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The Steps Our Company Will Take to Help You Recover Your Stolen Money from a Crypto Currency Scam

Did you know that scammers all over the world made a record-breaking $14 billion in cryptocurrencies in 2021, mostly as a result of the advent of decentralized financial infrastructure (DeFi)? The amount of money lost to crypto-related crimes has increased by 79 percent between 2020 and now. What you might find even more interesting is that theft of cryptocurrency soared by 516 percent between 2020 and 2021, totaling $3.2 billion in cryptocurrency. The DeFi protocols were responsible for 72 percent of the entire amount of stolen cash. With all this being said, let’s first dive into the basics of what crypto trading actually entails and the different online crypto scams, its dangers as well as how we at Funds Trace can help you recover your stolen assets.

We are a fund recovery consultation organization that is staffed with experts that are able to give unique solutions for information, money, and asset recovery arising from fraudulent activities. A team of skilled lawyers, cyber detectives, and case filers work together at Funds Trace to hunt down scammers’ digital trails and assist victims in putting together and litigating their recovery cases.

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Are You into Cryptocurrency Trading?

When it comes to online trading, cryptocurrency is a digital currency that works as a means of exchange through the use of a computer network. It is not dependent on any central authority, such as a government or a bank, to sustain or maintain its value. In order to protect transaction records, control the creation of additional coins, and verify the transfer of coin ownership, individual coin ownership records are stored in a digital ledger, which is a computerized database that employs strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership.

Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense. While different classifications have been applied to them, including classification as commodities, securities, and currencies, cryptocurrencies are generally regarded as a distinct asset class in practice. Cryptocurrencies are not considered to be currencies in the traditional sense. Some cryptographic methods rely on validators to keep the cryptocurrency running. Proof-of-stake models need token owners to put their tokens up as collateral. In exchange, individuals receive authority over the token in proportion to the amount of money they have invested. Most of the time, these token stakes gain increased ownership of the token over time as a result of network fees, freshly issued tokens, or other similar incentive mechanisms.

Cryptocurrency is a digital asset that does not exist in physical form (unlike paper money) and is not issued by a government or other authority. Cryptocurrencies, as opposed to digital currencies issued by central banks, often employ decentralized control (CBDC). Censorship is often applied to digital currencies when they are minted or created before release or when they are released by a single issuer, among other things. When implemented with decentralized governance, each cryptocurrency operates through distributed ledger technology, which is often a blockchain, which acts as a public financial transaction database for the entire world to see. 

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Cryptocurrency returns are only a minor factor in the returns of traditional asset classes such as currencies, commodities, and stocks, as well as macroeconomic considerations. In the world of digital assets and money, a cryptocurrency is a tradable digital asset or digital form of money that is built on blockchain technology and is exclusively available online. Cryptocurrencies, as the name implies, employ encryption to authenticate and protect transactions, thereby earning them the title. There are over a thousand different cryptocurrencies in use around the world at any given time.

The value of cryptocurrencies has risen and fallen repeatedly during the previous few years. Cryptocurrency exchanges do not guarantee that an investor is making a purchase or making a transaction at the best available price. A large number of investors take advantage of this by employing arbitrage to determine the difference in price between different market segments. Bitcoin was the world’s first decentralized cryptocurrency, and it was originally made available as open-source software in 2009. Since the introduction of Bitcoin, a plethora of new cryptocurrencies have been developed.

If you have been scammed through online, then contact us to get your money back!

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The Many Types of Crypto Currency Scams We Can Help You Tackle

Several significant incidents of cybercrime involving the theft (or otherwise illegal acquisition) of cryptocurrencies are discussed, as are some of the methods and security holes that are frequently exploited. It is a type of cybercrime that has been used on websites to hijack a victim’s resources and use them to hash and mine cryptocurrency. Cryptojacking is a specific type of cybercrime that has been used to hijack a victim’s resources and use them to hash and mine cryptocurrency. According to Chainalysis, a blockchain analysis company, criminal activities such as cybercrime, money laundering, and terrorism financing accounted for only 0.15 percent of all cryptocurrency transactions done in 2021, amounting to a total of $14 billion.

Phishing Scams

Phishing attempts involving cryptocurrency frequently target information linked to online wallets. Scammers prey on private crypto wallet keys, which are required in order to access funds stored in the cryptocurrency wallet. Their manner of operation is similar to that of earlier phishing attempts, and they are linked to the fictitious websites discussed previously. They send an email in order to entice readers to visit a specially built website where they are required to provide private key data. As soon as the hackers obtain this information, they proceed to steal the cryptocurrency stored in those wallets.

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Pump and Dump Schemes

This is the promotion of a certain coin or token by fraudsters through the use of an email blast or social media platforms such as Twitter, Facebook, or Telegram. Because they don’t want to miss out on the opportunity, traders rush to purchase the coins, driving up the price. After successfully raising the price of an asset, the scammers liquidate their shares, resulting in a crash as the item’s value plummets dramatically. This can happen in a matter of minutes.

Fake Computer/Mobile Applications

Another popular method used by scammers to defraud cryptocurrency investors is through the distribution of bogus apps that can be downloaded from Google Play and the Apple App Store. Although these bogus applications are swiftly identified and withdrawn, this does not rule out the possibility that they are having an influence on many businesses’ bottom lines. Hundreds of thousands of users have downloaded bogus cryptocurrency applications.

