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How to recover stolen cryptocurrency

recover stolen crypto from metamask wallet

How to recover stolen cryptocurrency

recover stolen cryptocurrency
recover stolen crypto lost to metamask wallet

recover stolen cryptocurrency: Cryptocurrency is usually, considered to be pretty secure, however, sometimes things do happen. Both regular and top traders have had crypto assets lost or stolen before, until recently it seemed like there were very little one could do about it.

Let discuss the two major forms of wallet in the crypto world, since wallets are essentials for the storage of cryptocurrencies:

  • Cold wallet
  • Hot wallet

Cold Wallet

Cold wallet stores the user’s address and private key ( we will discuss more about private key later) on an offline device. It is also called “offline wallet” and “hardware wallet”. With a cold wallet, the private key is stored on a platform that is not connected to the internet, thereby, protecting the wallet from cyber-attacks, unauthorized access and other forms of vulnerability associated with the internet.

The most basic form of cold wallet is Paper Wallet. A paper wallet is simply a document that has the public and private keys written on it. 

Another form of cold storage is a hardware wallet that uses an offline device or smartcard to generate private keys offline. An example of this is the Ledger USB Wallet, which uses Smartcard to secure a Private Key.

Another form of Cold Storage is an Offline Software Wallet which is quite similar to a Hardware wallet but a little bit complicated. An offline software wallet splits a wallet into two accessible platforms – an offline wallet that contains the private keys and an online wallet that has the public keys stored

Hot Wallet

The difference between Hot and Cold wallets is that hot wallets are connected to the internet while cold wallets are not.

When you make use of a Hot wallet, the private keys will be saved forever on cloud storage which is always connected to the internet. There is always a danger of your wallet getting compromised if hackers manage to get a grip of your private keys. If your private key is stolen, it is guaranteed that your coins will also be stolen from your wallet. 

The biggest advantage of keeping cryptocurrency in a hot wallet is that it can be used to help facilitate basic transactions. Individuals looking to make purchases with their cryptocurrency assets might choose to use a hot wallet because the holdings in that wallet will be transferable across the internet.

Let explain a little bit how cryptocurrency works. 

To store a cryptocurrency, you will need

  1. A Public Key
  2. A Private Key

A public key enables you to receive cryptocurrency transactions. It’s a cryptographic code that is connected with a private key. While anyone can send transactions to the public key, you need the private key to “unlock” them and prove that you are the owner of the cryptocurrency received in the transaction. The public key that can receive transactions is usually an address, which is simply a shortened form of your public key.

Therefore, you can freely share your Public Key to receive funds.

Here is one important piece of advice, never share your Private Key with anyone. A Private Key gives you the ability to make a transaction with your Cryptocurrency and can also serve as proof of ownership. A private Key can take any form including;

  • 64 digit hexadecimal code
  • QR code
  • 256 long binary code
  • Mnemonic phrase

Regardless of the form, a private key is always long and it is like that for a reason. You can use your private key to generate your public key but not vice-versa. More than one public key can be connected to a Private key also.

When an individual decides to send cryptocurrency to you over the blockchain, they are sending those coins to a hashed version known as a Public Key. Another key, known as a Private Key is hidden from everyone on the blockchain and only known to the user. The private key can be used to obtain the public key.

How are Cryptocurrencies Stolen?

The private key is used to create a signature for each transaction concerning the transfer of cryptocurrency. This implies that a user endorses the transaction for the cryptocurrency that they want to send to another person on the blockchain, using a private key. If someone obtains your private keys, they would be able to transfer your cryptocurrencies to themselves, therefore stealing the coins from your wallet.

We will be looking at the different ways to recover your lost crypto assets and how to avoid this type of shenanigan from the onset. Apart from been hacked, there are other ways you can lose your cryptocurrency. Which include

.

  • Fake cryptocurrency investment
  • Giveaway scams
  • Phney jobs offer
  • ICO fraud
  • Fake crypto wallet
  • Bitcoin stealing-malware

In addition to the scam listed here more are likely to spring up, because as interest in crypto grows, malicious ideas to scam people grow with it. The fraudster may even adopt blackmail, telling you they have a secret picture or video of you and tell you to pay them with BTC or other types of cryptocurrencies. Generally, any kind of transaction that you are been forced to make payment in BTC is probably a scam.

