If you’ve lost money in a bitcoin scam–don’t give up! Even though the number of digital currency frauds is clearly increasing, these numbers are most likely even higher than the data reported because most crypto scam victims don’t report the incident or seek bitcoin chargebacks.
Some people question whether bitcoin chargebacks are possible. The answer is “Yes.” Although no crypto scam victims should assume that it’s a given that they’ll get their digital currency back, with the right strategy and experts at your side, crypto recovery is a realistic goal.
You may have heard or read that crypto recovery isn’t possible. This is a common myth that has made its rounds in the media.
It’s like saying “There’s no way you are going to win a lawsuit” when it’s clear that with the right legal representation and depending on the case, you can have a ruling in your favor.
One of the problems is with the term “bitcoin chargeback.” According to the strict definition of these words, a bitcoin chargeback isn’t possible. That’s only if you are using the term “chargeback” in exactly the same way as a credit card chargeback.
It’s true that funds can’t be reversed on the blockchain. Since the blockchain uses ledger technology, once a transaction has been recorded, it remains forever. With a credit card chargeback, funds are reversed. It’s almost as if the initial purchase never happened.
However, with the blockchain, the only way to get your money back is through a separate transaction. Of course, you can simply get a refund, which is a new transaction on the blockchain, but the previous one isn’t reversed.
However, one major question arises from this situation–how can we expect a crypto scam to willingly grant a refund? There’s the rub, and that’s why there are so many bitcoin scams. Many of these fraudsters feel they can hide stolen funds in an anonymous bitcoin wallet and there is no way the victim can get their money back.
However, recent cases are confounding bitcoin scams. Law enforcement, regulators, and courts are taking action against these fraudsters. With advanced in crypto trace technology and increased advocacy for bitcoin scam victims, the chances of bitcoin recovery look brighter than ever.
Now that we know bitcoin recovery is possible and there are many cases in which fraudsters on the blockchain can be forced to return money to victims, how does it work?
The following are the main steps in the bitcoin recovery process:
Our first step begins with our clients. We consult with you and design an approach that best suits your case. During our consultation, we gather essential information that will serve as a solid starting point and will inform our entire investigation.
Once we have gathered information, we will decide how to proceed. Broker Complaint Registry experts use advanced technology that is usually available only to government organizations and law enforcement. We can track down funds on the blockchain by following the path of transactions.
This approach allows us to pinpoint intermediate wallets or “mules” used for money laundering, Using bitcoin forensics, we can add more detail to our crypto trace results and focus on persons of interest and accomplices who may be holding your bitcoin.
Following the investigations, we’ll draft an investigation report that will give you a full picture of what happened, who may be involved, and where the funds are. If you present these investigation reports to enforcement, you are likely to get them involved in the case.
Authorities are more likely to pursue a case if they feel that there are some coherent leads. An investigation report will set your claim apart from the rest.
We will also advise you on the most effective strategy for bitcoin recovery. Our extensive experience in all types of fund recovery and crypto recovery, in particular, will put you in a strong position. We will give you essential tips on how to approach the authorities and how to get the results you want.
Are you ready to get started with the bitcoin chargeback process? Keep these tips in mind.
When you get started with bitcoin recovery, you may feel ready to go out and get them. Of course, it’s terrible to have your money stolen, and you may want to see the people behind the bitcoin scam pay–literally.
However, just as with a law case, it’s not certain that you’ll get the desired result.
A lot of this depends on the complexity of the case, how much time has elapsed, and how skillful the scammers are. However, there’s no question of not going to court if you have a claim. Be optimistic but also be realistic.
Also, keep in mind that the bitcoin recovery process may take longer than expected. However, this doesn’t mean delaying. Act quickly and report a crypto scam as soon as you can.
Money can be laundered fast on the blockchain and the longer scammers have to do this, the more challenging it is to recover funds. Although with the right experts, it’s not too late, you increase your chances of bitcoin recovery success if you act fast.
Have your documents in order when you make a claim. This will help fund recovery experts at Broker Complaint Registry get a full picture of your case and have all of the information they need to get started. Working with bitcoin recovery experts is like having a five-star legal team advocating for you in court. Your chances of success are much higher with Broker Complaint Registry.
If you suspect you are dealing with a crypto scam, request a withdrawal or refund. If you are not given your money back, contact the Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.