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CRYPTOCURRENCY FRAUD – HOW IT HAPPENS AND HOW TO FIGHT IT

Ever since the launch of the first cryptocurrency, the entire industry has been embroiled in controversy. There is no denying that crypto is the cause of hundreds of rags-to-riches stories. But ,there is also an equal number of stories about cryptocurrency fraud. Also stories exist on how it has enabled scammers to make millions from unsuspecting investors and buyers. The profit potential of the market always draws people in. However.  if you truly want to real its benefits, you have to know how cryptocurrency fraud happens. And, how you can avoid it. If you are unable to do that, you will end up losing your hard-earned money.

Let’s take a look at how cryptocurrency frauds happen and how they can be avoided:

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  • Fake crypto investment platforms

One of the easiest ways for scammers to commit cryptocurrency fraud is through fake websites or mobile apps. A lot of these software are out there. Because they resemble authentic crypto websites or apps, a lot of people don’t look too closely and fall into their trap. However, there are ways for people to identify such websites, which include checking the URL of a website to ensure it has ‘https’ in the site address and there is a lock icon next to it. Similarly, you should ensure there are no changes in the URL at all.

As far as mobile apps are concerned, scammers make fake apps that have similar names and user interface as the authentic ones. Before entering your log-in credentials on any platform, you should ensure whether the app or website is secure or not.

  • Giveaway scams through social media networks

Misleading tweets on Twitter, posts on Facebook or giveaways on Instagram can also be used to commit cryptocurrency fraud. If you come across a social media post that offers a cryptocurrency deal, which seems too good to be true, the chances are that it is fake. Even influencers will advertise giveaway schemes, asking you to send a little crypto to the address provided, and they will send you five times more. This is just another elaborate fraud.

  • Scamming emails, technical support, phishing and impersonation scams

These are some of the most common ways to commit cryptocurrency fraud and most people have come across it at least once. Everyone gets a lot of spam emails or calls that are impersonating an officer from your bank. Their aim is to fish out your sensitive information, such as login credentials. As far as cryptocurrency is concerned, scammers pretend to be from your legitimate crypto wallet or platform and have identical branding and logos. They usually comprise of malicious files or links, so you should always avoid clicking on a link inside such messages or emails.

In fact, some cryptocurrency frauds go as far as announcing fake initial coin offerings, or ICOs, for stealing funds. You should never fall for these fake website offers and should take some time to go over the details. It is also recommended that you never share your passwords or security codes and make use of 2-FA (two-factor authentication). Ignore outbound calls asking for your confidential personal information because it is possible for scammers to poof legitimate phone numbers. Never give remote access to your device to anyone.

  • Investment frauds

Another common cryptocurrency fraud involves scammers setting up seemingly legitimate platforms, which claim to offer mostly unrealistic and high returns in exchange for sending cryptocurrencies. In such situations, you should be skeptical because the returns are mostly unrealistic. You should always send cryptocurrencies to trusted and known third parties only. If you contact someone new, research the exchange or organization thoroughly before trusting them with anything.

  • Initial Coin Offerings (ICOs)

Similar to how IPOs work in the stock market, ICOs, or initial coin offerings, are essentially fundraising mechanisms that are used for newly launched cryptocurrencies. Those who invest in ICOs are given tokens in the new venture. Billions of dollars are poured into ICOs on a yearly basis, but not all ICOs are legitimate. Some scammers have used them to commit cryptocurrency fraud and investors later discover that these ICOs don’t have any technology or real business plan behind them. Therefore, you need to be extremely cautious before investing in ICOs, regardless of how great promises they make.

  • Unregulated exchanges and brokers

There are hundreds of unregulated online brokerage firms and exchanges that offer cryptocurrencies and other crypto trading products. But, these are also a way of committing cryptocurrency fraud, so it is essential for people to be wary of too-good-to-be-true promotions and promises of get-rich quick schemes because this could be just another cryptocurrency fraud. Once you have invested money in such firms, they will charge you outrageous commissions and can also make it immensely difficult for people to withdraw funds. In the worst-case scenario, these unregulated brokers and exchanges will steal your money.