To protect yourself, double down on protecting your crypto wallet using a secure password and virus protection just like you will do with other financial accounts. You can also keep multiple copies of the private keys in a place where you can easily access them but thieves can’t.

Paraventure, you lost your cryptocurrency either by sending it to the wrong person account or been scammed by an organisation, here are steps you can take in the process of recovering your cryptocurrency: 

  •  Contact the platform that scammed you: You will have to reach the trading platform that defraud you and steal your cryptocurrency. Let it be known to them that, failure to refund you will lead to you reporting them to the appropriate authority. This doesn’t necessarily assure that they will give you your money back, but it is a step in the right direction. Because your action could pay off if followed by action.
  • Inform Your Wallet Exchange/Provider: Reach out to your crypto wallet provider and notify them of the scam. They may be able to retain some information about the transaction that could come in useful in an investigation.  This will raise awareness and ultimately expose any scams connected with the crypto wallet which may also help deter others from being scammed.
  •  Report to the Appropriate Financial Authorities: You can contact the appropriate authority about your stolen cryptocurrency. Although most local authorities probably can’t do anything about your stolen crypto because of technical know-how, by informing them you help create awareness about the ongoing sham. So, when reporting to authority try to give the most amount of information you can, by doing this the authority will be able to create a proper case which in turn create awareness for the crypto-world at large. 
  • Contact a hacker: You can hire a hacker to help you get back your stolen cryptocurrency. The hack will help you monitor the blockchain to track your stolen cryptocurrency. You can hire our recommended hackers to help you get back your lost or stolen cryptocurrency. We do recommend you go to thehackerspro.com to hire a hacker to help you retrieve your cryptocurrencies. 

49 Comments

  • Ernesto Alexander

    October 31, 2021 - 9:10 am

    To my knowledge BTC transactions are completely trackable through the PUBLIC blockchain using various accounting strategies even if people use Tumblers or washers. The same strategies used in todays Central Banking System (shell corps, offshore banks, etc.) can be employed. Some strategies include first in first out approach. The difference is instead of a few shell corps as layers of security, people use hundreds/thousands of BTC wallets as layers. Currently we really use manpower to analyze central banking system (accountants). For BTC youd instead use software to analyze. GG.
    In central banking the benefit is privacy. The government really needs warrants and probable cause to see statements, getting more complicated with international shell corps and banks. BTC is all viewable by anyone.
    The point is to fly under the radar (just like in todays banking world). Once a wallet is flagged, all transactions are traceable. Problem is linking a wallet with a person. If a government agency just watches a flagged wallet to see if it gets spent (say at Tesla’s dealership to buy a car lolol, or an exchange like Coinbase to swap for cash) then your cover is blown, the wallet is linked to a human. The government wins because you cant spend your BTC and therefore it has no real value. You have to find another black market user that will take your BTC and sell you a black market product/service. Thats why its called “black market”, keyword market. Its an entirely separate market (i use “entirely” just for explanation purposes. The black market actually crosses with the “white market” in a way called money laundering).
    I mean you could go to some sketchy cash for BTC store in Pakistan. Cuz no 1st world country will give you straight cash without documenting the transaction, atleast not for significant amounts. But you have to know contacts, how do you know they wont just kidnap you or steal your coins. And then wtf are you going to do with your cash, take it across the border? Might as well kept your crypto. The only thing to do with that cash is launder it, again you gotta find a way to do it in Pakistan lols.
    Another topic: im sure with big data (take camridge analytica for example) you can link tons of wallets with people. Cambridge analytica essentially didnt hack or anything. They just used peoples public FB profiles to make a data signature of people. They use fake accounts and befriend people so they can access info available to “friends” and “friends of friends”. Etc Theres a strategy (i forgot the term) where people send insignificant satoshis to an address to trace how it moves. Or when you purchase things at microsoft with a btc wallet your name gets attached to it. Microsoft has that data, not everyone else. But the government has data to everyone, a simple warrant is all it takes.
    Tldr: similar approaches for central banking can be used for BTC blockchain. Tell your company working with an experienced accountant who does this kind of stuff with central banking would help. And you as the techie would translate it to blockchain.
    Disclaimer: i am talking out of my ass, correct me if im wrong, this is just logic talking