Fake Celebrity Endorsements

Crypto scammers may pose as celebrities, businesses, or influencers, or claim endorsements from them, in order to attract the attention of potential victims. Sometimes this entails selling beginner investors phantom cryptocurrencies that do not exist in the first place. These scams can be extremely sophisticated, incorporating flashy websites and booklets that pretend to display celebrity endorsements from well-known figures such as Elon Musk, among others.

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Giveaway Scams

In what is known as a giveaway scam, scammers claim to match or multiply the cryptocurrency that has been provided to them in exchange for payment. Clever messaging from what appears to be a legitimate social media account can instill a sense of legitimacy while also creating a sense of urgency in the recipient. It is possible that people would rush to transfer monies in anticipation of receiving an immediate return on their investment because of this alleged “once-in-a-lifetime” chance.

Blackmail and Extortion Scams

The use of blackmail is yet another technique used by scammers. It is common for scammers to send emails. They claim to have a record of adult websites visited by the recipient and threaten to expose them unless the recipient shares private keys or sends cryptocurrency to the scammer.

Cloud Mining Scams

Cloud mining refers to firms that provide you with the ability to rent mining hardware that they maintain in exchange for a fixed charge and a percentage of the revenue you are allegedly generating. In theory, this allows individuals to mine from a distance without having to purchase expensive mining equipment. Although many cloud mining organizations are legitimate, many are also fraudulent or unsuccessful – meaning that you will either lose money or make less than was promised.

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Initial Coin Offerings That Are Fraudulent (ICOs)

An initial coin offering, often known as an ICO, is a method for start-up cryptocurrency enterprises to raise funds from potential customers. Clients are typically given a discount on the new crypto coins in exchange for submitting active cryptocurrencies such as bitcoin or another famous cryptocurrency. It has emerged that a number of initial coin offerings (ICOs) were fraudulent, with criminals going to creative efforts to trick investors, including renting fictitious premises and developing high-end marketing materials.

The Risks and Dangers of Cryptocurrency Scams

Scammers utilize social media channels to encourage consumers to make fictitious investments by impersonating celebrities, friends, and family members. In order to obtain the promised high returns, the majority of these ‘investments’ are asked through cryptocurrencies. Scammers use social media networks such as Facebook, Instagram, and Twitter to breach established profiles and solicit money from contacts, which are then asked to pay the money in Bitcoin or another cryptocurrency.

In 2020, an 18-year-old hacker from Florida was apprehended after hacking the Twitter accounts of Vice President Joe Biden and billionaire Bill Gates, according to reports. In order to collect cryptocurrency payments, the hacker put out tweets from these accounts, promising that “any funds made to the address below would be given back twofold!” Over $100,000 in losses were incurred as a result of the fraud. Similar fraud schemes, this time utilizing Elon Musk impersonators on Twitter, defrauded victims out of over $2 million in the same year as this year. Additionally, the Federal Trade Commission discovered that crypto scammers have pretended to be potential partners on online dating sites, friends, and family accounts on social media who are giving away ‘tips’ on cryptocurrency investing, and even representatives from Coinbase, a well-known cryptocurrency exchange platform.

According to research released earlier this month by blockchain analytics firm Chainalysis, cryptocurrency scammers had a field day in 2018, netting about $14 billion in profits. According to Chainalysis, the emergence of decentralized finance (DeFi) is the most important factor contributing to the spread of online cryptocurrency scams. When it comes to financial transactions, DeFi is the concept of eventually eliminating all existing middlemen in the industry, including banks and attorneys, and substituting them with an automated piece of code published on a public blockchain that approves and controls financial transactions.

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How Will Funds Trace Recover Your Stolen Money?

It is our goal to serve as a fund recovery consulting business filled with professionals that can provide unique solutions for information, money, and asset recovery as a result of fraudulent activity. Funds Trace is a collaborative effort between a group of highly trained lawyers, cyber investigators, and case filers who work together to track down scammers’ digital footprints and assist victims in putting together and fighting their recovery cases. Our firm represents innocent victims of internet frauds, romance scams, bitcoin fraud, forex scams, and other assorted scams which have come to us to help them develop and pursue a case against their scammer. 

Victims of fraud only need to notify the details of their case to Funds Trace, and our team of investigative specialists will take care of the rest. Currently, we are actively and successfully combating all forms of scams ranging from CFD and online fraud to cryptocurrency, romance, forex, investment, and banking fraud. Our staff works with the goal of cooperating with you to ensure that all systems, steps, and processes are 100 percent transparent, quick, and efficient, and, most importantly, of high quality and consistency.

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Get Your Money Back from Your Online Crypto Scammer Today?

The entities that have launched cyberattacks against you and defrauded you out of your money, assets, and information are identified and tracked down by our team of experts. Beginning with coordinating your legal struggle against the scammer and ending with guaranteeing that your cash is successfully transferred back into your account, we handle everything for you. Our experts have over three years of expertise dealing with all types of scams and frauds – investment scams, cryptocurrency scams, online scams, romance scams – you name it, and we will have an expert with over three years of experience assisting you in the process. Over the previous three years, we have recovered $120,000 with an 80 percent success rate, in addition to other recoveries. Funds Trace can also recover your stolen funds in less than a month, which is 50 percent faster than the results obtained by normal funds recovery services, according to the company.

And no, before you get too anxious, our organization has been fully authorized by the appropriate authorities and is regulated under the Funds Recovery Act of 2002. We also have 5-star ratings and reviews – you don’t have to take our word for it; just go to our website and see what our clients have to say about their experience with us!

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