How To Recover Stolen Cryptocurrency - Recover Lost or Stolen Crypto 2023!
Cryptocurrency is said to be the safest method of transaction. However, it may also get stolen or lost, like paper notes. For example, one incident in August 2021 was responsible for $610 million worth of cryptocurrency stolen. While you may recover the paper money or trace it, recovering crypto is nearly impossible. As a crypto investor, losing your cryptocurrency can be devastating, but fortunately, there are ways to recover lost or stolen cryptocurrency. This article will cover all the possible ways to get back your crypto. Nevertheless, keep in mind that you may see the ways we are going to mention, but there is no guarantee that you will get the cryptos back.
How to Recover Lost Crypto?
Usually, losing crypto means that the trader lost his access to the Wallet, password, or private key. However, an investor may know the crypto wallet address and can even trace it. But, you may not get access if you forget or delete the seed phase.
When you are unable to access your crypto wallet, you have two options to recover it. The first option is to seek assistance from a professional crypto-hunting service. The second option involves extracting data from the hard drive that contains the lost private key.
Check the following steps on how to recover lost crypto.
Seek Assistance from A Professional Crypto-Hunting Service
As many people lose their cryptocurrencies, many companies started services to find the lost cryptos. These providers utilize computing power and advanced algorithms to search for a seed phrase or password through brute computing methods. But it is not an easy task.
The amount of time and effort that a professional crypto-hunting service needs largely relies on the user’s ability to recall crucial information. If the user can remember portions of the seed phrase or password, then the required time can be significantly reduced.
However, normally the crypto hunter doesn’t charge and fixed amount. Instead, they ask for a percentage of the total cryptos they can retrieve. Therefore, they only take the task if you lose a huge sum of virtual currencies.
Extract Crypto Data form Hard Drives
There might have been some cases where investors delete their wallets or seed phrase by mistake. In such cases, extracting data from hard drives will help. In most cases, deleted files are not permanently removed from the system and can be recovered using specialized software that can also retrieve corrupt files. Although users may need to download, install, and operate the software themselves, this method is relatively more affordable than hiring a professional crypto-hunter.
However, it is important to keep cautious when selecting a recovery software program. Because the industry is still in its early stages, there are numerous crypto scammers and fraudulent individuals offering ineffective recovery services.
How to Recover Stolen Cryptocurrency?
Stolen cryptos resulting from a compromised seed phrase, fraudulent activity, or unauthorized access to a custodial wallet or cryptocurrency exchange can be retrieved. The most common approach to recover the stolen funds is by tracing the money and notifying crypto exchanges to freeze the account while engaging a professional crypto hunter.
However, before you know the ways on how to recover stolen cryptocurrency, you need to know the nature of the theft.
Understanding the Nature of Cryptocurrency Theft
Thieves can steal cryptocurrency using several methods, such as phishing, hacking, and social engineering. So, let’s get to know how do you understand the theft nature.
Scammers send fake emails or create fake websites that look like real cryptocurrency exchanges or wallets. Their aim is to deceive users into providing their login details such as id and passwords or private keys. After that scammers or thieves use them to steal the user's cryptocurrency.
Hackers can steal cryptocurrency by attacking vulnerable exchanges or wallets. They exploit security weaknesses to get access to user accounts or private keys. On top of that, attackers may hack a user's computer or mobile device with malware or ransomware to steal their cryptocurrency.
Malware can take many forms, including viruses, ransomware, spyware and trojan horses. It can be spread through a variety of methods, such as phishing emails, infected attachments, malicious downloads or compromised websites.
Once a system has been infected with malware, the attacker can carry out a range of malicious activities, such as stealing encrypting files, sensitive data and demanding ransom payments, using the system to carry out other attacks, or control the system remotely.
Attackers commonly use social engineering to steal cryptocurrency. They may pretend to be a trusted friend or family member and request access to the user's cryptocurrency account or private keys. They could also deceive the user into sharing sensitive information by creating fake social media accounts or online personas that gain their trust.
Identifying Social Engineering Attacks
If you receive a message from an unknown sender, be cautious and examine their email address or social media profiles. Beware of suspicious emails that use similar characters to imitate legitimate ones - such as "email@example.com" instead of "firstname.lastname@example.org". Additionally, be wary of fake social media accounts that have the same profile picture and similar details as your friend. To ensure your safety online, it's important to do your research before engaging in any form of online communication.
