How The Global Payback Leverages Technology to Catch Crypto Scammers

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Crypto is a type of decentralized digital coin or cash that is secured by computer networks. When compared to conventional currencies, like the US dollar, which are supported by governments and central banks, cryptocurrencies are different. 

Cryptocurrencies are essentially private digital money. Investors in cryptocurrencies see them as a means of payment or exchange and a store of value similar to earlier forms of money but outside of a centralized authority’s regulations. Even without a bank or other middleman, entities connected to the internet anywhere in the world can send money in only a few minutes, thanks to bitcoin and other cryptocurrencies.

According to Chainalysis, criminals stole $14 billion in bitcoin in 2021, increasing crime by 79 percent over the previous year. The majority of the total was easily made up of scams involving cryptocurrencies, with stolen money—largely from bitcoin businesses—coming in second. 

The year has been fantastic for digital assets. Thanks to rising demand and widespread acceptance in November, the market for cryptocurrencies briefly hit $3 trillion, with popular coins like bitcoin and ether reaching record highs. 

Cryptocurrency Scams Are Increasing As The Demand for Crypto Grows! 

Cryptocurrency Scam

Scammers, though, saw a chance in the commotion. Big crypto scams, hacks, and fraud totaled $681 million between January and July. 

Over $10 billion was lost to theft and fraud via decentralized finance, or DeFi projects this year, which were linked to several of the most notable incidents. The experts encourage investors to properly understand the risks connected with cryptocurrencies, notably DeFi, before investing, even if there isn’t any such thing as a sure bet of any kind. There are a few common scams and risks to watch out for when attempting to secure your cash. 

Cryptocurrency transactions are not legally protected. Your credit card provider, for instance, has a process in place to help you get your money back if you need to dispute a purchase. Such protections are frequently absent from cryptocurrencies.

If you’re a victim of a cryptocurrency scam please get in touch with us to that we can help you get your money back!

Magnitudes of Dangerous Scams Surround Crypto Which The Global Payback is Here To Shield You From…

Scams are the main problem in the cryptocurrency market right now. People have lost a lot of money through reported crypto gaming, which is on the rise.

You must be knowledgeable about the types of scams that are prevalent if you wish to protect yourself from them. 

Scams Using Crypto-Social Engineering 

These frauds are increasing and don’t seem to be stopping anytime soon. Scammers will manipulate your emotions in order to get you to divulge sensitive information about your accounts through social engineering schemes. 

Social Engineering

These scams take place when the con artist poses as someone they are not. For instance, they might pose as a well-known company, a representative of a reliable government institution, tech assistance, and more. Not to mention, any friend or member of your community is capable of perpetrating these frauds. Scammers are experts at getting you to believe them and at luring you into their traps. 

They take a slant or force you to earn their trust. Once that is done, they will trick you into providing vital information about your account, granting them access to it or, occasionally, forcing you to send money to their virtual wallet. Never offer any information in the flow if you ever feel like someone is asking you for a little bit too much information on your cryptocurrency account. You will ultimately lose everything because this is nothing more than a fraud. 

Scams on Fake Websites

Scams involving fake websites are also quite common. In order to deceive their victims, scammers will often fabricate bogus cryptocurrency websites or new versions of legitimate cryptocurrency wallets. In order to avoid any suspicion, the names of these websites are slightly different from the names of the original ones. 

These websites closely resemble real ones, making it difficult for users to distinguish between the two. One of the main causes of how difficult it is to distinguish between the two is this. 

According to data from Action Fraud, the monitoring and reporting center for fraud and cybercrime, a staggering £146,222,332 has been lost to virtual currency fraud since the start of this year. This is about a third (30%) more than was lost in the entire year of 2020. Since the start of the year, Action Fraud has received 7,118 allegations of bitcoin fraud, with an average loss of slightly more than £20,000 per victim. Over half (52%) of victims were between the ages of 18 and 45, while 18 to 25-year-olds made up the largest percentage of reports (11%).

The Steps GlobalPayback Takes To Fight Cryptocurrency Scammers 

Fight Cryptocurrency Scammer

It is disappointing to lose money to an unethical group or person who makes a claim to provide goods or services you may require. 

Unfortunately, a lot of individuals have been duped by similar agreements throughout the years. The fact that money lost to these scams has still not been retrieved is the worst part. Chargebacks are situations where the payer of a transaction, particularly one involving a credit card, receives money back. The majority of online frauds demand payment with a credit or debit card. It is a system that makes sure customers may get their money back once a fraudulent transaction has been made. 

When requesting a refund, it’s important to keep in mind that depending on the method of payment you used for the transaction; your request may be granted or denied. It’s because attempting to get a refund can be challenging, depending on the manner of the transaction. Therefore, we would examine these other payment methods for transactions and request a chargeback if we were defrauded through them. Credit card companies are very interested in chargebacks because they occur frequently. 

These chargebacks are legitimate in some situations but not in others. Knowing how to respond to a chargeback in each situation is crucial for both the bank and the merchant. When they are presented with a chargeback request, some merchants find it challenging to refuse. They believe the consumer will be pleased with the result and see it as an opportunity for them to get their money back. The fact is that customers want their orders filled and their purchases to be reasonably priced. 

