Do you want to know how a Binance fraud recovery agency can help you get your funds back from fake cryptocurrency investments? This guide will provide the insight you need.
In today’s digital world, cryptocurrency is a popular digital asset that is used for different transactions. Yet, as cryptocurrency becomes more popular, so does the number of crypto fraudulent activities. An increasing number of people are adopting cryptocurrencies to make purchases and pay for services to avoid huge fees and protect their privacy. Also, investors hold various digital currencies as investments to increase their profits.
As a result, many online scammers have also become interested in cryptocurrency. In 2021, cryptocurrency scammers stole a record $14 billion. The main goal of a cryptocurrency scam is to steal your digital assets. This can be done through blackmail, phishing, ponzi schemes, and fraudulent exchanges, among other things.
If you’ve been scammed, you probably feel terrible about what happened and wonder if the money can be retrieved. Read on to discover how Binance fraud recovery agencies, like Global Assets Recovery, can increase your chances of recovering your stolen cryptocurrencies.
What to Do If You Fall Victim to a Cryptocurrency Scam
Although the transparent nature of cryptocurrency transactions can help you find your lost coin to some extent, it’s hard to get back stolen cryptocurrency because there are so many different laws, and not enough people know about this type of fraud. It may be necessary for people to contact a professional investigator who will collaborate with law enforcement authorities and make an effort to recover the stolen crypto.
READ: How to Get Your Money Back from NordFX
On the other hand, be on the lookout for “scammer” investigators who claim to be able to recover money, especially if they demand upfront payment. Here are important steps you can take if you’ve been duped in a cryptocurrency scam:
Locate Your Transaction IDs
Investigators will need all of the transaction IDs for the money you transferred to scammers before they can start to track down your assets. A Binance fraud recovery agency will be able to track the funds and discover exactly where your coins are going with the help of these transaction IDs.
Even if you don’t have transaction IDs, you can still do an investigation. However, having this information will speed up the process of tracking and recovering your stolen funds.
Describe What Happened
A clear and brief description of what happened will help put your case in context and make it easier for an investigator to understand how the money moved. Ensure you include the following details while describing what happened:
- Transaction IDs
- Screenshots of your interactions with the scammer (such as email, text, or Twitter post), where you sent your cryptocurrency from (such as private wallet), where you thought you were sending your money (perpetrator’s private wallet or arbitrage account), and any additional information about the scam and the scammer.
Prove Your Ownership
Usually, law enforcement wants to see proof that you own the stolen cryptocurrencies. To do this, you need to verify that any accounts you initially used to pay money to the crooks are still accessible. Signing a particular message with your private key or sending a small transaction to a designated crypto address are ways you can use to demonstrate that you own a wallet.
Report the Incident to a Law Enforcement Agency
It is important to alert the relevant law enforcement or government body if you believe you or someone you know has been a victim of fraud. There may be regional differences in how crypto scams are reported.
You can use the resources listed below to report fraudulent crypto activities on Binance in different countries:
The United States
Report a crime to the Federal Trade Commission, the FBI’s Internet Crime and Complaint Center (IC3), or your neighborhood police station.
Europol is used in Europe to find the reporting website of your country. Member states that do not have a specific online solution should visit their local police station to file a complaint.
There are different contact details that you can use to get in touch with the Australian Criminal Intelligence Commission to report serious or organized crime activity.
Report online by visiting the Canadian Anti-Fraud Center.
How Binance Fraud Recovery Agencies Can Help You Recover Stolen Cryptocurrencies
Blockchain’s transparency allows the public to view all the details of every cryptocurrency transaction. As a result, there are a lot of self-acclaimed private blockchain specialists and detectives promising to assist victims in retrieving their stolen money. Customers should be aware of these companies.
Also, most of these private services ask for money upfront, no matter what happens. The truth is if they were paid only when the victim recovered their losses, most of them would soon go out of business. What most of these companies offer are “pre-recovery therapies” and not real recovery.
Unlike fake recovery firms, genuine Binance fraud recovery agencies provide results. Such companies provide reports that can help in determining where the victim’s funds are trapped.
READ: Steps for Getting Your Money Back from TradeUniversal
It can be frustrating to deal with cryptocurrency fraud, especially if you don’t know how to get your money back. As of Q1 2022, nearly 300 million people worldwide were using cryptocurrencies. Cryptocurrency scammers take advantage of the rising popularity of cryptocurrencies to mislead consumers into handing over their digital assets using ponzi schemes, phishing, and other tricks. However, there is still a chance to get your money back if you are a victim of cryptocurrency fraud.
You may have a better chance of getting your money back if you report the cryptocurrency scam right away to the exchange platform or the right Binance fraud recovery agency, like Global Assets Recovery. The agent can guide you in tracking down the scammer and getting your stolen funds back. They can also help you take the necessary legal action (such as suing the cryptocurrency scammer) to increase your chance of getting your money back.