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How to recover your stolen or lost crypto

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How to recover your stolen or lost crypto. Cryptocurrency is generally deemed as pretty secure, but sometimes things do happen. Even top traders have had crypto assets lost or stolen and, until quite recently, it seemed like there was very little one could actually do about it. Thankfully, there are ways to get your cryptocurrency back. We’ll be looking at the top ways to recover your lost or stolen cryptocurrencies, and how to avoid going through something so traumatic in the first place!

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Act as quickly as possible

Benjamin Sauter, a partner at Kobre & Kim law and an expert in crypto theft cases, told Decrypt, “The quicker you can act, the better,”. The longer you wait to start tracing your crypto, the more time you give thieves to transfer your assets to cold storage, send them to sketchy exchanges, or to tumblers to mix them up.

“The more sophisticated you are, and the less sophisticated the thieves are at laundering the assets, the better chance you have,” Sauter continued.

If the funds are in an exchange, you’ll need to contact them and ask them to freeze your assets. This will buy you some time. Unfortunately, not all exchanges will comply so you may need to get a lawyer involved to throw their weight around and convince a court to order an issue for them to be frozen.

Legality

For the legal system to actually work in your favor, you’ll likely need to know who stole your cryptocurrency. While you may be able to freeze funds against a John Doe, it’ll be challenging. According to Marc Jones, a partner at Stewarts Law in the United Kingdom, “In general, to enforce an order requiring fraudsters to pay damages or handover stolen property, ultimately you’ll need to know who they are.”

Thankfully, one of the many benefits of cryptocurrency is that you can see where the coins have gone. If they go through an exchange, you’ll most likely be able to find out who the wallet holder is thanks to the KYC process. From there, you can get a court order to reveal the thief’s identity and recover your stolen cryptocurrencies.

Recovering lost cryptocurrency from a cold wallet
8 Best Cryptocurrency Wallets For Mac of 2020

The phenomenon of lost cryptocurrency isn’t a unique experience. In fact, the Wall Street Journal released a report that stated that lost cryptocurrency was actually extremely common. So much so, that up to 20% of all Bitcoins have been lost and are unrecoverable. Luckily, there are measures you can take to prevent this from happening.

Cold wallets are offline wallets that are designed for storing cryptocurrencies. With cold storage, the digital wallet is stored on a platform without internet connectivity. This protects the wallet from cyber hacks, unauthorized access, and other vulnerabilities that could be exploited if they were connected to the internet.

There are a number of different ways that you can recover from cold wallets:
– Encrypted Devices: Encrypted phones and laptops work like cold wallets, so that you can safely store and access your private key information. Like cold wallets, you can retrieve lost information through professional help.
– Paper Wallets: If you have a paper wallet, consider storing it in a vault or safety deposit box. That way, you’ll literally have a physical backup of your key information. This is a pretty old fashioned way of doing things, so maybe consider other options first.
– Pen Drives/Hard Drives: While this is a very secure way to store your coins, retrieving your data from them should they be damaged or corrupted is a timely and expensive process. You’ll definitely need a professional to do this.

How to recover your stolen or lost crypto

Claimpayback
Claimpayback is teaming up with global investigators firm TheHackerspro, to launch a joint initiative together with combines the latest blockchain forensic techniques with the world of legal investigation and asset recovery. Pawel Kuskowski, CEO of Coinfirm told Coindesk:

“So far, there is no one place where victims can go and get help. It’s almost like they are pleading to get someone interested in their case. In the end, they have to work it out themselves; see about getting a lawyer, perhaps in some other jurisdictions but i assure you theres nothing a lawyer can do becuase the process involves a lot of triangulations from the outsourced wallets

claimpayback aims to help in the recovery of stolen cryptocurrencies. You can open a case with their specialist about your stolen coins, and claimpayback will do an assessment. the beautiful thing about the recovery process is that it will be entirely done by you.

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Now that we’ve looked at the top ways to recover your lost or stolen cryptocurrencies, you’re probably asking yourself how you can protect yourself against those scenarios. First off, consider dividing your assets into “cold” and “hot” wallets. The cold wallet should store the bulk of your funds, while you use the hot wallet for everyday transactions. Always make sure to keep your private keys secure, and consider using a multi-signature wallet. Protecting yourself from cryptocurrency theft and lost cryptocurrency is a vital step to ensuring the success of your portfolio, so make sure to take all of the necessary steps to ensure your safety.

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Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

8 Comments

  • Edrogan kolasinac

    August 20, 2021 - 6:33 am

    I have been scammed by Richmond super in Australia. They scammed me of 50k Aud. I have all the wallet adress I sent money to. Please help me

    • Rebecca Steve

      August 22, 2021 - 10:39 pm

      Sorry for your loss Edrogan, I was also scammed awhile ago of my Crypto coins, Let me share my Crypto experience maybe it can be of help. Although I have been hearing about dogecoin since last year but I didn’t pay much attention because I was satisfied trading only my bitcoin until one of my friends showed me how much he already made investing in dogecoin. I was convinced and I decided to do more research and finally I invested several amount of money in a website I was referred to by my Friend. I signed up and I was sent a wallet address to make the payment. I purchased 3500000 dogecoin and I transferred 3000000 to their wallet address. Few days later their website was down and we discovered we have been scammed. Every effort to get back our dogecoin failed until few weeks ago when I was referred to [email protected] and I was able to get back all my dogecoin that was Stolen. They are reliable and trustworthy.