Businesses that refund a customer’s money instead of filling their order risk losing that customer’s business permanently because they won’t receive any more orders from them in the future. Any business that accepts credit cards as a form of payment must deal with the aggravating reality of chargebacks. Chargebacks may be initiated for a variety of reasons, including the customer’s failure to recognize the charge on their account, dissatisfaction with their purchase, or simple ignorance of the procedure. 

Chargebacks, unfortunately, are a problem that is becoming worse before it gets better in the business sector. The good news is that chargebacks will only get worse; therefore, retailers must take proactive measures to handle these returns before they lose ground in this area. Chargebacks have emerged as one of retail’s most annoying issues. 

Cryptocurrency

Chargeback costs are costly for a business and may even cause it to go bankrupt. The majority of chargebacks, in actuality, are the result of customer errors rather than supplier errors. The next post will examine a few of these errors and how businesses can prevent them from lowering the chance of chargebacks. Unfortunately, the likelihood that the bank will decline your request for a refund is higher.

Why? Banks will blame you for the situation. You need the recovery specialists at The Global Payback to help you navigate the procedure and get your money back because of this. You stand a better chance of success working with us. Phone us now!

What To Do When You Have Been Scammed?

Let’s say you gave your personal or financial information as a result of being a victim of fraud. 

In that case, we advise that you update every internet password that is unrelated to the fraud. Additionally, you should use different codes for each account, and if your phone or laptop has been compromised, seek help from a qualified professional. 

Please spend some time learning the techniques and methods that con artists use to avoid falling for their tricks again. Before making any future investment, always examine everything twice.

Lost money to online fraud? We will recover your funds !

You are just 2 steps away from a free case review !
Step 1 Step 2

    I can provide the documentation

    We only process cases of more than $5000

    What Happens Next…

    Most people’s first reaction after being conned is to complain to their bank or other financial organization. Global payback is here to warn you that if you don’t follow the right steps, visiting the bank might not yield the desired outcomes. 

    The reason is that there is a high likelihood that the bank would reject your request for a refund and likely place the responsibility on you (over 90% possibility). When this occurs, it is pretty much difficult for The Global Payback to engage in any conversation or follow the proper procedures to recover your money. If you want your money back in such situations, you need appropriate direction and support because a poor plan will negatively impact your entire case. 

    The Global Payback must be called as soon as possible to help you win your case if you have already contacted the bank and have been rejected.

    24/7 Assistance Along The Way!

    We work to give victims of fraud hope, and we have the statistics to back it up. With the aid of our well-known recovery professionals, we have successfully recovered sizable quantities of money for clients. We also wish to assist you. 

    This is your time to shine and acquire the greatest trades possible without encountering any scams if you are one of the victims of a forex scam or if you plan to invest soon but are unsure of the results of your transactions. 

    • Examine your demand 

    Examine Demand

    Assume that you are a victim of fraud. Our investigation specialists will start looking into and working on your case as soon as you figure it out and let us know via the online contact form on our website. We are aware of how time-sensitive internet frauds are; therefore, the sooner we begin investigating them, the quicker your money will be recovered. 

    • Evidence gathering through tools, technology & resources

    Just like in any other criminal case, evidence is essential to proving your case; thus, we will immediately start the initial stages of evidence gathering and broker assessment. Members of our staff will trace your movements back to the con artist in order to gather any pertinent evidence. Included are calls, messages, emails, screenshots, invoices, and the entire digital footprint. You’ll be collaborating closely with digital analysts at this point to make sure that all pertinent evidence is recovered and your scam file is as compelling as possible.

    • Creating your argument

    Many people believe that everything will be alright if the evidence is found. But that is not the case. From here, team members will start the paperwork for your case. The information is arranged effectively, efficiently, and practically to prevent rejection by the relevant financial institutions. This calls for a thorough understanding of legal documents, which is exactly why we’re here!

    • Get your money back

    Get Your Money Back

    This completes the healing process. Our recovery specialists create a special plan for handling the matter at this point; they think about approaching the fraudster directly or enlisting the aid of third parties. First, we attempt to speak with the con artist directly, giving them the information and warning them of the repercussions. They are typically compelled to pay back the money.

    Key Takeaways! 

    Act quickly by getting in touch with us since, when it comes to scams like this, every second matters. 

    Fortunately for you, we have experts in wealth recovery on our staff who are knowledgeable about the fastest ways to reclaim your funds. As chargeback specialists, we will recover all of the money that has been taken from you. Therefore, get in touch with Global Payback and let us know the specifics of your dealings and transactions with the con artists. 

    We’ll assist you in getting your finances and your life back.

    The Global Payback provide information about different kinds of scams and how to avoid them.

    Lost money to online fraud? We will recover your funds !

    You are just 2 steps away from a free case review !
    Step 1 Step 2

      I can provide the documentation

      We only process cases of more than $5000

      We do understand that you’ve already been scammed online and that you’re naturally afraid of paying online. This is why we do offer a free case review, and won’t charge anything if your case isn’t qualified. Please do your part of the deal, and submit your case only if you truly intend to proceed with the recovery process.


      Get a free consultation!