Crypto Recovery Review

Cryptocurrency fraud is not uncommon these days. Unsurprisingly, more and more people are looking for a crypto recovery service that will help them regain their assets. In this aspect, Broker Complaint Alert (BCA) is a leader. So, let’s take a closer look at different types of fraud and how you can recover the funds lost.

What is the difficulty of recovering money after cryptocurrency fraud?

This type of scam is somewhat different from the others. The fact that the subject is crypto complicates the task of asset recovery. Although digital money has radically changed the way we perceive investments, there is a downside — they are quite difficult to trace. The decentralized nature of crypto makes this market particularly attractive to fraudsters.

Since the main idea of digital money is anonymity, lost assets can sometimes be difficult to trace. Moreover, in most cases of such fraud, the victim voluntarily gave their assets to the scammers. Also, crypto owners often use weak passwords. When dealing with such a specific type of investment as crypto, it is important to take care of the quality of protection and use a two-factor authentication system.

How Can Broker Complaint Alert Help?

Digital asset recovery is a rather complicated process that requires professional knowledge and skills. The company’s employees have many years of experience in recovering funds after various cases of online fraud. In addition, Broker Complaint Alert operates worldwide. The company has an extensive database that includes brokers who defraud people.

BCA provides consultations to scam victims around the clock. The company’s advantage is the large staff specializing in various types of fraud. Thus, the client receives assistance from the most qualified professional who has many years of experience with a particular type of scam.

How is the recovery of funds after cryptocurrency fraud carried out?

Each case is individual, but the stolen cryptocurrency recovery service still has a general algorithm for more efficient work. It can be partially changed depending on the client’s request but not dramatically. Let’s take a closer look at how funds are returned after cryptocurrency fraud.

1. Getting acquainted with the client’s case and analyzing it

A detailed assessment of each specific situation is essential for the success of the entire case. This helps determine both the algorithm of actions and the appropriate professional who specializes in this type of fraud.

At the same time, Broker Complaint Alert employees will provide clear answers to all customer questions, whether they relate to a specific case or scams in general.

2. Collecting and processing evidence

To get your money back, you need to prove that the fraud took place. For this purpose, the quantity and quality of evidence and its proper documentation are vital. Often, victims of scams have no experience with such materials. That is why they make mistakes in their preparation. This leads to the fact that it becomes impossible to recover assets lost as a result of cryptocurrency fraud. To avoid such a negative scenario, Broker Complaint Alert specialists will advise the victim of a scam in detail on what evidence is needed and how to prepare it.

3. Filing a complaint

The police, bank, and regulatory authorities must be informed about the fraud. For people who do not have significant experience working with such organizations, this can be quite a challenge. Difficulties arise already at the application stage. BCA professionals will help you contact all the organizations crucial for the recovery of your assets promptly, as reporting scams is a vital step in the fight against fraud. In the field of cryptocurrencies, in addition to regulatory authorities, police, legal organizations, banks, and exchanges, you can also contact the Internet Crime Reporting Center (IC3).

4. Return of funds

Broker Complaint Alert can connect a victim of fraud with service providers who can manage the refund process efficiently and quickly. You can also contact the exchange. If you have dealt with a truly reputable organization, it will try not to lose the client’s trust and resolve the issue quickly. However, this requires proving the fact of a scam. If a cryptocurrency fraud is associated with a broker, a sign of a crime is usually that the broker refuses to withdraw client funds for some reason.

If the broker has disappeared with your money, BCA will help you contact experts who track fraudsters, because nothing can disappear without a trace on the Internet.

Advantages of Broker Complaint Alert

In working with clients, the company has many advantages worth paying special attention to.

  1. Round-the-clock consultations.
  2. An extensive database of fraudulent brokers to quickly find a scammer. It was created by the efforts of BCA and other companies in this field.
  3. The use of extensive relationships with banks, legal authorities, and regulators to recover client assets lost as a result of cryptocurrency fraud.
  4. Individual approach to solving the problem. Broker Complaint Alert employees analyze the situation in detail and offer the best services and solutions that will lead to the success of the case.
  5. Convenient website and form for ordering a consultation.
  6. Prompt response to customer requests.

