Cryptocurrency Scam Recovery

Despite the improvements in regulations and enforcement in the cryptocurrency market in recent years, there is still a large number of traders and investors falling victim to cryptocurrency scams. 

Scammers are always on the lookout for ways in which to steal your money and with the huge expansion in cryptocurrency, there are now plenty of opportunities for traders to fall victim to cryptocurrency scams. There are many common crypto scams which, sadly, a number of traders fall victim to. With our cryptocurrency scam recovery services, depending on how you lost your crypto funds or the type of investment scam you’ve been involved with, our team of UK-based legal experts can begin the process of tracing and recovering your lost funds. 

Call now on 0203 695 9239 or arrange a FREE consultation and start recovering your losses.

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What Is A Cryptocurrency Scam?

Cryptocurrency scammers are using both old and new techniques to steal funds through cryptocurrency scams. As always, where money is concerned, scams will likely follow and this is the same with cryptocurrency. Cryptocurrency scams often aim to gain private information, such as security codes or sensitive information, or trick an investor into sending cryptocurrency as a form of impersonation scam.

Crypto scammers will often use fake trading platforms as a way of enticing traders to make investments in unusual ways, such as depositing large amounts or going for particularly big and expensive coins, such as Ethereum or Bitcoin. Although the trading platforms have been created by scammers and are fake, crypto scammers encourage clients to buy legitimate cryptocurrency from legitimate exchanges. We don’t rely on information from scammers, but instead, use the Blockchain to unravel where the property has gone.

This is often where a lot of confusion is caused by other recovery solicitors, who will simply go to the bank and request a chargeback, however, as the crypto lost as a result of the crypto scam has gone to a legitimate end destination, the banks don’t always have a duty of care in place. This means that often, they won’t grant a chargeback. 

At Wealth Recovery Solicitors, we operate differently from other recovery companies, with good processes in place. We don’t simply just speak to your bank on your behalf to request a chargeback or use CRM and APP codes and neither do we use free tracing technology to try and find the destination of the crypto lost as a result of a cryptocurrency scam. 

Free platforms such as Blockchain Explorer or Etherscan which are used for free tracing are highly unreliable and won’t always provide you with the results required in order to trace the final destination of your crypto and recover your lost funds. Instead, we use our dedicated technology and expertise to trace and recover crypto, with the facility to trace over 100 different coins.

The team were very professional throughout the process

Josh and the team were very professional throughout the process. I never believed I would ever get all that Bitcoin back. Nothing like any other recovery company or law firm. Actually know what they’re talking about and don’t just do one dimension attack of the banks.

Jake

A big thank you to the guys at Wealth Recovery Solicitors

A big thank you to the guys at Wealth Recovery Solicitors, namely Josh and Thomas, who successfully fought my corner and got my bank, First Direct, to accept responsibility that they had been neglectful in their duty of care towards me when I was sending money to Hyperverse; FD refunded the full amount.

Diksha Chakravarti

Wealth Recovery Solicitors have been really amazing

The team at wealth recovery solicitors have been really amazing. They have recovered some of my funds and are working on recovering the rest for me now. I really wasn’t expecting anything back at all so very grateful for this. The whole team pay a lot of attention to detail and reply quickly to my queries. I would highly recommend this firm.

John Ramsdale

Signs Of Crypto Scams

With cryptocurrency scams, often the sooner you spot and identify that you have been a victim, the easier it is to recuperate any lost funds. There are some ways in which you can spot the signs of common crypto scams and if you want to avoid falling victim to these scams again or in the future, learning more about the signs is the best approach you can take.  

Promises Of High Returns

A lot of cryptocurrency scammers will promise you the world in terms of returns if you invest with them. If something seems too good to be true, then it usually is, so always do your research into the promise of high returns.

Asking For Fees To Release Funds

Another common identifiable trait of a crypto scam is if you are asked to pay management or administrative fees, tax payments or “release funds” for the investor to release the funds back to your wallet. If someone you’ve traded with is asking for additional fees to release your funds back to you, then this is a sign of a crypto scam. Usually, in this case, the investor has used your investment to then go on and make their own, typically losing funds in the process, or just want to make additional funds on top of those they’ve already made.

