Ways to recover lost, hacked or stolen cryptocurrency
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Every fortune
comes with a little bit of risk, so does cryptocurrency. You might have heard
of at least one story of cybercrime where people have lost their
cryptocurrency. Cryptocurrencies are typically the high priority target of
cybercriminals or fraudsters. In case, cybercriminals have access to your
currency, they can directly target your wallet or hack the exchanges. In these
uncertain situations, the person needs to take measures as soon as possible.
This article gives you insights on how to recover your lost cryptocurrency, which hacked or stolen.
Here are a
few ways to recover your lost, hacked or stolen cryptocurrency:
Report to
police: The first
instinct of a person against any scam, or theft is to reach out to the police.
This is what you need to do in case of online crime as well. Crypto frauds must
be reported to the police. Collect every valuable information related to the
scam or theft and report it to the police so that they can immediately respond
with all the evidence or proof and arrest the scammer.
Inform the
cryptocurrency exchange: Once you discover that your cryptocurrency has been
stolen through hacking of your account, you should take action as soon as possible.
However, if your delay the tracing process, the hackers can get enough time to
transfer the coins to a cold wallet and thereafter send them to other exchanges
to hide their trail. This can make the recovery possible a next to impossible
mission.
Contact
your bank: If your
transaction history shows some bank-related costs such as transaction fees,
then you should immediately contact your bank. If you report the scammer to
your bank, then they will take immediate action by starting the process of securing
the defrauded account. This helps in preventing the scammer from causing more
damage to your finances.
Follow the
money: Blockchain
has a feature where transactions show the money trail through which you can
easily track the hacker’s wallet address. You can check the wallet address and
see where all the assets are transferred to or monitor its transactions. In
case, the scammer transfers the coins from the wallet to a cryptocurrency
exchange, the report immediately to the crypto exchange. When cryptocurrencies
are transferred from a wallet to an exchange, they are usually changed into
fiat currency.
Hire a
recovery expert: If
you feel helpless and unable to recover your cryptocurrency on your own. You
can seek help from an expert. You can hire a cryptocurrency recovery expert who
will investigate and help you recover your funds. However, these experts charge
a hefty amount and often provide only public information that might not help in
recovering your assets.
Recovering your losses with Shield Forensics Our staff consists of industry experts that understand how to obtain your money back in the quickest amount of time possible. Our goal is to fight for your rights and get your money back from internet trading frauds as quickly as possible. We employ highly targeted
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