    • Nadia

      February 14, 2022 - 10:56 am

      Loosing ones Crypto currency can be a devastating thing to experience, the fact that it is almost impossible to recover a Stolen or lost Crypto coin hurt more than anything. When a person get scammed of their money while investing in a crypto currency platform the only thing they can think of is how to report the company and get back their money. Most victims of the scam contact their wallet account provider, their bank or the law enforcement, a few end up hiring a lawyer to sue the company but after all these stress they still cant get their money back. Please everyone should be careful where they invest their money. Cryptocurrency has made many rich including myself and at the same time made so many broke and desperate. Few weeks ago when I was referred to claimpayback and I was able to get back all my stolen Ethereum that was Stolen through their services. If you want to recover your cryptocurrency that was stolen or lost I recommend you to the digital triangulation team at claimpayback. they are reliable and trustworthy. You can also contact them via [email protected] . I wish you all the best.

  • heun ming

    October 31, 2021 - 9:18 am

    Work in cybercrime and I’ve just written a paper on this.
    Have a look into blockchain analysis, do put a transaction to a person it would have needed to go through a broker/exchange which is friendly with your nations mlat requests

  • David may

    October 31, 2021 - 9:19 am

    Trace it forward to an exchange where the hacker might try and convert it to fiat. With a police report and collaboration from the exchange you MAY freeze the btc or get the identity of the hacker.

  • nivec

    October 31, 2021 - 9:22 am

    I always get a bit nervous when I have to download a new version of Electrum because I know this is the time I’m most vulnerable. I will honor your warning by always verifying GPG signatures from now on which is something I haven’t been doing because of laziness. I’m sorry to hear about your loss and I hope you can recover your peace of mind.

    • amir khaled

      October 31, 2021 - 9:23 am

      If your process for updating Electrum involves googling the word ‘electrum’ or clicking a link in e-mail, it’s only a matter of time before your stuff is stolen.
      Set a bookmark in your browser for the real Electrum site. Always confirm the HTTPS certificate of the site. Always verify signatures of updates you download. And don’t download new updates immediately – wait a few days for other people to try it first, just in case of the unlikely event that the upstream code repository was hacked.
      I’m always amazed at how many people go to sites they regularly visit by searching the name in a search engine instead of going directly to the real site or using a bookmark. That’s just asking to be “hacked”.

  • Joseph siphon

    October 31, 2021 - 9:24 am

    Genuinely curious: Why do people use electrum without a hardware wallet?
    Since ledgers and trezors have been available, it seems like the only way for a retail hodler have a fighting chance to keep their coins safe.
    Most stories I read like this are usually hot wallets or someone that got phished into typing their seed into their keyboard.
    For now the main way to stay safe is to only store crypto on a hardware wallet and know how it works.
    NEVER type your seed phrase into a computer. ALWAYS verify the address and contracts you interact with.

    • Julian asange

      October 31, 2021 - 9:26 am

      Genuinely curious: Why do people use electrum without a hardware wallet?
      Some people are just more concerned about physical storage than digital storage. Some may think it is more likely for someone to steal their seed in the physical world than someone getting access to their computer and getting their private keys and breaking the encryption or getting a keylogger in their computers.
      Imagine sharing an apartment for example, would you feel safe storing your seed recovery phrase in the physical world if you didn’t trust your roommates and their guests? At least with computers you can encrypt your entire disk, encrypt your files, store backup in the cloud encrypted many times by different software and shit like that. Every situation is different imo.

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    December 8, 2021 - 4:40 pm

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    December 12, 2021 - 9:53 pm

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    December 27, 2021 - 1:19 pm

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    January 1, 2022 - 5:51 pm

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    January 2, 2022 - 11:39 am

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    January 7, 2022 - 4:52 pm

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    January 8, 2022 - 12:54 pm

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    January 9, 2022 - 4:11 pm

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  • Mona

    March 30, 2022 - 12:53 am

    First of all, there is no shame in being a victim of bitcoin investment scams. By coming forward you may be able to recover some or all of your lost funds and prevent the scammers from targeting others. Thanks to claimpayback who has been helping victims of other scams After i had lost $494,300 to crypto investment scammers, i thought it was over until i contacted and opened a case with [email protected] Even tho it took a while, at least i got back my money