What services does BCA provide?

The company is not limited to the return of funds lost as a result of cryptocurrency fraud. The list of their capabilities is much larger. Among the main services are the following:

  • Free consultations for victims of various types of online scams;
  • Providing information about fraudulent financial brokers;
  • Assistance in interacting with regulatory authorities;
  • Legal support.

How to avoid becoming a victim of fraud?

It is often quite difficult, as people involved in such activities have been honing their skills for years. Fraudulent schemes are developed to the smallest detail and are constantly being improved. Unfortunately, you can become a target of a scammer at any time.

Broker Complaint Alert will help victims of cryptocurrency fraud get their money back. However, it is better not to get into such situations. And for this, your level of awareness is important. The more knowledge you have, the better your chances of recognizing a scammer and fraudulent scheme in time. So, let’s take a closer look at what you need to do to avoid becoming a victim of a fraudster.

  1. Choose reliable jurisdictions. The more reputable the country in which you work online, the less likely you are to become a target of fraudsters. If you are engaged in crypto trading, ask for advice on the platform and broker you are going to cooperate with. Check their reliability.
  2. Pay special attention to the terms and conditions offered by the exchange. If they are too attractive compared to others, this should raise suspicion. Scammers usually offer more than legitimate organizations.
  3. Be suspicious of unexpected emails. Most likely, they are sent by fraudsters.
  4. Check whether the crypto investment platform is licensed and complies with the regulatory requirements of your jurisdiction.
  5. Keep cryptocurrency keys and personal data in a safe place.
  6. Ask about crypto insurance options.
  7. Be suspicious of unknown cryptocurrencies that are expected to grow rapidly in value. And in general, the origin of any new cryptocurrency should be checked.
  8. Do not download unknown cryptocurrency trading programs to your gadget. Check even well-known applications in detail. Scammers often create fakes that differ by one letter from the original. Pay special attention to the application developer.
  9. Create complex passwords and use a two-factor authentication system.
  10. When interacting with unknown people on the Internet, check the information about them. Pay attention to the authenticity of their accounts. Also, check the spelling of their names. You should be interested in small details, such as a single letter being changed. You should be especially careful if the screen name and username do not match. This may be an attempt to imitate a legitimate account.
  11. Be suspicious of any direct messages, whether they are sent by an administrator or another user.

If you find that your funds are blocked on any of the platforms, do not make further investments to withdraw them. Unfortunately, in this case, you have already become a victim of fraud. The sooner you contact a crypto recovery service, the better the chances of getting your assets back.

What are the types of cryptocurrency fraud?

This type of scam has many variations, but it is based on one action. Fraudsters use someone else’s crypto as a means of payment. However, there are quite a few ways to do this. Below is a closer look at them.

1. Fake cryptocurrencies

This type of scam is quite easy to identify. They are based on the presentation of alternative variants of more significant cryptocurrencies. The fraudsters pass off the crypto as new from a well-known parent company, such as Ethereum. This type of scam works because many people are inclined to invest in cryptocurrencies without even knowing how it all works. In such schemes, fraudsters often use the lost opportunity technique. At some point, the project is closed, and all the money is transferred to the scammers’ accounts.

2. Fake apps

This type of scam is carried out through applications that steal your funds or even personal data. Scammers often create fake apps for cryptocurrency trading. They are rarely found in official stores, but they do exist. Of course, a reputable website tries to remove such apps quickly. However, it takes time and complaints from fraud victims. Therefore, you should be careful about everything downloaded to your gadget.

When working with an application, you should pay attention to its name. Often, fraudulent programs are created based on already existing reputable applications. The same design, the same functions. The difference may be in one letter of the name and, of course, in the fact that the money will disappear without a trace.

