We are all aware of how fast cryptocurrencies and Bitcoin as one of the leading ones is climbing high on the market. However, as their popularity rises, dangers appear at all corners. Mainly, they’re related to scams and people trying to take what isn’t theirs to gain profit.
Because of this, the complaints of scammed Bitcoin and stolen cryptocurrencies are frequent. This makes the owners anxious to retrieve what belongs to them, including their initial investments of the funds. As much as it may seem impossible to achieve this, there are luckily some legal ways you can try if you’re one of these people.
Here we’ll give you an idea of what you can do and how to protect yourself and your cryptocurrency. So, let’s start!
How to Recover Cryptocurrencies
Firstly, it should be noted that speed is crucial in these situations. The faster the person reports the scam or theft, the more chances they have of recovering the cryptocurrencies. The truth is that they should be traced quickly after the crime. Otherwise, the thieves can transfer them somewhere that isn’t easily reachable or mix them with others thus weakening the trail.
Connected to this, the legal system can be of great help. The court can issue an order for freezing the wallet where the crypto funds were located in order to prevent them from moving further. Also, due to the Blockchain’s transparency, the thief of the wallet can be traced and their identity can be uncovered, allowing the real owner to gain control of the funds again. However, you’ll need to hire a legal team with experience in this matter to help you with this.
Additionally, there are platforms with teams behind them that specialize in frauds of this type. So, if you want to recover scammed Bitcoin and stolen cryptocurrency ($50,000 USD and above), you should pick a site that looks legit and lawful and get in touch with the experts in this field. Actually, the whole process of reporting and getting your cryptocurrency back is simple. All users should do is fill out a form, sharing more details regarding the scam or theft, getting it approved and discovering the fees, and finally waiting for the investigation to be over and the funds to land back in your wallet.
Protecting Your Funds
One of the most efficient ways to keep the funds and yourself safe is to be careful who you trust. When some investor comes to you with an interesting offer you should firstly check their identity and see whether they’re legit and officially registered. Also, you can go over their social media profile as well as look for testimonials of other clients.
Leaving this aside, it’s recommended to utilize special software that can prevent online scams and/or theft.
A Final Word
After all of this, it’s certain that all types of bad behavior can happen online. And it can result in people losing their cryptocurrencies or being scammed. We hope that we prepared you for such a situation and helped you discover how to stay protected.
Now we would like to hear your experiences regarding this matter!