This is an interview on stolen crypto recovery we had with the Coin Dispute Network.
HOW DOES THE COIN DISPUTE NETWORK TRACK DOWN STOLEN CRYPTO?
The Coin Dispute Network works to recover your stolen crypto with four easy steps;
First, we analyze the fraud and try to figure out the location of the fund. Our USA expert team analyzes the blockchain to trace all your recent transactions. This is to verify the transaction and locate your stolen funds on the blockchain before they are withdrawn.
The next step is to track down the crypto scammers, identify the parties involved and create a formal investigative report. This is to dispute the validity of the lost or stolen funds.
After that, we use our network of crypto contacts and stakeholders deep within the blockchain community to dispute and recover your transactions.
Lastly, we monitor and track your disputed funds 24/7. We also send alerts to stop-recovery attempts at the various exit points that scammers may use to withdraw your money.
HOW DOES THE COIN DISPUTE NETWORK TRACK DOWN CRYPTO SCAMMERS?
The Coin Dispute Network makes use of its deep connections within the crypto trading community to dispute your stolen funds. Afterward, they monitor all exit points to ensure that the scammers do not check out with the money and so that they can apprehend them before they do.
HOW LONG DOES IT TAKE THE COIN DISPUTE NETWORK TO RECOVER STOLEN CRYPTO?
The time it takes to recover lost, or stolen funds depends on many factors. But it could take weeks to months to do so.
WHAT ARE SOME OF THE MOST COMMON CRYPTO SCAMS?
The first is the pump and dump scheme. This involves inflating cryptocurrency prices artificially through false campaigns. This will cause unsuspecting investors to buy this cryptocurrency quickly. The scammers will then sell their portions when the cryptocurrency is highly-priced. This will cause it to drop drastically, thus causing investors to lose money and the scammers to make it.
In addition, some scammers create fake cryptocurrency trading platforms. The difference between the real and the fake platforms is usually hard for beginner investors to notice.
Another common crypto scam is a Ponzi scheme. This is a scam that promises investors high returns with little investment risk. They have no algorithm but use investments from new investors to pay the older ones.
HOW CAN YOU AVOID BEING A VICTIM OF CRYPTO SCAMS?
Some ways to avoid falling victim to crypto scams include; avoiding sending cryptocurrency to unknown addresses, sending personal information for giveaways or any form of verification, and being wary of websites promising unrealistic returns. Fake websites’ addresses are slightly different from the real ones, so you can check them out for spelling errors.
You can also use two-factor authentication to secure your account. You should research before purchasing new tokens in ICOs or unknown cryptocurrencies.