Hackers have hacked into exchanges and drained user funds. Fake crypto projects also ask for money upfront but never deliver. The cryptocurrency market is still new, and participants are careless about their transactions. They usually use cryptocurrencies for speculation purposes, to make a quick profit.
People who want to trade cryptocurrencies need to be aware of these dangers; otherwise, they can lose all their money in minutes. Cryptocurrency trading is one of the most endangered areas in the traditional financial market because people don’t often have a lot of knowledge when they start trading cryptocurrencies, making them a target for scammers.
Cryptocurrency scams are rising, and we sit essentially to understand why. One apparent reason is in their name – they are encrypted money, meaning they can stash their value in a secure, hard-to-reach, and untraceable digital wallet. This sounds ideal for stolen money and a hassle for people trying to track it down.
The Common Type of Crypto Scam & The Victim!
The most common type of cryptocurrency scam is a phishing scam. A hacker sends an email to someone and pretends to want money from organizations. They will ask for personal information and then use it to steal their money or identity. This type of scam has become more popular.
We got a case of the victim of a phishing scam in which she lost almost $2500. She felt nothing was left in her life as these scammers bankrupted her. She is 35 years old and a successful businesswoman named Saleh Mon, but somehow she got trapped in this scam.
As she does business, she knows that loss is a part of the business, but this time, a loss was huge, which could totally break her and world affect her business if the amount would not be recovered soon. She was so desperate when this scam happened to her, but she strongly decided to take the help of the regulated company.
She directly came to Global Payback without any hesitation because we helped her before to recover some money. So she knew she could only trust the Global payback in times of severe crisis. Our specialist got all the information from her, and as her whole business and household were at risk, we hustled to recover her money.
Money Recovery in 20 days!
Trading, in general, is hazardous. If you get scammed, you must act soon; otherwise, you would have less chance of not receiving your money back in these cases. The sooner you act, the more opportunities we have of tracing your cash and return it to you. These crooks are professional, so you need a hard-working team at your side dedicated to getting justice served.
Saleh Mon acted smart when she came to our expert team when this scam happened to her. For this reason, we were able to track and get her money back in 20 days.
Some precautions can be taken to avoid being duped by these schemes. Here is how you can avoid falling victim to a Cryptocurrency scam –
- Check out their website – It should provide information about who they are and what they do.
- Check out their social media channels – They should be engaging with their customers and answering all questions that they might have.
When investing in cryptocurrency, it is vital to research the coin and determine if it is worth the investment. One should be aware of scams as well. The first step is to explore whether people are dumping a coin or running away from it after investing. These are red flags.