Cryptocurrency Recovery Scams on the Rise, FBI Warns
The FBI is warning of an increase in cryptocurrency recovery scams. These scams typically involve scammers contacting victims who have lost money in a cryptocurrency investment scam and offering to help them recover their funds. The scammers will often claim to have access to a special database or software that can track down the stolen funds.
However, the scammers are just trying to steal more money from the victims. Once they have the victim’s personal information, they will use it to access their bank accounts or cryptocurrency wallets.
“Representatives of fraudulent businesses claiming to provide cryptocurrency tracing and promising an ability to recover lost funds may contact victims directly on social media or messaging platforms,” reads the FBI notice.
“Victims may also encounter advertisements for fraudulent cryptocurrency recovery services in the comment sections of online news articles and videos about cryptocurrency; among online search results for cryptocurrency; or on social media.”
The FBI is urging victims of cryptocurrency recovery scams to not fall for these schemes. If you have lost money in a cryptocurrency investment scam, do not contact anyone who claims to be able to help you recover your funds. The only way to recover your money is to file a complaint with the authorities.