Double-checking the sender is crucial to determine if a message is truly from your friend. Whether it's from a colleague or someone else, it's important to contact them in person or over the phone to confirm if they have actually sent the email or message. It's possible that their account has been compromised without their knowledge or someone could be impersonating them on social media platforms.
When visiting a website, it is important to be cautious of any suspicious signs. Take note of the URL to ensure it begins with HTTPS and not just HTTP, check the quality of the images and the presence of the company's logos. Be mindful of any typos or outdated information, as these could indicate that the website is not legitimate. If you suspect that the website is illegitimate, it is best to leave immediately to ensure your safety.
If an offer appears too good to be true, think twice before accepting it. Cyber attackers often use attractive incentives to lure people into social engineering attacks. Consider why someone would offer you something valuable without any clear benefit to them. Be aware of the risks, even seemingly harmless information like your email address can be collected and sold to malicious advertisers. Always stay vigilant and be cautious of any suspicious offers!
If you receive an email with a suspicious link or file name, proceed with caution and scrutinize the entire message for any other red flags. Pay attention to the context and timing of the message, and don't take any risks by opening attachments or links that seem suspicious. Take additional measures to verify the authenticity and safety of the communication.
Although there is a little chance that you will get the crypto back, but at least you can try. In the very first step you should report the theft to the respective authorities. And it should be done immediately.
Step by Step Guide on how to Recover Stolen Cryptocurrency
Check out the following steps to try to recover your stolen crypto.
Step 1: Report the theft to the Relevant Authorities
The first step to recover your stolen crypto is to report the theft to your local law enforcement agency. While the chances of recovering your funds through legal channels may be slim, it's still essential to have a record of the theft. This documentation can be useful for tax purposes and may be required if you decide to pursue legal action against the thief.
How to Report Stolen Crypto Currency?
Reporting cryptocurrency theft to the authorities is crucial if your funds have been stolen. Doing so can initiate an investigation and improve the likelihood of recovering the stolen funds.
The initial step in most situations is to reach out to your local law enforcement agency or cybercrime unit. They can assist in filing a police report and collecting any evidence related to the theft, such as transaction records, emails or even screenshots from the attacker.
Additionally, consider informing the cryptocurrency exchange or wallet provider where the theft occurred. They could freeze the attacker’s account and provide further details that can help with the investigation.
Step 2: Contact the Involved Platforms
If your cryptocurrency was stolen from an exchange or wallet service, contact their support team immediately. Provide them with all the relevant information about the theft, including transaction IDs, wallet addresses, and any other pertinent details. They may be able to freeze the stolen funds or help trace the transactions to identify the thief.
Step 3: Track and Monitor to Recover Your Stolen Crypto
Typically cryptos use blockchain technology to transfer. Therefore, you can identify different crypto movements and volumes. Although transactions on the blockchain cannot be reversed, cryptocurrency platforms can be notified to assist in identifying the individual responsible and freezing their account. To trace the crypto funds, users can use a blockchain explorer to track the funds. Funds are usually transferred to the perpetrator’s wallet address. If the funds are moved to a wallet linked to a cryptocurrency exchange or brokerage, Know-Your-Customer (KYC) is often mandatory for individuals looking to convert Bitcoin to fiat currency. Therefore you can easily trace the stolen crypto.
Step 4: Legal Action
If you want to recover stolen cryptocurrency, you can consider taking legal action, either by filing a civil lawsuit or pursuing criminal charges against the attacker.
To file a civil lawsuit, you need to provide evidence that the attacker is responsible for the theft and ask for compensation for the value of the stolen funds.
To do so, you usually need to hire a lawyer and gather evidence, such as transaction records, emails or messages from the attacker, and any other evidence related to the theft.
Criminal charges can also be brought against the attacker for cryptocurrency theft, but this process involves law enforcement agencies and is typically lengthy and complicated.
You need to report the theft to the appropriate authorities and provide evidence of the crime in order to pursue criminal charges. The authorities will investigate the matter and decide whether to prosecute the attacker.
Step 5: Hire an Expert
A crypto hunting service can assist to recover your stolen crypto by attempting to rediscover lost seed phrases and passwords. Such services typically charge a percentage of the total amount of cryptos recovered as their fee.
These companies have experience in tracing transactions, identifying thieves, and working with law enforcement to recover stolen funds. While hiring a professional recovery service can be expensive, it may be worth the investment if you've lost a significant amount of cryptocurrency.
What to Look When Hiring A Crypto Recovery Expert?
