/EIN News/ -- New York, Oct. 02, 2021 (GLOBE NEWSWIRE) -- Loss Bitcoins to Fraudulent Activities? Recover Them Sustainably with Cryptoinvestigo

Understanding different types of internet scams related to bitcoins and the ways to prevent them

The finance and investment sector goes hand in hand whenever there is any kind of online personnel related to it. Most people have started to look into different types of technologies that might be able to increase their wealth. This has made the entire platform a ripe place for different types of scammers. The main problem which has been related to internet-based scams is that the scammers often look very authentic. The victims often share their personal experiences on these platforms which makes them even more vulnerable to the cases. Some recovery solutions for crypto investors like CRYPTOINVESTIGO are now coming up in order to help the traders who have turned into the victims of these scamming events.

Loss Faced By Americans In Cryptocurrency Scams

The prices of cryptocurrencies have increased over time but it has also been noted that scams are also increasing in this sphere. According to the data which has been available till now, Americans have lost about $80 million in the deals made on the basis of cryptocurrencies this year alone. The Federal Trade Commission has informed that more than 7000 people have reported losses about their schemes and this is more than 12 times more than the cases which were reported last year. The age group of people who were most affected by these cases included the ones in their 20s and 30s. Investment scams seem to hurt this age group more than any other!

Reasons People Lose Money to Cryptocurrency Scam

The most important thing which the traders have to learn by now is that they cannot think of investing in something which they do not understand well. It has been seen that young traders are interested to invest in the field of cryptocurrency even though they do not have any clear concept about it. The price jumps in the case of these currencies are also quite high. This leads to some high costs incurred on the journey of the cryptocurrency trade. The consumer protection actions are relatively less in blockchain technology and many people fall victim to this.

Cryptocurrencies Related Scams

The smartest way in which the users can avoid any kind of cryptocurrency scam is to make sure that they treat any investment in this sector like any other industry. Just because the term “Bitcoin” is used in the mix, it is not guaranteed that you are going to have a strong chance of magical profit in the field.

It is not through a single way in which cryptocurrency scams can take away your riches. There are different outlets through which the scams are led and it is difficult to track them all if the trader does not have any idea about the field. There are people who set up false exchange platforms and also try to scam the traders with fake coins. These methods are very commonly known as pump and dump in the world of cryptocurrency scams.

Something similar has happened with the app Wirex. Several clients on this platform have shared their tales of horror when they were unable to withdraw their funds easily. The clients were also charged huge amounts of fees when they tried to get their accounts verified on this platform. One of the users had also mentioned that their account was locked and it was no longer possible to withdraw any kind of investment made on the platform. Several other platforms which include Africrypt also had similar complaints from the users. In fact, Africrypt had cheated the investors of $3.6 billion dollars, making it the largest scam in the entire history of the blockchain market.

Avoiding The Common Cryptocurrency Scams

The investors are asked to keep a very careful eye on the types of schemes they are investing in. Research is the key to avoiding any kind of major issue in the schemes. The clients are bound to find something iffy in the scams if they are well researched in the field. The platforms which are more reputable in the field must be accessed in order to make sure that the promises are made on the basis of the schemes that are actually viable.

The investors are asked to keep an eye on the URLs as well. One might be tricked into getting into a site that is known for conning the traders. However, if you are careful about the URL, there is a major chance that you will be able to avoid the issues related to scamming pages. It is also advised for the traders to avoid the areas which use celebrity endorsements. The impersonators of these pages make a huge amount of money by conning people into believing that the real celebrities are endorsing these pages!

Finally, all traders are asked not to share their personal data which has been related to the cryptocurrency-based accounts with anyone. There are numerous hackers who roam about on the internet platform. It is entirely possible for them to hack into your account if you share the personal details of your account with them.

In Case Of Being Scammed

In case that the trader thinks that he or she has been scammed in the market, they have to contact their bank or the cryptocurrency exchange company immediately. The investor is also asked to keep their personal information safe during this point and change the passwords to most of the financial accounts. Cyber investigators can also prove to be a great help in the world of cryptocurrency.

Conclusion: How to Recover Scammed Cryptocurrency

Since bitcoins have entered into the regular vocabulary of the market, it is often advised for the traders to keep a grip over their accounts. The scams are becoming even more regular in the business world as cryptocurrency increases its popularity. It is entirely up to the investor to keep his or her assets safe in the hectic business world. Sometimes reporting to the higher authorities about the ongoing scams can also turn out to be helpful!

Have you lost $75,000 and above to a bitcoin or cryptocurrency scam? Contact CryptoInvestigo!

Email: support@cryptoinvestigo.com

Media Details -

Contact: support@cryptoinvestigo.com

Company Name: CryptoInvestigo

Address: 244 5th Ave #2, New York, NY 10001, United States