Cryptocurrency and binary options scam has been growing massively in recent years to capture the instrument’s vast demands. Individual investors are the significant segment to lose money to those cryptocurrency and binary options scams. The main form of these scams includes fake investment sites and fraudulent brokerage sites. Even though the government urges traders and investors to use regulated brokers, crypto exchanges, and trading platforms, many of them still fall these scams.
Recovering the money you’ve lost to cryptocurrency and binary options trading scams could be challenging. However, you can consider limited options to recover your lost money because the process is not reversible, especially if you’re using unregulated platforms. In addition, uncertainties trail the recovery process. The alternative way is to hire a hacker or professional recovery expert with a strong background in cryptocurrency and binary options scams.
Possible Recovery Processes
There are some solutions for the recovery process that may work in your case. While reversing the process isn’t our focus, we can optimize possible procedures and loopholes that we can potentially use to recover the cryptocurrency you’ve lost.
Contact The Crypto Exchange or Binary Options Trading Platform
As a crypto exchange or trading platform has scammed you, you should first contact them before reporting them. You must make everything clear that you’ve lost your money fraudulently on their platforms or due to their mechanism. Ask them for recovery solutions or to return your money and wait for their response. Threaten to report them to the financial authorities that regulate or watch them.
Crypto exchanges or trading platforms with good business exposure in your country, even though they’re not regulated yet, need to maintain their reputation. So if they pursue a license or regulation, they’d seriously consider your complaint. So even though there’s no guarantee that you’d get back your lost money with this method, you’re already on the right track. It’s also proof of whether or not the platforms accept your request that you can use for the next process.
File A Report to The Authority
As there’s a good response from the scamming crypto exchange, you can proceed with filing a report to the financial authorities in your country. If it’s a regulated form or platform, the authorities can step in after comprehending your case and help you to recover money from trading scams. Regulated crypto exchanges or trading platforms can be warned or even suspended for committing fraudulent activities. Even if the brokers aren’t regulated, the authorities would include them into their watch list and warn other investors or traders not to deal with them.
Provide the authorities with comprehensive information about your case so they can review it. Keep your communications with them for any updates on your case.
Gather Online Supports
Crypto exchanges and trading platforms run their business on a good reputation and good exposure on the internet. If they deny your request and the authorities can’t help you, you’re running out of options right then. Don’t give up. You can gather online support by sharing your story on social media platforms, forums, and relevant community sites. This action is a little bit offensive, but you’d gain some benefits from it.
First, your story would reach more people and alert them to beware of those particular crypto exchanges and trading platforms. Second, other victims may notice your story and inform you of the possibility of money recovery or ask you to join the power to sue the company. Third, the viral story may create enormous social and business pressure on the brokerage company. They may contact you soon after the story went viral and would negotiate compensation for your loss. If the company still looks persistent, then you can proceed with the next steps.
Notify Bitcoin/Crypto Wallet You’re Using
Another pressure can also come from the B2B relationship that the scammer holds. At this point, you can report the crypto exchanges or trading platforms to the crypto wallet providers. The providers may include them into their watch list or even ban transactions from and to those platforms.
The second scenario is possible once the wallet providers have similar reports on those platforms. At the very least, if it results in deep concern, the providers may red-flag the brokers and suggest their users not to use those fraudulent firms.
Hiring Cryptocurrency and Binary Options Trading Recovery Experts
After you’ve done everything you can to recover your money but yet have positive results, this could be the point where you need to consider hiring a recovery expert. Their forensic ability can help you investigate and track the transactions on the platforms.
They would then plan and execute technical strategies to recover your lost funds from the crypto exchange or binary options trading platforms. Unlike solutions mentioned above, the recovery experts use technical approaches as much as possible to recover your fund.
A recovery expert could be your best bet due to the technical complexity of crypto-related services. The use of blockchain and off-shore operation makes the authority can’t step in and make the case go beyond the domestic legal coverage. However, with technical skills and experiences, a recovery expert can recover your lost money after understanding your case.
Where To Hire Money Recovery Experts
Recovery experts offer their services online in their business sites, marketplace, forums, or social media. It would be great if you have a referral of the recovery experts you can hire. If you don’t have one, you need to research the recovery expert’s background to ensure their capability, reliability, and reputation.
Either way, We can guarantee money recovery from cryptocurrency and binary options scams. However, if you’re losing a significant amount of money to these scammers, then you need to fight for it. Do the steps mentioned above to optimise your chance of getting your money back.