There has been an increased rate of crypto adoption globally as crypto has become among the most valued financial assets. To many, crypto is a means of exchange which explains why people store or trade them for profit.
But the more crypto adoption increases, the more hackers advance in their various scam strategies. This has made many lose their trust in the assets as investors keep losing their funds on a daily basis.
The most worrisome part is that recovering stolen funds seems to be almost impossible. Victims of the crypto scam are left with no hope on how to get their funds or perpetrators, making many see the industry to be unsafe. What then is the way out? There is good news.
Before we go further, it may interest you to know that there are now companies that aim to restore the trust of people in the crypto industry. Notable among them is Coin Dispute Network, which assists scam victims in recovering their stolen crypto funds. They leverage their deep blockchain understanding to achieve this success for their clients in a couple of weeks or months, as the case may be.
In this post, Coin Dispute Network will enlighten us on the right things to do whenever our crypto assets are stolen.
Protect the remaining funds
On noticing suspicious activities on your crypto account, it is necessary to take immediate action. Even if it’s an investment platform that rug pulled with your funds, the first action is to protect the remaining funds, if any. You can either change the email address and password used in opening the account or transfer the funds to a new wallet. You can then delete the compromised wallet afterwards.
Contact the customer care of your exchange
Depending on the stage of theft, some exchanges may help you freeze your account momentarily to prevent permanent loss and protect what’s left. Some exchanges, however, may not do much, especially in countries where there are inadequate regulations over cryptocurrencies.
Report the incident to expert crypto retrievers
This is very necessary, especially if the scammers or hackers have made away with your crypto assets. We recommend that you report to the Coin Dispute Network’s customer care.
Endeavour to report the incident immediately and provide the necessary information of the crypto account correctly. This may include your name, wallet address, the scammer’s wallet address, the amount that was stolen, etc., as the case may be. This will aid in guaranteeing a full recovery of your funds as the company takes up the case from there.
Note that keying in the wrong details would jeopardize Coin Dispute Network’s effort in recovering your stollen crypto assets. Also, it is very important that you act fast. The quicker you can act, the better, as this would give the thieves less time to transfer the assets to cold storage or tumblers to mix them up, thereby making the funds harder to trace.
It’s no longer an era to be scared of the crypto industry or just fold your hands and weep when you lose your crypto funds. Act fast and do the needful to recover your stolen crypto assets by reporting to Coin Dispute Network.