The volatile nature of today's crypto market and the potential impact it will have on the future of business trigger a lot of similar emotions. As individual investors, speculators, and other institutional investors shift their focus to the lucrative cryptocurrency markets, scammers and cheats turn their attention to them. From October 2020 to March 31, 2021, approximately 7,000 people reported losses totaling more than $80 million in crypto-related frauds. These data represent a 12-fold increase in reports over the same period last year and a roughly 1,000 percent increase in reported losses. Given the exponential surge in reported crypto scammers, it's more vital than ever to be aware of the most frequent types of scams and what you can do to protect yourself from getting duped.

In this article I will take you through all there is to know about scams asssociated with cryptocurrencies. If you were already a victim of a cryptocurrency scam and need help getting your money back - there’ sonly one place for you! The Fundstarce recovery agency - they truely are the best in town when it comes to this. Even when I wanted to get information for this article, they provided me details about all there was to know about crypto scams! 

Scams Involving Cryptocurrencies Generally Fall into Two Categories

Initiatives aimed at gaining access to a target's digital wallet or login credentials. Scammers are attempting to obtain information that will allow them to gain access to a digital wallet or other confidential information such as security codes. This can even include access to real hardware in some circumstances. 

They are directly sending cryptocurrency to a scammer as a result of impersonation, false investment or business possibilities, or other malevolent tactics.

The Time I Almost Lost $3,000 To A Cryptocurrency Scam 

Getting scammed on crypto exchanges is possible yet scary. I'm talking about experience here. Back when cryptocurrency first started, I invested $3000 and bought bitcoin at a price that now feels like a throwaway price. I let my crypto sit in my account; seeing the exponential growth, I knew that my $3000 would soon be worth $300000. I had no complaints about security issues or scammers trying to scam me all these years.

Lately, as cryptocurrency is on the rise, scammers have been trying to get into accounts of people. Recently I got an email verifying that my Binance transaction had been completed; on the contrary, I had not initiated any transaction. To my surprise, I opened my account, and my account had been drained. I vigorously researched for a fund recovery company as I had just not lost $3000 but a lot more than that. I came across a company named Fundstrace. I contacted the firm after going through several other people's reviews. I hired professionals who knew what they were doing. I provided them with all my information, and they finished their paperwork in about two weeks. 

After the paperwork was completed, they briefed me on how they would track the logins' IP addresses and confront the scammers or involve the law. After the confrontation with the scammers, they confessed to stealing my data and funds. Fundstrace was hence able to recover my funds in approximately two months.