  • Mining frauds

It is possible for any regular investor to mine cryptocurrencies through cloud mining, which can work without expensive hardware. There are many cloud mining services that allow users to rent server space at a fixed cost for mining altcoins. This can come off as a very lucrative option for mining altcoins while sitting at home and not having to invest in hardware. However, you should bear in mind that not all of these services are genuine and you could end up becoming a victim of cryptocurrency fraud.

How can you identify the frauds? One way to go about it is to see if they are making any lofty promises. The fraud ones tend to make promises of high returns on your investment and don’t mention any hidden fee that might be applicable on the returns. Moreover, their systems are smart enough to keep on sucking money from the unsuspecting investors.

You should always be vigilant when you are investing in the crypto industry in order to avoid becoming a victim of any kind of cryptocurrency fraud.

See Also: Get your money back guaranteed with shield forensics

investment scams
The Best Ways To Recover From Scam Investments

Being a victim of scam investments is a mind-numbing experience. There are Ways to recover from real estate scams, for example. A lot of people give up because of the lengthy process and don’t know where to start. Recovery from scam investment is challenging but possible. Check the best ways to recover from the scam investment below.

Bank’s Reimbursement

When fraudulent transactions that involve your financial account occurs, we highly recommend you contact your bank first. Banks must protect their clients against fraudulent transactions. However, it will depend on the payment method of fraud cases.Bank Transfer: Banks may be able to recover your funds when someone tricks or forces you to transfer money to investment scams.

Credit Card:

Contact your credit card issuer, immediately you suspect a scam by an investment company using your credit card information. Credit card payments have protection and liability against fraudulent transactions. Even though it doesn’t guarantee a direct recovery, contacting the card issuer allows you to get the solution sooner.

Debit Card:

If you make the payment with a credit card, you can request a card issuer or the bank’s chargeback. They will proceed with recovery through the card network or other bank(if the scammer’s account is in another bank). The sooner you contact the bank, the higher chance you can fully recover your lost money.

Unauthorized Payment: When someone retrieves funds from your account without your authorization, contact the bank immediately. The bank will reimburse your lost money. If they ignore the complaint, you can follow up with the Ombudsman.

Scam Investments and Fraud Recovery Expert

There are scam and fraud recovery companies that can help you Recover Your Funds from Unregulated Investment Scams, especially in the chargeback process. They also investigative and carry out forensic procedures to help you structure your chargeback request. Firms with experience in recovery know how to build proper chronology that contains truth and is convincing. You can request a payment you did not authorize. Use a third party mandate to assign the firm for taking care of your reimbursement from the bank.
However, there are various recovery firms available out there, and not all of them are reliable. Get a proper recommendation over a fraud recovery firm or do your research on them, especially about the success rate, client’s experience, price, etc. Finally, you need to find one you trust because you provide them with an attorney’s right to take care of your financial accounts. Do you want to know how I can help you to recover your losses in a few days? Beware of fraud recovery scams that impose a legitimate service but stealing your information.

Legal Support

Whenever a fraudulent investment company scams you and chargeback or recovery attempts result in nothing, consider legal support. Fraud attorneys provide prosecution and defense services. They legally support you against the fraudsters in the court and hope to reclaim your lost money. If the subject is in the reach of the law where you’re residing, you get reliable legal support to contest your case.

However, not all lawyers specialize in handling fraud cases. You need to find attorneys with a strong background in fraud cases and always check their portfolios. When looking for legal support from a fraud attorney, make an initial consultation. Also, make things clear up front whether they can help you and how far they will involve themselves in your case.

Making A Report

Depending on where you live, each country may have its investment regulatory authority. Legitimate investment companies can register in those bodies. If the company that has scammed you is registered, then you can make a report to them. The authority would assess your account thoroughly. They will review the data you provide first. Next, they send Criminal investment scams to police for further investigation.

Take note that during the assessment process, you will answer some questions. The questions are to help build the background of the fraud case. At this point, you’d need to properly prepare documentation, screenshot, digital & non-digital evidence to support your fraud report.

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Ethical Hacking Platform

There are pro ethical hackers committing fraudsters and scammers. Some of these hackers are in the community that helps people to recover their money from fraud investment. Ethical hackers refer to hacking practitioners that use the white-hat method to conduct a system auditing. When helping investment scam victims, these hackers use particular hacking approaches to reverse the transaction so you can get your money back.