3. Pump and dump schemes

This type of scam comes from the stock market. Its essence is that a certain asset is predicted to grow. The offer is attractive because people can buy the crypto for a lower price, which automatically increases its value. Over time, demand begins to exceed supply. After that, fraudsters “drain” the project. It is especially difficult to get a refund after this type of scam.

4. Fake exchanges

Such organizations build a reputation among the cryptocurrency community as legitimate and responsible exchanges. At the same time, they offer better conditions than other similar organizations. Eventually, the offers become so attractive that they are preferred over legal exchanges. As a result, investors buy coins that they will never see any profit from. After a while, fake exchanges disappear.

5. Ponzi schemes

The essence of this scam is that a fraudster finds two investors and offers to put money into their project to double their funds. And, strangely enough, they fulfill their obligations by finding four more investors. Then they find eight more investors to pay the previous four. This pyramid can be quite large. The only question is who will be the one to lose out because fraudsters do not invest — they just take money from new investors.

6. Escape with stolen crypto

Raising funds for the development of their projects is a common story for most cryptocurrencies. To do this, they place ICO coins, which can be public or private. Under such conditions, the price of tokens or coins is lower, which attracts investors, so they buy a lot of coins. However, after the ICO, the people behind the project may disappear with the money. It is difficult to trace the lost assets after that. Thus, running away with investors’ money is one of the most dangerous types of crypto fraud.

7. Phishing fraud

This type of criminal activity works via email. A potential victim is sent a message. The content can be anything. The main thing is to lure out personal information, such as a social security number, phone number, or even a cryptocurrency account.

The latter option is the most dangerous, as it leads to the loss of money. Fraudsters can pretend to be legitimate companies and report that there are some problems with the user’s wallet. In most cases, scammers manipulate either fear or greed. Potential victims are caught on this hook.

8. DeFi fraud

DeFi means decentralized finance. For this purpose, scammers use smart contracts, the codes of which are manipulated. This is earning money on coins through interest. The investor lends them and earns money. The danger is that anyone can launch their own DeFi. Scammers often offer high interest rates and disappear with all the borrowed crypto.

9. Fraud related to cryptocurrency mining

Scammers pretend to be representatives of well-known organizations such as Enkrypt or MetaMask (MEW). They may even initiate friendly relations to make the potential victim trust them. The rest of the process is standard for scams. The investor is seduced by the promise of large profits using special cryptocurrency mining programs. A sign of this type of scam is unrealistically high interest rates.

The victim deposits funds to the website specified to them. After that, crypto disappears. Often, the fraud does not end there. Particularly gullible investors are told that the deposited funds are simply blocked on the platform and that they need to make an additional payment to get them back. All the while, scammers are secretly pumping crypto into their wallets. Since digital money transactions are decentralized, it is difficult to find criminals.

In general, the number of false excuses for not withdrawing funds can be large. The scam will continue until the victim contacts a cryptocurrency service or the police. The first option is preferable, of course, because the police, unfortunately, are in no hurry to deal with such cases. And speed means a lot for asset recovery.

10. Job scams

Even the most reputable job search sites can come across such fraudulent messages. Attackers offer attractive and interesting jobs in the crypto sector. However, you must pay the agent’s commission and provide certain information about yourself. This way, fraudsters steal both the crypto and the jobseeker’s data.

11. Airdrop fraud

Users are sent random airdrops of seemingly valuable tokens. The emails are sent to random wallet addresses. A potential victim of a scam is tricked into interaction. In addition, scammers can use malicious code in the token’s smart contract. In this way, they gain unauthorized access to the user’s wallet. Therefore, it is better not to exchange the tokens received from the airdrop.

Cryptocurrency fraud is spreading quite rapidly. Unfortunately, the number of such crimes is growing. Therefore, people working with crypto must understand the full level of danger and know where to turn if they become a victim of this type of scam. Awareness of different types of cryptocurrency fraud is also important. The more knowledgeable you are, the less likely a scammer will ever succeed in deceiving you.

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