As the price of Bitcoin or other cryptocurrencies has risen, so have some of the people associated with them and are thinking of making money in different ways. And then the number of various criminal activities related to cryptocurrency is increasing. At different times, it is seen that ordinary people are losing millions of dollars by falling into the hands of scammers. If you fall into this kind of situation and your bitcoin falls into scammer’s hands then everyone is interested to know how to report stolen cryptocurrency?. We will also try to talk about this today. So let’s get started without delay.
Is It Possible To Get Back My Stolen Bitcoins From Scammers?
I would like to clarify one small thing before moving on to the main topic. Is it really possible to recover lost cryptocurrency? To put it bluntly, when you complete a transaction, it means that you have done everything knowingly. So then it is no longer possible to get the money back from that transaction. If there was that opportunity, many would have misused this system. That’s why you don’t give your bitcoins to scammers in any way, so they are very unlikely to get them back. In a word, there is a 1% chance. Yet not in all cases. In some cases, it is possible to bring back bitcoin, the number of which is negligible.
How To Report Stolen Cryptocurrency?
First, you need to know how your bitcoin was stolen by scammers. Bitcoin scamming happens in several ways. These include binary options scamming, forex trading, and cryptocurrency scamming. If your bitcoins are lost through binary options scamming or cryptocurrency scamming, the chances of getting them back are about 0%. However, if you lost your bitcoin while trading Forex, there is little chance of getting it back. Let’s talk about that.
1. Report To Payment Gateway
The first thing to report is the payment gateway you used to send Bitcoin to a Forex trader or to invest Bitcoin in a Forex trading platform. If you invest any bitcoin on any online platform or website, it goes to their account through the gateway from Bitcoin Wallet. But the money of the platform stays near the gateway for a while before it goes to the owner. If you can share your problem with them while the money is there, they can refund your money by sorting through the information. However, the chances are low.
2. Report To Crypto Wallet
There are some crypto wallets that keep all the information of the bitcoin transaction from the customer’s wallet to them. So that customers can reconcile their transactions later. You can also let them know if you have made a transaction from your crypto wallet. Although they have no responsibility in this regard, they can assist you if you can reach them properly. But you must have the right evidence. Only if the platform you have invested in is actually a scammer can they cooperate with you.
3. Make Social Awareness
There is one more way. It may not get you back your money but it can aware other people from such traps. Tell your family friends and people around you about that fraudulent crypto trader. This will let them know about the trading company and keep them free from such scammers. You can get one more collaboration from their casseroles. That is, if someone has a technique, they will probably cooperate with you.
Things To Consider If You Lost Bitcoin In Scam
There are a few things to keep in mind when it comes to getting cryptocurrency returns. You lost your bitcoin once. But don’t let anyone take advantage of your weakness for the second time. There are many types of fraud online. Another of these scams is the fraudulent return of cryptocurrencies.
After hearing about your problem, many will offer you to get your bitcoin back. There are also many such websites that offer such services in exchange for money. But it is never possible to recover a lost cryptocurrency or bitcoin. If that were possible, Blockchain experts would take over the bitcoin transactions themselves and become rich overnight. He would also return the money to different people after making the necessary purchases and making the payment. So think twice before being deceived.
How To Avoid Bitcoin Loss?
People are constantly losing millions of dollars to scammers. But we can protect our bitcoin only if we are a little more aware. Taking a few small steps will greatly reduce your chances of losing your bitcoin. Let’s find out.
- Curb greed: The biggest weapon used by scammers is to make people greedy. They force people to invest in different places by showing greed. And then they have the opportunity to escape with this money. So never be tempted to become a millionaire overnight and invest money wherever you want.
- Learn about platforms: Before investing in stock market or forex trading sites, you must try to know about them. Because of all the scams that have taken place so far, forex scams have hurt people the most.
- Check URL: Do not invest in any fake website. Before investing in any website, check it out. Read their reviews online and check their URL. Only invest if you feel trusted.
The last thing we want to say is that we are in danger for ourselves at different times. So one should always think twice before taking any action and know well about cryptocurrency. Most people lose cryptocurrency just because they don’t have the right knowledge. And the crypto scams that happen are due to the lack of complete human knowledge. To learn better about cryptocurrency. Think of them as any other asset you have. Then you can keep your bitcoins safe from crypto scams. Thanks for reading the whole article, I am ending here today.