Online frauds using cryptocurrencies like Bitcoin, Litecoin, and Ethereum are becoming more prevalent as their value and popularity grow. If you’re trying to report a bitcoin scam, you’re not the only one. Many people, including intelligent business owners, have fallen victim to bitcoin fraud.
In only 6 months, 7,000 customers reported losing more than $80 million through cryptocurrency-related frauds, with the increase in consumer reporting losing $1,900. When matched to the exact time last year, these numbers show a 12x spike in complaints and a roughly 1,000% jump in reported damages.
Scammers are coming up with inventive ways to trick consumers into making false cryptocurrency investments. To get you to divulge information, they will utilize social engineering tricks including extortion messages, phishing, love scams, and freebies. Scammers can access your electronic wallet or any other sensitive information with the details they get, including security tokens and the ability to move money to a hacked digital wallet.
The best way to increase your chances of recovering your losses from a bitcoin fraud is to notify the fraud if you have already suffered losses. You may file a complaint with the US Securities and Exchange Commission (SEC-).
You must be careful to complete the form since any blanks might cause your inquiry to be delayed. The SEC may become able to look into your dispute more quickly if you offer more details. Select “submit form” when you’ve finished filling out the application, and you’re finished.
How Can You Avoid Bitcoin Scams?
Fraudsters are always coming up with new cryptocurrency-based schemes to take your money. Below are a few things to be aware of in order to prevent a bitcoin scam.
- Cryptocurrency payments are only requested by con artists. No trustworthy company would ask you to transfer cryptocurrencies in advance, neither to make a purchase nor to safeguard your funds. That is always fraudulent.
- Profits or large returns are only guaranteed by con artists. Don’t believe those who assure you that you may profit from the cryptocurrency markets rapidly and effortlessly.
- Never combine investment advice with online romance. It’s a fraud if somebody you find on a hookup website or app requests you to transfer them to cryptocurrency or wants to teach you ways to engage in cryptocurrencies.
Recognize Cryptocurrency-Related Frauds.
Scammers are still utilizing certain tried-and-true fraud techniques, but now they want to be paid in cryptocurrencies. Among the most common methods con artists get you to acquire bitcoin and deliver it to them is through investment scams. However, fraudsters sometimes use other strategies, such as posing as companies, authorities, or a romantic interest.
If you spot or face any bitcoin scam and have lost your money, you can file a compliant easliy with Reportscammedbitcoin.com. Fill up the form with some details to report a bitcoin scam page. Our specialists will contact you regarding the scam and will advice you on further steps.
A noteworthy increase in cryptocurrency scams aimed at the general public can be seen with the growth of bitcoin doubler frauds that are marketed through well-known social media platforms. These sufferers can get the details they want from blockchain research and cryptocurrency inspection platforms like “Report Scammed Bitcoin” to perhaps get their money back.