We’ve all heard stories of people making huge amounts of money investing in cryptocurrencies. But where some have made a killing, others have lost an awful lot of money you only need to look at the volatility in the price charts to see that. Worse still, some customers who ‘invested’ never had the chance to make money, as they lost everything to a cryptocurrency scam.
Investing in the crypto market is in itself highly risky, and should be approached with caution. But if you do dip your toe into crypto, it’s important to recognise that it’s also fraught with danger and riddled with lots of illegitimate websites and scams. Look out for blogs, where we will be talking about the common crypto scams we see.
At RecoverItBack, crypto scams are what we’re contacted about most often. In many cases, we can help, especially when the money was initially move to crypto from a bank account. As a regulated claims management company, if you’d like our help, just complete our online claim form or give us a call. Remember, you can do it yourself for free by taking your case to the Financial Ombudsman Service.
Scammers manipulate victims by pretending to be advisors, friends, or investors, tricking them into handing over crypto or login details.
Fraudsters use famous faces or fake posts to make bogus schemes look trustworthy, luring victims into “guaranteed profit” traps.
Copycat exchanges and phishing sites mimic real crypto platforms. Victims think they’re investing securely but lose everything instantly.
At RecoverItBack, crypto scams are what we’re contacted about most often. In many cases, we can help especially when the money was initially moved to crypto from a bank account.
If you’d like more specific information on how crypto scams work, check out our scam blog posts below.