  • Timothy Perry

    March 30, 2022 - 6:25 am

    It very painful when I see people complaining of getting their investments lost when investing in binary option trading, the purpose of investing is to gain profit but it become painful when you lose your investment, I know how it feels like, when you lose your funds while trying to make profits but I was able to get back all my funds through a recovery Team and with their recovery Expertise i was able to to get back my lost funds plus my profits , if you ever lost hope on recovering your stolen investments by scammers, open a case directly with claimpayback.com

  • Nelson

    April 4, 2022 - 10:53 am

    If you’ve ever fallen victim of any type of scam all you need do to recover your fund is hire a professional to get the job done. reach out to thehackerspro.com and open a case with their 24/7 live support. They are a professional recovery expert who successfully recovered over 150,000 worth of BTC lost to scammers, revealed their true identity which helped law enforcement capture the scammer

  • Hill Turner

    April 4, 2022 - 10:54 am

    The rate people steal bitcoin is overwhelming, i met a certain an investment broker at and she did a very calculative maths for me about how i could make tipple of my capital, so i decided to go ahead with the investment $750, 000 of my hard earned sweat of 9 years in 7 accounts.I was able to withdrawal just $100, 000 at first and then i couldn’t get any of my initial capital back. I called them several time and also sent emails but all to no avail. I was referred to [email protected] com who helped recovered 100% of my lost funds to me.i just received a deposit of xmr in my trust wallet equivalent to 735,000 I couldn’t believe at first that this was possible because i lost hope in contacting anyone on the internet, but i guess not everybody is bad after all.

  • Diego Perez

    April 4, 2022 - 1:31 pm

    My name is Diego Lopez. I was scammed of USD459,800 by this mining pool. I wanted to withdraw USD100,000 from my account. They asked for 5% tax to be paid to the Hong Kong Tax Bureau so I sent them USD22,990. But they came back saying since I am at the VIP stage (funds of USD200,000 or more), I am allowed to withdraw a minimum of USD200,000 only, nothing less. So I sent them an additional USD20,000 promising to send another USD15,200 for extra charges. However, after sending the additional funds of USD15,200, I never got any reply. Never heard from them since. Luckily for me I started searching online for a possible way to get my money back. Then I found a recovery firm on Quora called “claimpayback.com”. I contacted them and explained in detail how I lost my money. Finally they helped me recover my money back after triangulating the scammed funds from the scammers outsourced wallets. If you have ever lost your money online to your broker or whatever online scheme, be it binary or crypto currency trading, dating, loan scams, lottery or whatever, there is a solution for you this is my testimony. You can contact them on ([email protected]) for more information on how to recover your funds.

  • Alec Meller

    April 8, 2022 - 10:16 am

    DeFi exchange hacks and cryptocurrency theft is growing like wildfire and at this rate even the most secure companies and accounts are getting hacked. If you have fallen victim to such criminals you can file a detailed complaint with the digital triangulation and recovery experts at (claimpayback.com) and get your cryptocurrency recovered. They are a top notch recovery company based in silicon valley and very trusted by clients from around the world..
    For Lost BTC recovery, forex and binary options scam, phising and roman scam, [email protected], is your go-to person. I am saying this because my family has benefited immensely from his work.

  • Dolores Chandler

    April 26, 2022 - 12:01 pm

    Choices are made with the right consultations. However, being scammed once or twice is really not the end of life. I invested 60% of my income and couldn’t get anything in return, but thank God I found : [email protected], an expert who helped me recover all my money back from a broker who almost ruined my life. He’s an adept who applies caution.

  • Nikki Church

    April 27, 2022 - 3:45 pm

    Don’t fall victim like I previously did.. reach out to kravitz hein, a hacker and smart contract specialist that is into credit repairs, deleting negatIves, phones and emails hack and recovering lost or stolen cryptocurrencies. Contact him on [email protected] You can say Nikki Church referred you to get a discount.

  • Milosz Gorski

    April 28, 2022 - 11:07 am

    Have you gotten yourself involved in a cryptocurrency scam or any scam at all? If yes, know that you are not alone, there are lots of people in this same situation. I was once a victim of a cryptocurrency scam that cost me a lot of money. This happened a few weeks ago. There’s only one solution which is to talk to the right people, if you don’t do this you will end up being really depressed. I was really devastated until I was referred to a recovery expert. Less than 2 weeks, he has already recovered 90% of my loss: ([email protected]).

Comments are closed.

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