Cryptocurrencies have become global assets and investment schemes. With lots of people and organizations transacting with crypto on different exchanges, there are a lot of unusual things that often happen. Crypto scams.
How To Get My Crypto Back From Scammers
If you’ve ever asked “How to get my crypto back from scammer?” Then, read along as we give you tips to get your crypto back from scammers.
What are crypto scams?
Crypto scams are illegal activities that involve stealing people’s cryptocurrencies through fake deals, phishing, Ponzi schemes, and hacking. It’s common to see victims of crypto scams search on Google for “How to get my crypto back from scammer?” these days. But the question is: can crypto be recovered from scammers?
The answers most people often get are discouraging. It’s possible, actually. But you need to know that crypto is decentralized; nobody controls it. It’s not like a bank where you get debited or face any issue and you have to call your bank manager. So fund recovery chances are very low.
How To Recognize Crypto Scams
Lack of transparency
When you notice the person or platform you are dealing with is not being entirely transparent, that’s a big red flag. Don’t put your money into such deals or investments.
Phishing links are popular ways to steal people’s crypto these days. Avoid airdrops and crypto projects with suspicious or malicious links to prevent scammers from stealing your details.
Assurance of high return on investment
Once a crypto investment platform promises or assures you of a high return on investment, run! Crypto is a slow and steady business, and such gimmicks are an avenue to lure you into their scams.
Pressure to act fast
Scammers often like fast deals. They don’t want you to calm down and reason about the downside or have a change of mind. What they do is sweet talk you into making decisions fast. Before you close your eyes and open them after agreeing to such, they are gone; you’ve lost.
How To Get My Crypto Back from Scammers?
Getting your crypto back from scammers is somewhat impossible because of how the system works. However, you can’t just stay and do nothing. Below are some of the things you can actually try to addresses your query of “How to get my crypto back from scammer?” Not 100 percent guaranteed anyway.
Report to your wallet or exchange provider
Every crypto exchange allows you to report scams. When you report it to them, they will investigate and then take the necessary steps. Sometimes they may freeze the funds.
Report to the Government
Some countries have provisions to look into situations like these. You can report to the government through the appropriate website. Though, your chances of recovering the crypto here are better if the scammers actually reside in the same country.
Use service of a Crypto recovery platform
There are some platforms, like Cryptotrace, AssetsReality, and Redley Reclaim, among others, that specialize in crypto recovery. Do enough research before choosing any of them. Anyway, they can help you track the scammers, get their location, and all that, which can at least give you a lead to getting your money back.
File a lawsuit
If you invested in an organization or platform with your cryptos and everything turned zero before you opened your eyes. Filing a lawsuit may help you get your funds back. Though it really depends on whether the platform is based in your country. If it’s someone you know, file a charge and get your money back.
Being robbed of your assets can be quite painful. It is, however, sometimes impossible to recover your cryptos. You can try out these steps to see if any of them work. It’s important to learn your lessons too. Don’t go about looking for Ponzi schemes to double or triple your investment; rather, protect it and continue building. We hope you find this article on “How to get my crypto back from scammer?” helpful, if you did, you will find this article on how to recover crypto sent to wrong address helpful. Visit again for more useful updates.