Cryptocurrencies are digital assets people use for investments and purchases online. One of the earliest and most popular cryptocurrencies is Bitcoin. An investor can invest in or trade cryptocurrency person-to-person, without a middleman.
Cryptocurrency fraud falls into two categories: it is stolen directly or a person is tricked into sending it to a scammer. Because cryptocurrency is not widely understood, isn’t backed by the government, and is constantly changing, crypto scams are on the rise. Schemes often take the form of phishing, imposter scams, fake giveaways, blackmail, pump and dump scams, investment scams, fake initial coin offerings, and more.
Cryptocurrency schemes often have similar traits. Scammers may promise free money or guarantee big returns, heavily market or sell (via email or on social media), and may point you to an unsecure or unprofessional looking website.
The best way to avoid falling victim to cryptocurrency scams is to be extremely careful and cautious. If something sounds too good to be true, it likely is. Ask questions, double and triple check website URLs, avoid offers that involve you paying up-front fees in crypto, and never share your private key or information about your cryptocurrency wallet with anyone.
If you believe you have fallen victim to a cryptocurrency scam, you should secure all bank accounts and cards, report the scam to the local police department and the FTC, report the scam to any exchanges or wallet providers you used, file a fraud alert with the major credit bureaus, and get in touch with an investor rights attorney who can review your case.
Cryptocurrency is hard to recover as transactions cannot be reversed. However, if it’s determined that you have a case, a lawyer can aid in your recovery.
Talk to an Experienced Attorney Today
Call and speak to one of our attorneys* for a no-cost consultation to discuss your situation, answer your questions, and help you determine the next steps. This call usually takes about 15 minutes, but we are happy to talk to you as long as you would like!
Quick Review of Your Paperwork
If we think you might have a case, we will need to review a few basic documents. If we determine you have a case, then you will have the option to hire us as your attorneys to pursue it.
Signed Attorney/Client Agreement
If you decide to hire us to pursue your case, we will have you sign an attorney-client agreement so we can begin the process of trying to recover your losses.*
*In the vast majority of cases, our agreement is contingent – meaning you won’t owe us any money unless we recover money for you.