Unlike using a recovery firm’s service, ethical hacking firms may not work with the bank, card issuer, or card network. They might not guarantee a full recovery, but they may provide you with valuable data or information for your effort. If you’re considering using this service, it’s highly advisable to get a recommendation or preference.

Making Legitimate Investment

Sometimes, the cure for being scammed for fake investment is to do the legitimate one. We all know that being a victim of a scam affects financial and emotional conditions. If your financial situation allows, you may consider making a new investment to recover from your former loss. This time, use a respective broker or investment company and start to build your assets.

Emotional and Financial Support

What if you could recover the money you lost from scam investments? ways to recover from various scams and get a reliable solution. Recovering from a scam investments is also about finding the right support for your condition, especially for emotion and finance. A recovery process could be time-consuming and exhausting for scam investment victims. A chargeback process can go up to 90 days, depending on the case. However, there are chances where you can’t get a refund over your loss from a scam investment. Don’t give up, and be consistent with your efforts. That’s why finding relevant support through these challenging times is significant for recovery itself.

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scam, hacker, security, online scam
How to recover money from a scammer

Are you a victim of a scam, have you been ripped off by a scammer and desperately trying to find a way of getting your money back? You are at the right place! In this post, we are going to show you the effective steps to take once you have been scammed that will enable you to recover your money back.

See Also: Get your money back guaranteed with shield forensics

But before we process, have it at the back of your mind that there is every tendency that you will not get your stolen funds back, depending on the type of transaction, that is, how you were scammed. But relax, there is always a solution and a better approach to every scam situation.

It is somewhat shameful to admit that you fell for a scam, especially when you are educated and affluent. Nobody wants to be looked down on like a fool or careless crypto user, but in reality, it is the immediate steps you take after you have been scammed that will determine whether you will recover your money or not.

If you have been very unfortunate enough to have fallen for scammer’s clever tricks, this guide has been developed to give you tips that will hopefully help you in recovering your money back.

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So how do I really recover money from a scammer?

One of the immediate and crucial steps to take after you have been scammed is to notify the proper authorities as soon as possible for help recovering lost funds. This is not only effective but also a way you can help others not to fall for the same trap that you have learned lessons from already.

You would be lucky if the scammer used the identity of a legitimate business or government agency because you can contact them. It should not be a new thing to you that the names and reputations of these legitimate businesses are being used to swindle people.

The main point is that if you want to recover your money that has been stolen, the most effective step is to tell someone. You cant do it alone, and even if you can, you are not in the right state of mind to do so.

Who you contact about your stolen funds will now determine your progress on recovering your money. The last thing you want is to contact a scammer who is possing an agency that can help you recover your stolen funds and then end up ripping you off and destroying your fight spirit.

The longer you wait to tell someone, the harder it will be to minimize the fallout and successfully recover. While you may want to share the situation with your friends and family, you should contact a trusted fund recovery company that will not only help you recover your stolen funds but also offer financial and emotional guidance. This is the point where we come into play to be your savior of the day.

At “Funds Recovery”, We know how to recover your funds and we have helped thousands of scam victims worldwide to recover their funds. No matter how complex your situation is, we have a solution for you. Remember, an effective step you should take to recover your lost funds is to contact someone! And we have positioned our team as the number one trusted fund recovery company that you can trust. Contact us today before it is too late.

See Also: Get your money back guaranteed with shield forensics

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How to recover my lost funds from binary options

You are here because you want to recover your lost funds from the binary option, or perhaps, you are searching for information that will help a friend or loved one recover his or her lost funds from the binary options. Whatever the case may be, this is the right guide for you because we are going to show you the right procedures involved in funds recovery from binary options.

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There is no doubt that binary options scams are real and more people fall for deceptive scammers trick. If you among those people who have lost their hard-earned money through these binary options Tradings, it may seem like you only have fewer options for funds recovery.

You should not be scared of binary options scams because the truth is that they can be easily identified. I consider some testimonies on forums fake sometimes. You don’t need to have dozens of scam victimization before you become an expert in identifying scammers on binary options.

