Refunds from crypto scammers
13 October
Fraud can affect anyone, and the cryptocurrency market is no exception. Every day this gray market is gaining momentum, and even experienced crypto investors or traders sometimes become victims of fraudsters. If you have transferred your assets to a fraudulent project or ended up on an unscrupulous crypto service, for example, a crypto wallet, you should immediately take measures to return the funds. Wise Way Legal lawyers have many years of experience in such cases - we have been helping clients get their funds back for more than 12 years. Contact us, and we will do everything possible to return your cryptocurrency.
Get a free consultation on our website.
How to recover money sent to a fraudulent crypto wallet?
There are various situations related to crypto fraud. For instance, you may have invested in a project that initially seemed attractive and promising. You transferred funds to a crypto wallet, and then suddenly, the broker disappeared, stopped responding to your inquiries. Or you paid for a service with cryptocurrency, but the service provider vanished along with the money.
Cryptocurrency transactions are known for their lack of protection, but this doesn’t mean it’s impossible to recover your assets. Let’s explore the steps you can take in such a situation.
Cryptocurrency chargeback: What is it and how does it work?
A chargeback is the process of returning funds, and it is the simplest way to recover money sent to fraudsters.
Important: Cryptocurrency chargeback is possible if you made the transfer using a bank card or through a payment system. If other methods were used, such as online payments, a refund is only possible by contacting law enforcement. Get a consultation on refunding your money from our lawyers.
A chargeback can also help you recover funds if you accidentally transferred them to the wrong person.
Steps to recover cryptocurrency
The chargeback process includes the following steps:
Filing a claim with the bank. You need to attach proof of fraud to the claim: screenshots of correspondence, links, receipts, contracts, etc. Waiting for a decision. The review period for the claim depends on your bank and the specific case. Refund. After the claim is approved, the bank returns the stolen money to your account.
If the fraudster hasn’t disappeared without a trace, you can try to resolve the situation out of court by sending a notification of contract termination and a demand for a refund.
How chargeback helps protect your money
A chargeback cannot prevent fraud, but it helps recover funds in the following situations:
Receiving money for a product you never received or for services that weren’t provided. Recovering funds stolen through account hacking. Recovering money sent to fraudulent brokers.
The only important thing is to prove the fraud.
Common cryptocurrency fraud schemes
Cryptocurrency is a favorite tool of fraudsters, and they use various schemes to steal money:
Selling non-existent goods. You pay for an item via a crypto wallet, but the seller disappears. Account hacking. Did you receive a message from a friend asking to borrow money? Often, it’s fraud. Crypto investments. Scammers promise high returns, pushing you to invest more and more. Renting mining equipment. Some services offer mining farm rentals, but scammers can be among them.
Why should you turn to professionals?
The chargeback process can be complicated for regular users, so it’s better to seek help from specialists:
Banks often reject claims. They frequently look for reasons to deny a claim, citing errors in the application or insufficient evidence. Our lawyers will help you avoid these issues. Saving time and nerves. You won’t have to study procedures on your own or worry about the intricacies of the process. Flexible payment system. The main fee for our services is charged only after the refund is approved.
Frequently Asked Questions
What situations can qualify for a chargeback on crypto exchanges?
Any illegal actions—fund theft, fraud, transfers from a hacked account, and other violations.
How to start the crypto asset recovery process?
The process begins with submitting a claim to the bank. It’s best to consult lawyers who can help gather all the necessary evidence and prepare the claim properly.
How long does a chargeback take?
Typically, the process takes up to 60 days, after which the bank makes a decision.
What are the chances of recovery in case of crypto wallet fraud?
By working with our lawyers, you significantly increase your chances of a successful recovery. We will help with the claim, evidence, and offer a plan of action in case of denial.
Our company’s specialists will help you draft a well-structured claim and action plan to ensure that your bank accepts the request.
Cryptocurrency transactions are known for their lack of protection, but this doesn’t mean it’s impossible to recover your assets. Let’s explore the steps you can take in such a situation.
Cryptocurrency chargeback: What is it and how does it work?
A chargeback is the process of returning funds, and it is the simplest way to recover money sent to fraudsters.
Important: Cryptocurrency chargeback is possible if you made the transfer using a bank card or through a payment system. If other methods were used, such as online payments, a refund is only possible by contacting law enforcement. Get a consultation on refunding your money from our lawyers.
A chargeback can also help you recover funds if you accidentally transferred them to the wrong person.
Steps to recover cryptocurrency
The chargeback process includes the following steps:
Filing a claim with the bank. You need to attach proof of fraud to the claim: screenshots of correspondence, links, receipts, contracts, etc. Waiting for a decision. The review period for the claim depends on your bank and the specific case. Refund. After the claim is approved, the bank returns the stolen money to your account.
If the fraudster hasn’t disappeared without a trace, you can try to resolve the situation out of court by sending a notification of contract termination and a demand for a refund.
How chargeback helps protect your money
A chargeback cannot prevent fraud, but it helps recover funds in the following situations:
Receiving money for a product you never received or for services that weren’t provided. Recovering funds stolen through account hacking. Recovering money sent to fraudulent brokers.
The only important thing is to prove the fraud.
Common cryptocurrency fraud schemes
Cryptocurrency is a favorite tool of fraudsters, and they use various schemes to steal money:
Selling non-existent goods. You pay for an item via a crypto wallet, but the seller disappears. Account hacking. Did you receive a message from a friend asking to borrow money? Often, it’s fraud. Crypto investments. Scammers promise high returns, pushing you to invest more and more. Renting mining equipment. Some services offer mining farm rentals, but scammers can be among them.
Why should you turn to professionals?
The chargeback process can be complicated for regular users, so it’s better to seek help from specialists:
Banks often reject claims. They frequently look for reasons to deny a claim, citing errors in the application or insufficient evidence. Our lawyers will help you avoid these issues. Saving time and nerves. You won’t have to study procedures on your own or worry about the intricacies of the process. Flexible payment system. The main fee for our services is charged only after the refund is approved.
Frequently Asked Questions
What situations can qualify for a chargeback on crypto exchanges?
Any illegal actions—fund theft, fraud, transfers from a hacked account, and other violations.
How to start the crypto asset recovery process?
The process begins with submitting a claim to the bank. It’s best to consult lawyers who can help gather all the necessary evidence and prepare the claim properly.
How long does a chargeback take?
Typically, the process takes up to 60 days, after which the bank makes a decision.
What are the chances of recovery in case of crypto wallet fraud?
By working with our lawyers, you significantly increase your chances of a successful recovery. We will help with the claim, evidence, and offer a plan of action in case of denial.
Our company’s specialists will help you draft a well-structured claim and action plan to ensure that your bank accepts the request.