      You can also search Bitcoin_Recovery on telegram , they have one of the best hackers. Personally I have not used Their services but my sister got her bitcoin back after it was stolen from her trust wallet.

    • Rebecca Steve

      August 22, 2021 - 10:57 pm

      Sorry for your loss. You can add Vladimir kolarov directly on telegram @h4ckerspro they should be able to help you. My youngest sister was scammed on trust wallet and all her Bitcoin was stolen, she said her colleague at work referred the recovery company and she was able to get back her bitcoin. Best of luck.

  • Derek Freeman

    August 22, 2021 - 10:32 pm

    Please read carefully to avoid making such mistakes. I stored 4.72250btc in my Trezor. io wallet around April 2020, I constantly check my account and oftentimes I buy more BTC to store in my wallet.

    Then first week of November 2020 I logged into my Trezor account after undergoing different steps of login via their website a messaged popped up that my wallet as been damaged and I need a recovery seed to restore the damaged wallet. It asked if It was a 12, 18 or 24 seed phrase. I entered 18, filled them out and I pressed ok and my wallet opened up.

    I saw all my Bitcoins and I did some usually activity in my wallet and I refreshed the page about 15 minutes later and all my 4.72250 as disappeared and my account was $0btc, then I checked my activity and a transaction was already processed for all my Bitcoins I was left confused, devastated and heartbroken. I contacted fundsrecovery24 and 2 other Recovery companies I saw online but I was scammed of few thousands of dollars trying to get back my stolen bitcoin from them.
    Out of pity and advice from friends I decided to let go and forget about ever recovering my bitcoin . Fast forward to last week Tuesday I saw a tweet from twitter pretending to be Elon Musk. As I’m following Elon, when i saw the elon’s fake account sharing a bitcoin release from Tesla, which I stupidly believed and then sent 0.0552 to a particular address hoping to get back 0.5520 but few hours later I realized it was a scam.
    It was like a dream, I couldn’t tell my wife because she will be mad at me, so I decided to share it with my brother and to my surprise he also claimed he was scammed in a similar way on Facebook by a scammer pretending to be someone else and that he was only luck to get back his bitcoin through the help of a reliable Recovery company TheHackerspro on TrustPilot and I messaged their support on their platform [email protected] that I have tried a few of them and I got scammed that there’s nothing like bitcoin Recovery, he showed me some chats and proof of him getting back his funds even at that I wasn’t still convinced then he promised he will refund me if I was scammed by them and was so certain they are legit. I got their contact and sent them a mail They responded and I was asked to send the wallet address the bitcoin was sent into which I did and I also told them about my 4.7225 lost to Trezor which they claimed it might still be Recoverable.

    They did some research and told me my coins can be recovered both the 4.7225 and the 0.0552. long story short after few mails and conviction I decided to risk their services knowing well that my brother had promised a refund if it goes sideways. But miraculously after sending some details asked by them and having waited for few hours I was told to check the wallet address that I provided for recovery and surprisingly all my bitcoin have appeared both the one lost to Trezor and the recent one lost to Twitter scam.

    I never believed in bitcoin recovery but now I am a living testimony. Please try to be careful when trying to make quick cash online and protect your wallet with all you have got. Be safe.

  • hilda

    September 19, 2021 - 11:25 pm

    I assumed i had lost my savings of 23 years after being convinced to invest in crypto currency and it turned out to be a scheme, i had searched the web tirelessly, spoken to a few professionals and they all said my savings were gone… I stumbled on a post ( totally unrelated to recovering my funds, i think this was about catching a cheating partner), i reached out to the infiltrator and i must tell you this has been the best decision i have taken in a very long while. h4ckerspro helped trail my coins, retrieve and refund them, it seemed so surreal but i am definitely not investing in crypto currencies anymore or at least until i do thorough background checks… If you sense you have been ripped off, i suggest you act promptly open a case with them

  • Tobby marc

    September 30, 2021 - 2:34 am

    I just lost 300k to Richmond super in Australia. Please I just opened a case with your support. I need help

  • Alex Ryrie

    October 8, 2021 - 8:34 am

    BEWARE! I was phoned multiple times in a row as soon as I signed up to try a trading platform. They didn’t leave me alone. I openly mentioned that I’m new to trading and that I wanted some time to research and understand what I was getting into. I was pressured into investing an initial “small” amount of $10,000 AU. To me this is an investment i want to think more about. After a few days i started seeing profits.. Then they kept on calling for more deposit to make even more pprofit, i decided to add $50,000.. About 2 weeks ago i tried to withdraw, but all attempt was declined.. By the end of the phonecall I was yelled at even though I said I feel uncomfortable and feel pressured and wanted more time. Its put me off, and told me to hang up on him. I started searching for help, because $50,000 is a lot for someone like me, I found claimpayback in a review under topbrokers website, I opened a case with claimpayback.com] and i got my initial deposit back 2 days ago… I’m glad but still annoyed at Richmond, If you been a victim quick send detailed mail to [[email protected]]. I don’t want anyone to lose to this shady company, they are Very manipulative.

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    October 23, 2021 - 8:34 pm

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