Making Unusual Trading Requests

If an investor is asking you to make unusual trades or investments, such as only investing in certain, large coins, or depositing big amounts at once, then this can also be a sign of a cryptocurrency scam.

Confidential Support

If you fall victim to a cryptocurrency scam, then we understand that you may feel embarrassed or have a lack of confidence in making investment decisions again. We’re here to reassure you that there is no embarrassment involved in being the victim of a crypto scam, however, we offer confidential advice and consultations as part of our services. 

The more investors who stay quiet about falling victim to cryptocurrency scams, the less that can be done about them for future investors, but that doesn’t have to be the case. With the support of a trusted and experienced solicitor, we may be able to help you recover funds from cryptocurrency scams and bitcoin trading losses. 

Contact WRS Today 

If you believe that you have been the victim of a cryptocurrency scam, then we urge you to contact our friendly and knowledgeable team who can offer you confidential advice. We understand that being the victim of a cryptocurrency scam can be tough to handle, but we hope that our support, action and guidance can enable you to recover lost funds and regain a sense of confidence and security in making trades and investments online.

Fill in the form below and let us see if we can help get your money back


    When are you available?*

    Yes, scammed crypto can be recovered in many cases. Investment fraud lawyers, like ourselves at Wealth Recovery Solicitors, can utilise their expertise and tracing softwares in order to track the funds involved in the scam and recover them. The sooner the better when it comes to recovering scammed crypto, so as soon as you suspect you’re a victim of a scam, get in touch. We’ve recovered over £25 million for our clients to date, so it is possible for scammed crypto to be traced and returned to you.

    Many crypto scams begin with you being approached over email, text or social media with a fantastic investment opportunity that seems like it can’t be missed. Usually, there is a time restriction on it to encourage you to act quickly, or the message may contain a link that steals your information and data once you click on it. If someone ever approaches you about a cryptocurrency investment, it’s best not to engage and instead, spend time carrying out your own research to identify your own investment opportunities.

    If you think you’ve been a victim of a cryptocurrency scam, you should:

    • Contact your bank immediately to see if they can prevent any payments from going through.
    • Once you’ve spoken to the bank, make sure to report the incident to Action Fraud and National Cyber Security Centre
    • If the bank was not able to stop the payments and you’ve lost money, get in touch with us. Our team of UK based solicitors may be able to help and retrieve the lost funds.

    There are many different cryptocurrency scams that are in circulation, including:

    • Giveaway scams – scammers will promise prizes, free money or cryptocurrency in return for either payment or details, which they then use maliciously
    • Celebrity endorsement scams – scammers pose as respected celebrities in the world of tech and finance to encourage people to make fake investments
    • Pump and Dump scams – scammers work together to drive up the value of a particular crypto investment, then encourage others to invest, before pulling out of the deal and leaving the investment worthless
    • Fake websites – full fake websites can be set up, either impersonating genuine websites or just realistic looking crypto websites, that scam victims
    • Investment scams – crypto scammers will approach people with “business opportunities” that are too good to miss, usually with a time element to push people into sending money quickly before they can think too much about the investment
    • Phishing scams – these scams are common across many different industries, where you’ll be sent an official looking email that encourages you to give away sensitive information, like private crypto wallet keys

    In order to make trade safely in the cryptocurrency industry, you should always thoroughly research any exchange before you buy crypto, as it’s very common for “fantastic opportunities” to be pushed on social media that end up being fraudulent. Excessive marketing pushes are common in cryptocurrency scams, so conducting your own research to decide on the best investment opportunities is key.

    You should also always read the whitepaper of the cryptocurrency, which is designed to help people understand the scalability of the investment. If these are poorly written or not available, then this is an indication the cryptocurrency may not be genuine.

    Lastly, you should store your crypto in a secure wallet and ensure that you never give away the wallet key to anyone to help protect yourself from cryptocurrency scams. Just make sure that you have a physical note of the key somewhere secure, as if you lose or forget it, you will likely lose everything within it.