How to Report a Crypto Scam
GET A FREE CONSULTATIONWe all see crypto deals all over the web. Sensibly, most of the time, we ignore them, which is a good idea since the majority of these unlicensed brokers and fly-by-night platforms are crypto scams.
However, some deals seem incredible. Other crypto brokers have a veneer of respectability. They may say they are licensed, have a snazzy website, or give us a reason to trust them. Some bitcoin scams are obvious, but others are crafty, and even sophisticated crypto users can fall for them.
How Do You Know You’re Dealing with a Crypto Scam?
One thing that unfortunately works in the favor of bitcoin scams is time. They have plenty of time to play with until their “customer” actually realizes they are being tricked. It’s often easy to be in a state of denial, particularly if you've invested a lot of money in a deal you feel is a sure thing.
The following are telltale signs of a bitcoin scam. If you see these red flags, close your account and request a withdrawal (if they grant one). Better yet, don’t open an account in the first place if you notice any of these.
- Not licensed.
- Guaranteed returns.
- No identities of people who run it.
- Aggressive demands to keep funding an account.
- Sporadic communication.
- High fees.
- Won't grant a withdrawal.
RECOVERY POSSIBLE?
There is a widespread false belief that crypto recovery isn’t possible. It is true that transactions on the blockchain can’t be reversed, like a credit card chargeback. A refund has to be done through a separate transaction. However, reversal of charges isn’t the only way to succeed with fund recovery. Crypto recovery doesn’t operate through chargebacks, but through other methods.
A successful recovery process involves working with experts like JFD FORENSICS LLC. Our professionals launch a thorough investigation into your case and create reports that will help authorities track down your funds and facilitate crypto recovery.
How to Report a Crypto Scam
The answer often depends on various factors, including how complex the case is, what resources law enforcement has at their disposal and how much time has elapsed.
However, one powerful influence on the success of a crypto recovery is how the bitcoin scam is reported. Simply filing a claim and letting the authorities or the platform do the rest is unlikely to yield success.
Instead, the best way to report crypto currency scams is to give the authorities something valuable–leads, information that is easy to use and apply, and a roadmap to successful crypto recovery.