Bitcoin trading has become now more than ever with its value also skyrocketing. This has attracted both genuine and fake traders. Cases of people getting scammed in the course of trade and losing their bitcoins is not new. Sometimes the loss is due to forgotten passwords or corrupted wallets. Whatever the case, help can be found. Bitcoin Recovery is however possible to help those who have lost their bitcoins to scammers.
Experts do the recovery within the shortest time possible. Once a trader realizes that they have been scammed, involving an expert immediately increases the chances of recovery. The experts win by beating the thieves at their game. The following is the step-y-step process of retrieving stolen bitcoin from scammers:
- Experts conduct a cryptocurrency tracing once the matter has been reported. This is accomplished through the use of complex cryptocurrency forensic software. With these tools, Bitcoin recovery experts can tell stolen bitcoin movements and where it has been received. The possibility of tracking the virtual asset service that received the bitcoin makes bitcoin recoverable.
These experts work hand in hand with law firms that specialize in cybersecurity. For the law to be enforced in the recovery of the funds, the scammer must be identified first. Knowing the culprit will make it possible to recover the stolen property as well as get the scammers to pay any damages. Cybersecurity experts trace the coins to see where they went and identify the owner of the wallet.
If the fraudsters happen to make an exchange before the funds are recovered, it is possible to reveal the obtain the identity of the exchange follows the KYC process. Acquiring a legal order to reveal the scammer to get back the Crypto, is possible.
- The documentation of bitcoin happens for every movement and that is why tracing the virtual asset service providers is not a problem. This information is copied to the law enforcement arms where official requests are made to retrieve it to handle cases involving stolen bitcoin.
- Using the information availed through law enforcement agencies, the persons involved in these illegal transactions are then identified. Bitcoin recovery experts help a lot working alongside law enforcement officers and other legal experts to do the bitcoin recovery.
- Following up on stolen bitcoin is serious business. Clients should, therefore, ensure that all information is verified before lodging any claims of stolen bitcoin. Experts are experienced in following the laid down procedures and help clients identify those who stole their bitcoins. Once this information is available, lawyers come on board upon request to help in freezing funds associated with the case.
Since clients can see where coins were moved, lawyers have tangible evidence to take legal action. Once the case is filed and a judgment obtained from the court, an order should be enforced to force the fraudsters to pay for any damages caused.
Experts’ Advice against Bitcoin Scammers
Bitcoin safety measures are better than trying to recover lost bitcoin. Experts advise customers to be wary of:
- Hacks. Cybercriminals exploit the weaknesses in crypto wallets and find a way to steal bitcoins from virtual wallets. Some scammers are also tech experts hence the need to have well-protected crypto storage and exchange platforms.
- Fraud. Sometimes crypto traders get scammed by buyers who pose as genuine yet they are fraudulent. The skyrocketed Bitcoin trade has attracted a lot of scammers who steal from unsuspecting traders. Recovery experts come in handy to get lost bitcoins back from thieves. The sooner the case is handled from the time of the theft the better.
- Platform Theft
Bitcoin exchange platforms are quite secure. However, sometimes addresses and wallets are compromised and this gives room for thieves to steal. Scammers can also use malware to compromise storage even though this is rare. Whichever way that bitcoins land in the hands of thieves, experts can recover and get them back to their rightful owners.
Bitcoin Recovery Help from Experts
Recovering bitcoins lost to scammers is technical but not impossible. Some people try to do it by themselves and they fail due to a lack of the right resources. Engaging the services of an expert is the most promising way to do this. Bitcoin recovery experts have the technology and the knowledge required to perform a quick and effective recovery.