Hiring a crypto recovery expert can be a wise decision to recover the cryptocurrency. But what should you look for when hiring a crypto recovery expert?
Experience and Expertise
When looking to hire a crypto recovery expert, it's important to consider their experience and expertise. It's best to choose someone with a proven track record of successful recover lost bitcoin and cryptocurrency. You should seek out individuals who have been in the industry for a while and have a deep understanding of how cryptocurrencies work. It's also important to find someone who has experience working with various types of wallets and exchanges.
It's also crucial to consider the reputation of the crypto recovery expert. You should search for feedback and testimonials from their past clients to determine their level of service. Moreover, you can browse online forums and social media platforms to see what others are saying about the expert. A competent crypto recovery expert should have a favorable reputation and be recognized for their professionalism and expertise.
When hiring a crypto recovery expert, transparency is vital. You should collaborate with someone who is clear about their fees and the procedure they will use to retrieve your cryptocurrency. It's best to avoid experts who make unrealistic promises or demand payment upfront without any guarantees. A reliable crypto recovery expert should be transparent about their fees and the probability of success.
The recovery fees for a crypto case depend on the complexity and the funds being recovered, and they can vary widely. Ensure that the recovery expert is transparent about their fee structure and any additional costs involved. Avoid those who ask for upfront payment or offer guaranteed recovery for a flat fee.
It is crucial to consider communication skills when hiring a crypto recovery expert. Choose someone who responds promptly and expresses themselves clearly. They should describe the recovery process in simple terms and available to address any concerns you may have. An excellent crypto recovery expert should also keep you informed with regular updates about the progress of the recovery process.
To ensure the security of your personal and financial information, it's crucial to consider security when hiring a crypto recovery expert. Look for an expert who takes security seriously and implements measures to protect your information. Seek out experts who use secure communication channels and have a secure storage system for sensitive information.
By taking these factors into account, you can find a reliable and trustworthy crypto recovery expert who can help you recover your lost cryptocurrency.
How to Recover Stolen Cryptocurrency From Trust Wallet?
Recovering stolen funds from a compromised Trust Wallet can be a challenging and uncertain process. Nevertheless, there are steps you can take to enhance the likelihood of a successful recovery, such as:
- Contact Trust Wallet Support: The first thing you should do is contact the support team of Trust Wallet. Explain the situation and provide any relevant information.
- it's crucial to provide related details like the date and time of the incident, the type and amount of crypto stolen, as well as any transaction IDs to aid in the investigation.
- Furthermore, you can also reach out to the blockchain network’s support team where your digital assets were stored. And potentially track down the stolen bitcoin or cryptos and initiate a freeze on them.
- If you lost a huge amount of money, we recommend you to seek professional assistance from a cryptocurrency recovery service or legal entity. These experts can provide valuable guidance in navigating the complicated process of reclaiming your stolen assets.
How to Recover Stolen Crypto From MetaMask?
If you think someone stole your cryptocurrency from MetaMask, do the following things:
- Use the “Start a Conversation” button on the MetaMask Support page to contact them.
- They will ask for more details about the theft and give you safety tips and the next steps for your Wallet.
- Fill out Asset Reality’s form for more help and safety tips.
- Asset Reality will review your information and give you updates about the investigation.
However, the time it takes to investigate and the success rate may differ depending on your case.
Recovering Lost Crypto From A Cold Wallet
If you have lost access to your cryptocurrency stored in a cold wallet, there are a few steps you can take to try and recover it:
- Check for Backup: First, check if you have a backup of your cold Wallet’s private keys or seed phrase. If you do, you can restore your Wallet and access your funds.
- Take Professional Help: If you can’t access your funds or don’t have any kind of backup, you will need to ask for professional help. They can be cryptocurrency recovery service provider or a cold wallet specialist. These services can help you recover your lost crypto, but they may charge a fee for their services.
- Contact the Wallet Provider: You can also contact your cold Wallet provider. They may be able to help you recover your lost bitcoins or cryptos or provide you with additional information on how to access your Wallet.
How to Prevent Cryptos from Being Lost and Stolen
To safeguard your cryptocurrency and prevent it from getting lost or stolen, here are some useful suggestions:
Choose a Secure Wallet
Opt for a reliable and secure wallet to store your cryptocurrency. Look for wallets that offer features such as two-factor authentication, biometric authentication, and multisig wallets. To safeguard your cryptocurrency from theft, using a hardware wallet is among the most reliable methods. These physical devices store your private keys offline, which minimizes the possibility of hacking and theft. Hardware wallets are user-friendly and provide top-notch security, making them a suitable option for secure and long-term storage of your digital assets.