You should also be able to wonder why an organization or a Legit Freelancer will make use of vulnerable mailing services that bring out their vulnerabilities. It pretty much explains their ingenuousness. But f you are just realizing this, and perhaps, you have learned it the hard way, this post will show you how you can recover your money back from the binary option.

See Also: Get your money back guaranteed with shield forensics

Is there help for recovering lost money from binary options?

The answer is YES. But who you consult matters too. We strongly believe that anyone who claims to be able to help you recover your money would be LEGIT hackers. This is what we strongly believe because most Binary option companies are a scam, pretty much explains that they have weak Database security.

But there is another easy way that users can get their money back and it is called ChargeBack. Have you heard of Chargeback? It is an effective way to claim your money back directly using your card issuer or bank.

When using Chargeback, you are making direct contact with your card issuer and back and they will deal with the company that ripped you off in terms of communication and all. This simply implies that you do not have to deal directly with the binary options company that scammed you directly.

When using chargeback to recover lost funds from binary options, there is every possibility that you will get a refund because you are favored as the customer issuing a chargeback. Since your bank is going to be taking your side, they will communicate with the binary options that scammed you and request proof that quality service was offered. If you still find it difficult and a little bit complex to hand all these yourself, you can always contact the “Funds recovery” team for further guidance. Remember, the earlier the better.

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Is Shield Forensics legit?

Many people usually and constantly want to be sure that Shield Forensics is legit. This is understandable because if you are a scam victim, the last thing you would wish for yourself is to be further scammed by any person or organization that offers stolen Shield Forensics help.

In this post, and with every down brightness, you will be exposed to the truth on whether Shield Forensics is legit or not. You will also be exposed to the important nuggets to look into to easily identify a scam Shield Forensics organization.

But before we proceed, is it important that the air is cleared on the legitimacy of Shield Forensics?

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If you are a scam victim of either binary options, forex, or cryptocurrency, there is surely a way to recover your stolen funds. This is an aspect most victims look into once they have been scammed.

And yes, Shield Forensics is legit and it is the only way you can successfully recover your stolen cryptocurrency.

For you to be here, it means that you are quite aware of the different scams in the online trading brokerage ecosystem.

In this connection, we have seen the uprise of various fund recovery companies promising to help recover stolen money for scammed users. These Shield Forensics services center around Forex and Binary options traders. But are they truly legit?

So here is the catch:

Many recovery companies are doing an excellent job of helping scam victims recover lost funds. But the reality is that there are scammers who pose as fund recovery companies to further swindle clients, thereby brutalizing their spirit to fight for their stolen funds.

While fund recovery is legit, crypto users should also be aware of the different ways scammers go about ripping off victims.

In this same connection, it is equally important that you are briefed on how you can easily spot a fake fund recovery company.

Fund recovery is legit, but you should be careful about contacting a scammer posing to offer asset recovery help.

So, to help you, These are the few important things you should know to detect a scam fund recovery.

A significant sign that usually flies the red flag when examining an asset recovery company is when they request payment in advance. This should give a red flag because most reputable firms don’t charge a fee until services are rendered.

See Also: Get your money back guaranteed with shield forensics

Fake Shield Forensics companies usually make use of this “now-now” aggressive strategy that will make you think everything has to be done in a second.

A legit fund recovery company should give you that time you need and also offer guidance when making a financial decision. Anything in opposition that is found in a fund recovery company should ring the alarm bell.

As a customer, you should not fall for Fund recovery companies who claim to have inside information or government connections that can help you recover your lost assets.

All those special access or contact with the federal agency is a fat lie because it costs nothing.

All in all, the telltale sign that most users use to detect a fake Shield Forensics company is when they demand you to pay upfront. You should not be under pressure and should not be asked for confidential information. There are things you can do for free but a fake Shield Forensics company would promise to do it for a fee. This includes filing a complaint or contacting your bank.

To crown it all, it all boils down to contacting the Shield Forensics to be rest assured that you are in safe hands. Shield Forensics is a consulting firm that specializes in the recovery of assets from online and offline financial fraud. Our primary focus is on Binary Options, Crypto Currencies, CFDs, and Forex scams, we have created the biggest database by far on all of those scam brokers. And this is one important reason you should trust us.

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