Cryptocurrency Fraud — Get Your Money Back! Ensure a free consultation. If your situation is urgent, please call +1 (951) 368 7700 Bitcoin and Cryptocurrency Fraud - Get Your Money Back! If you were scammed, contact us, and our expert team will work hard to recover your money! Cryptocurrency Scams: Recover Lost Funds Despite government efforts to regulate it, the cryptocurrency industry remains vibrant. Due to the obscurity of this topic to the public, fraudsters exploit it to steal people's money, making it seem like a real investment opportunity. If you fall into a cryptocurrency scam, contact us immediately. Although recovering funds from crypto scams is extremely difficult, we will honestly assess your case and, if possible, make every effort to recover your money.

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How Does This Work? We strive to help clients who have become victims of cryptocurrency scams. Our recovery experts will work to recover your losses and correct the wrongs you have experienced at the hands of unscrupulous individuals and companies acting fraudulently. Additionally, our information guide will help you avoid such scams and prepare for possible future attacks. The first step to protecting yourself from fraud or scams is understanding these threats. However, if you have been scammed, hope is not lost. Continue reading to learn about the most common cryptocurrency scams and how we can help. What is Cryptocurrency? Cryptocurrencies have quickly become one of the most exciting and volatile asset classes in the market. As an investment, Bitcoin has one of the highest historical returns. Bitcoin was born when the Great Depression first hit hard. Bitcoin was designed as a store of value and a medium of exchange, a decentralized virtual currency with a truly fixed supply to counter rampant central bank money printing. Bitcoin can be decentralized due to blockchain technology and distributed ledgers. Three Important Cryptocurrencies Are Cryptocurrencies a Scam? Cryptocurrencies are the Wild West of investment and speculation. It is crucial to work with reputable and (ideally) regulated virtual currency platforms. Fortunately, by 2020, there has been enough time for reputable cryptocurrency exchanges to develop. Perhaps the best known, most respected, and most trusted is Coinbase. Other notable and trustworthy cryptocurrency exchanges include Bitstamp, Kraken, Binance, and Bittrex. But don’t just take our word for it! When it comes to cryptocurrencies, do your due diligence and make it a habit! Bitcoin Mining Scams Mining is how cryptocurrencies like Bitcoin are created, a process known as proof of work. Mining requires substantial computing power to complete highly complex algorithms to record transactions on the distributed ledger. When “blocks” are mined and added to the “chain,” miners are rewarded with Bitcoin. Because mining requires time, resources, electricity, and infrastructure, many scams seek individuals to “invest” in mining projects as a form of passive income. Fortunately, with the advent of third-generation blockchains like Cardano, which uses a staking system instead of mining, this type of scam is less common—it has no significant power or infrastructure requirements and allows individuals to earn passive income more easily than traditional mining processes. Bitcoin Wallet Scams Bitcoin (and all cryptocurrencies) are stored in digital wallets. Wallets have two keys—a private key and a public key. A public key is essentially like an address to send something. A private key grants permission to use or send your cryptocurrency. Bitcoin wallet scams are a common scam targeting newcomers to the cryptocurrency field. Since cryptocurrencies are stored in digital wallets, many cryptocurrency fraud schemes have entered this space, encouraging you to use their wallets. Some scams involve asking you to send your private key—don't do it! Pump-and-Dump Scams A scam almost ubiquitous in the cryptocurrency space is the pump-and-dump scheme. Similar to what happens with stocks, pump-and-dump scams involve individuals or entities acquiring large amounts of altcoins and then releasing positive news (fake or real) to encourage as many people as possible to buy. Social media platforms are the primary channel pump-and-dump operators use. Once the price rises, the operators sell at the top, leaving everyone else to suffer the consequences of a rapid price drop. Pyramid Schemes If you want to see an excellent example of a pyramid scheme in the cryptocurrency field, look at OneCoin. Pyramid schemes in cryptocurrency are the same as Ponzi schemes in any other market; the only difference is that fraudsters are now using the growth of cryptocurrencies to target you and make you believe you will become rich overnight. ICO Scams/Exit Scams ICO stands for Initial Coin Offering. This is similar to the IPO (Initial Public Offering) process but without the traditional regulatory process. From 2016 through the end of 2018, the cryptocurrency market was hit hard, with literally thousands of new altcoins entering the market, all promising to be the next Bitcoin or Ethereum. Some of these new altcoins generated millions of initial investments from individuals, and when prices soared, the owners sold. This is similar to a pump-and-dump, but when it comes to ICOs, it's an exit scam. While this industry is still new, it has matured somewhat since 2008. You must conduct due diligence and thoroughly investigate any new cryptocurrency. This is especially true if you encounter it on social media. High-Yield Return Scams One growing trend in the cryptocurrency space, particularly in the decentralized finance (DeFi) space, is high-yield returns. Many legitimate platforms allow you to deposit or “stake” various cryptocurrencies and reward you with high interest rates. It is not uncommon for regulated and legitimate projects to offer up to 10% interest on stablecoins (mostly cash) or up to 15% interest on Bitcoin and Ethereum deposits! However, be very, very cautious of any promises of returns above 10% to 15%. You must read the “fine print” of legitimate and regulated entities. Some projects require you to keep your deposit for up to 90 days to get the highest yield. Cryptocurrency Trading Scams When Bitcoin and the like became a tradable market, there were few exchanges available. Over time, more and more exchanges emerged. But not all of these cryptocurrency exchanges are legitimate. Many fronts seem to be places to buy and sell cryptocurrencies. The owners of the exchanges wait until many people deposit or even start trading on their platform until the owners basically pull the plug and take your cryptocurrency investments. In addition to cryptocurrency exchange scams, some cryptocurrency exchanges lack security. The most notorious example occurred in 2014 when Mt. Gox (which handled over 70% of all Bitcoin transactions) had 850,000 Bitcoins stolen (worth millions of dollars). Regarding fake cryptocurrency exchanges, some use fake trading volumes to artificially inflate the exchange's volume and liquidity. While this activity is still common, a form of self-regulation in the industry exists, with the website coinmarketcap.com categorizing each cryptocurrency exchange as either honestly reporting volumes or dishonestly reporting volumes. Victim of a Cryptocurrency Scam? How Can You Get Your Money Back? If you are a victim of cryptocurrency or Bitcoin fraud, don't despair. With the large number of scams and the number of people affected over the past five years, global regulators have set up their websites to monitor any signs of misconduct in the crypto space. And it's reassuring to know that many have recovered Bitcoin and other cryptocurrencies—nothing is truly anonymous. The first step is to use our fund recovery company: Payback, and fill out our contact request form. We will assign a dedicated caseworker to your case, who will work with you throughout this challenging process and try every possible way to get your money back. How to Avoid Cryptocurrency Scams? Scammers and fraudsters are everywhere, especially with Bitcoin. Be extremely cautious when it comes to opportunities in this investment space as a brand new asset class. How Can You Spot a Bitcoin Scammer? Bitcoin scammers are like any other scammers. They will use high-pressure tactics, make you feel like you're missing a once-in-a-lifetime opportunity, and show you false promises of wealth and results. They will make it all look too good to be true. Will You Lose Money on Bitcoin? Absolutely! Like any investment in any speculative market, there is always an inherent risk of value loss and your funds. But that is different from losing money because someone scammed you. Value loss and market volatility are one thing, but fraud is another. How Can We Help You Get Your Money Back? We specialize in recovering money from people who have fallen victim to fraudsters and scam artists. We use a thorough process to investigate and track down those who have deeply wronged you.