cryptocurrency market. It seems like new fraud surfaces every day, ranging from initial coin offers (ICOs) to false exchanges and counterfeit wallets. Cryptocurrencies are here to stay, despite all attempts by governments to regulate them. However, since the majority of the information around cryptocurrency is open to speculation, it is quite simple for con artists to con people into falling for a “get rich quick” plan using what appears to be a real investment opportunity.
At Digital Currency Reclaim, we have a crypto recovery team who will examine your case, carry out a digital forensic investigation, penetrate the perpetrators, and get your cryptocurrency recovered with the aid of blockchain intelligence and ethical means
TYPES OF CRYPTO SCAMS
- CRYPTO-MINING SCAMS
The complexity of the crypto-mining process has made it a good avenue for fraudsters to take advantage of naïve investors. Mining scams target people who wish to ‘invest’ in mining operations as a way to produce passive income because mining requires a lot of time, effort, power, and infrastructure. These scammers lure investors by promising them juicy rewards for their contribution to the mining operation, whereas in the real sense they just want to cart away with their investment as well as the supposed mining rewards.
- CRYPTO-EXCHANGE SCAM
The choice of a crypto exchange most often determines whether trading for beginners is a delight or a nightmare. The tremendous popularity of cryptocurrencies in recent years has created a ton of opportunities for fraud. Scammers are constantly seeking new ways to take your money. According to a report by blockchain intelligence company Chainalysis, criminals stole $14 billion worth of cryptocurrency in 2021, setting a record for cryptocurrency crime. It’s critical to be aware of the risks if you’re interested in cryptocurrencies
- CRYPTO PUMP & DUMP SCAMS
In a pump-and-dump scheme, fraudsters stockpile a commodity over time, artificially inflate its price by spreading false information (pumping), and then sell what they have gathered to naive customers at a higher price (dumping). Because a pump-and-dump strategy involves artificially inflating the value of a crypto asset shortly before a deliberate and unexpected drop, there may be a possibility to profit from it. Please keep in mind that the cryptocurrency market is unpredictable; as a precaution, familiarize yourself with the fundamental crypto metrics to prevent getting duped by projects that seem “too good to be true.”
- CRYPTO PYRAMID/PONZI SCHEMES
Scammers have employed Ponzi schemes for more than a century. They have succeeded in the crypto market, though, since there aren’t many stringent rules governing it. The irreversible feature of fund transfers made possible by blockchain systems’ immutability also benefits scammers by making it more challenging for Ponzi victims to recover their losses. Before investing in any innovative project, it is necessary to apply caution because the crypto industry is vulnerable to these kinds of scams
- CRYPTO INVESTMENT SCAM
Also known as the High-Yield Investment Product (HYIP) Scam, whereby a victim’s mentor, romantic interest, or a third-party impersonator will tell them exactly when to make trades, sometimes using leverage for an amazing Return On Investment (ROI), while enabling the victim to feel enthusiastic about the possibility of making a lot of money. The scammers know they can gain more value for your money when cryptocurrency prices fall. So, if you’re unsure, think carefully before sending significant quantities of money and seek out another viewpoint.
- SOCIAL MEDIA CRYPTO GIVEAWAY SCAMS
Social media sites are flooded with fake posts that advertise cryptocurrency giveaways. To entice consumers, some of these scams also use fake celebrity accounts to promote the offer.
However, when a user clicks on the promotion, they are transferred to a phony website that requests verification in order to send them bitcoin. Making payment as part of the verification process demonstrates the legitimacy of the account. This payment may be lost by the victim, or even worse, if they click on a malicious link, their personal data and cryptocurrency may be taken.
- NFT SCAM
NFTs are becoming increasingly popular as a way to make a good return on investment, and the Bored Ape Yacht Club NFT project is frequently cited as an example of potential success. It is, however, not uncommon for an investor to be mis-sold an NFT. The majority of NFT fraudsters want to gain access to your NFT account. They accomplish this by employing a variety of phishing schemes to obtain your private wallet key. Once these scammers gain access to your account, they will quickly drain it before you even realize what is going on. There are also fake NFT project out there, so be on the lookout.
- PHISHING SCAMS
Phishing scams have been around for a while but are still prevalent. To obtain personal information, such as the password to a cryptocurrency wallet, scammers send emails with malicious links to a fraudulent website. In contrast to passwords, users only receive one unique private key to digital wallets. To avoid phishing scams, never enter private keys from an email link. No matter how legitimate the website or link appears, always go directly to the site
- ROMANCE SCAMS
Crypto frauds are prevalent on dating apps. The FTC reports that from October 2020 to March 2021, cryptocurrencies accounted for nearly 20% of the money lost in romance scams. These kinds of scams involve long-distance or digital connections where one side urges and persuades the other to buy or provide money for some new cryptocurrency while in reality; it’s just a way to trick people out of their money. Conversations about attractive cryptocurrency prospects and the eventual transmission of either money or account authentication credentials frequently start after trust has been established.
HOW TO PROTECT YOURSELF FROM CRYPTO SCAMS
- Never trust any information at face value. Any investment offers should be investigated thoroughly, especially if they seem too good to be true or promise sudden riches.
- Never believe anyone who contacts you personally and requests bitcoin payments or presents you with a “investment opportunity,” including public figures, strangers, or government representatives.
- Keep your private key and seed phrase for your cryptocurrency wallet offline (in a “cold wallet”) and never give them to anyone.
- Whatever type of cryptocurrency wallet and exchange you use, enable multi-factor authentication. But as we witnessed when Coinbase was hacked, this is not a foolproof fix
- Verify all website addresses. In order to pull off a phishing scam, con artists replicate the URLs of trustworthy websites by interchanging letters and number
HOW TO RECOVER FROM A CRYPTO SCAM
If you’ve fallen victim to bitcoin or cryptocurrency scams, don’t lose hope. Regulators from all over the world are paying close attention to any indication of improper behavior because of the numerous frauds and the sheer number of individuals who have been adversely affected in the crypto industry over the past five years. Nothing is completely anonymous, so take heart from the fact that many people have successfully recovered Bitcoin and other cryptocurrencies. Digital Currency Reclaim (DCR) provides a wide variety of crypto recovery services by utilizing reverse social engineering, Blockhain Intelligence software and ethical hacking means to ensure that stolen cryptocurrencies are repatriated to its original custodian.
While it has historically been difficult to trace stolen cryptocurrencies, for instance, it is not impossible, and advancements in the technology employed by tracing agencies have helped. At DCR, we will designate a Certified Cryptocurrency Tracing Expert who will work closely with you during this challenging process and make every effort to recover your funds.
In order to assist fraud victims, we offer an accessible, user-friendly legal advice and representation service, offering standard costs for each stage of the investigation and recovery process.
WHY CHOOSE US
We collaborate with YOU to recover your money from Crypto scams and other frauds. Our pre-planned processes, consistent flow of services, and goal-oriented methodology have earned the trust of our users. As we extend, you can take a chance and rely on us
NOTICE!
Be aware that due to the expenses involved in conducting an Asset Recovery Operation, we only administer cases where losses accrued to an equivalent of 10,000 USD and above. Depending on the complexity of each case, we charge fees for our services and provide a contingency payment plan with a “No win - No fee” clause, whereby payment is made subsequently to the completion of our service.
DCR provides a satisfactory Financial Asset Recovery Service and devotes a large portion of its resources to battling cryptocurrency-related fraud.
