To protect agents Crypto Fraud Recovery;
1. Pig Butchering Scam: Here, scammers pose as friendly contacts, often through social media platforms or dating apps. They slowly build trust and start luring with “investment tips” that promise incredible profits. They usually show initial “successes” on fake platforms to get the victim to deposit large amounts. Once the trust has been exploited to the maximum and enough money has been deposited, the scammers disappear without a trace. They often try to get even more money by using tricks: transactions get stuck, high fees are demanded, trading fees are due or taxes. Of course, after paying this, you still get nothing; it’s all about getting the last bit of money out of them.
2. Wallet hacking SMS and seed phishing: In this scam, victims receive fake SMS messages or emails claiming that their wallet has been compromised. The message asks them to enter the *seed phrase* (the wallet’s security keywords) to “restore” access. Once the scammers receive the seed phrase, they have complete control over the wallet and can withdraw all assets. **Note**: Legitimate services never ask for your seed phrase. The same is also often said on exchanges: your account has been hacked and they should create a private wallet and transfer everything to it. In addition, the scammer wants the *seed phrase* of the new private wallet and immediately empties it.
3. Fake recovery services after a scam: After a scam, some victims turn to, or are even contacted by, alleged “recovery services” (those who get scammed once seem to be easy victims for the next scam). They promise high chances of success in recovering the stolen crypto. These services often require upfront payments for “processing fees” or similar, but do not deliver any results and usually disappear after receiving payment.
4. Fake AI videos featuring famous people: Scammers are increasingly using AI-generated videos featuring famous people who supposedly recommend investing in certain platforms. These videos look deceptively real and suggest that famous people endorse the platform.
5. “Coin doubling” scam: This is where scammers promise that every cryptocurrency deposit sent to a specific address will be returned doubled. They often claim that this is a “special promotion”. In fact, it is simple theft: once the coins are sent, they are kept and no refund is made. Reputable providers never offer such doubling promotions.
6. Fake recovery tools and wallet connection: A newer scam uses fake websites that claim to help with “recovery” after a theft. The scammers ask victims to connect their wallets to the website and confirm certain access requests. This gives the scammers access to their wallets and allows them to withdraw all assets. Note: Avoid connecting your wallet to unknown websites.
7. Seed entry on fake websites: This scam aims to trick the victim into entering their seed phrase on a fake website that looks deceptively similar to the real wallet website. Once the scammers get the seed phrase, they can control and empty the victim’s wallet. Note: Legitimate wallets never ask for the seed phrase on websites.
8. Payout in worthless tokens: In some cases, victims are promised a payout from their investments, but instead they receive “worthless” tokens that have no real market value. These tokens cannot be traded on real crypto exchanges.
9. Unsellable Tokens: This scam offers tokens that at first glance show real trading activity. It looks like other users can easily buy and sell the token, but in fact the token’s smart contract has been programmed in such a way that only the scammers can sell the token.
10. Multisig Scam: Comments on social media where someone shares their *seed phrase* and asks for help with the transfer. This is not a normal wallet, but a multisig. The people who see something like this like to set up the wallet and want to take the tokens themselves; but this requires fees in network tokens. Then they send ETH, for example, for the gas fees; but they cannot send anything, but the scammer can, because he has the necessary multisignatures.
Important note about “recovery of lost funds”: If you have fallen victim to such a scam, it is extremely unlikely that the stolen funds can be recovered. If someone claims to be able to recover stolen coins from you, it is 99.9% likely that this is another scam. These “recovery services” often ask for upfront payments and ultimately deliver nothing.
Recommendations:
– Report the incident to the police: Report the incident as soon as possible, even if the prospect of a refund is slim.
– Protect your seed phrase: Never share it and only store it in a safe, physical location.
– Watch out for unrealistic return promises and check smart contracts.
– Be cautious with new or unknown tokens.
– Avoid dubious platforms and offers.
– Check information thoroughly: Do your own research and only trust reputable financial advisors.
If you have already fallen victim to one of these scams, you should report the incident to the relevant authorities. Be careful and protect yourself and your digital assets.
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