According to a report published by Kaspersky in 2019 on cryptocurrencies, approximately 19 percent of survey respondents stated that their cryptocurrency exchange accounts had been hacked, and another 15 percent stated that they had been the victims of theft at one time or the other.
Because of this, if you have any savings and have put them in Bitcoin or any other kind of digital currency, they are at risk of being stolen by cybercriminals. Having said that, in the event that the worst-case scenario materializes, is it possible to retrieve cryptocurrency that has been stolen?
According to Coin Dispute Network, retrieving your stolen cryptocurrency is possible. That’s why we had an interview with one of the employees at Coin Dispute Network. This was how it went.
Yes. Once your virtual currency has been stolen, it’s very unlikely that you will be able to get it back. Since the system is anonymous and the thief would almost surely use a cryptocurrency exchange to promptly convert the stolen coin to fiat, theoretically, you can track your stolen crypto by looking at the blockchain.
Yes, the majority of transactions leave a paper trail that can be followed to identify the perpetrator. Even if you’re able to track down the transaction’s origins using public ledgers, the decentralized nature of most cryptocurrencies means you’ll have limited alternatives for getting your money back.
You should weigh all of your options before deciding on a cryptocurrency recovery strategy because the process can be expensive and emotionally demanding. Paying for crypto handling/holding classes or hiring a professional recovery service is a matter of personal choice. This is especially true if you haven’t invested too much of your investment capital in this asset class.
Yes, I think people should use crypto recovery services to recover their money, especially if it’s a large sum. However, you have to be careful of recovery scams.
If you’ve just lost a chunk of your earnings or retirement nest egg due to a cryptocurrency scam, an offer to recover your lost assets may sound very enticing.
When people lose money, they want to get it back. Sadly, the offer might just be another con job, adding salt to injury for many people who have already been victimized by fraud. Advance-fee fraud is another name for recovery scams. This type of fraud occurs when a person is requested to pay an up-front charge in exchange for the possibility of receiving a significantly larger quantity of money at a later date.
Recovery frauds are perpetrated on victims who have already been victimized by other types of fraud. Therefore, you need to exercise caution while selecting the recovery agency that you will work with.
You can talk to one of our experts if you have been a victim of crypto fraud. We at Coin Dispute Network offer free consultations and complimentary blockchain analysis to help discover what recovery options may be available to help crypto victims.
If your assets were stored with a larger and more well-known exchange, then that exchange is most certainly aware of the situation, and they have most likely started the process of recovering from it. It is possible that you are not the only person to have been affected by this.
As a result, it’s quite likely that they have already begun working to comprehend the problem in order to attempt to recover assets on behalf of their customers. Having said that, it is essential that you are aware that they are not protected by the government, and as a result, it’s possible that not all of your assets will be returned.