Backup Your Private Keys
Always keep a backup of your private keys or seed phrase in a secure location. This will help you regain access to your funds if you lose your wallet.
Keeping your private keys safe and secure is of utmost importance in accessing your cryptocurrency. To avoid vulnerability to hacking and malware, it is recommended not to store your private keys on your computer or mobile device. Instead, it is best to store them offline in a secure location, such as a hardware wallet or a paper wallet.
Enable Two-Factor Authentication
Enabling two-factor authentication (2FA) adds an extra layer of security to accessing your cryptocurrency account. With 2FA, you'll need to provide two forms of identification, such as a password and a code sent to your phone or email. By doing so, you can significantly reduce the risk of unauthorized access and prevent theft of your digital assets.
Regularly Update Your Software
It's essential to keep your software up to date to prevent cryptocurrency theft. Security patches that address vulnerabilities and protect against hacking attempts are often included in software updates. Make sure to regularly update your cryptocurrency wallet software and any other software related to your digital assets.
Avoid Public Wi-Fi
Refrain from logging into your cryptocurrency wallet using public Wi-Fi networks as these networks can be vulnerable to hacking.
Educate Yourself About Scams
It is important to be aware of the various scams and phishing tactics used by scammers to steal cryptocurrency. Educate yourself on these common methods to avoid becoming a victim. Beware of any unsolicited messages or emails that request private keys or cryptocurrency payments. Always verify the legitimacy of any communication before sharing any sensitive information.
To safeguard your cryptocurrency and avoid losses, it's crucial to take proactive measures and prioritize security. By implementing the recommended steps mentioned above, you can significantly reduce the risk of falling victim to theft. This includes using a hardware wallet, enabling two-factor authentication, securing your private keys, keeping your software up to date, and educating yourself on common scams. By taking these precautions, you can confidently invest in cryptocurrency with peace of mind.
Legitimate Crypto Recovery Companies
Since cryptocurrency lost or stolen has become common, many companies started giving service to recover your stolen crypto. Therefore, it becomes difficult to find the legitimate crypto companies. But, the following companies are authentic as some of them were features at Forbes.
Cipherblade is an investigative firm that specializes in cybercrime cases involving cryptocurrency. Using blockchain forensics, Cipherblade tracks cryptocurrency to investigate a range of niches, including exchange hacks, ransomware cases, SIM swapping and theft cases, and cryptocurrency fraud and scams. Cipherblade collaborates closely with law enforcement, top cryptocurrency exchanges, lawyers, and regulators to ensure that cybercriminals are held accountable for their actions. Their record speaks for itself, with millions of dollars in recovered assets and a proven track record of providing critical data for the arrest and prosecution of criminals.
CipherBlade provides a comprehensive range of services, including security training for small businesses and high net worth individuals, as well as consultation for top-tier blockchain projects. As a trusted company, CipherBlade can help you prevent breaches or navigate their aftermath. They not only identify the responsible parties, but also ensure that they are held accountable for their actions.
Criminals are frightened by CipherBlade's impact on the blockchain industry, as they continuously establish new standards and protocols to safeguard their clients. CipherBlade team is eager to assist anyone who lost their crypto.
CNC Intelligence Inc. has the expertise to track down scammers who have defrauded you, regardless of their location around the world. Further, they use legal channels or law enforcement to recover your funds, and return your money to you.
CNCIntel was established by a team of professionals with extensive expertise in various fields, including crypto investigation, legal affairs and asset recovery. According to several sources, the team has more than 40 years of cumulative experience, which is a highly regarded number in this industry.
The operational model of CNC Intel is simple and straightforward. They begin by gathering information about the incident from the client, followed by offering a free consultation. The primary purpose of the consultation is to inform the client if the funds can be recovered or not. During the consultation, they discuss important details such as fees, potential outcomes, and estimated timeframes.
After the client accepts the contract terms, the firm's experts begin analyzing the case. They gather data and collect evidence to build a compelling case. Attorneys handle the necessary formalities based on the case's complexity. Once investigators obtain information about the perpetrators, they create a plan of legal actions against them and present it to the client.
However, according to user feedback, CNCIntel has an approximate success rate of 50%. This shows that the company is honest about their results. Their approach is to underpromise and overdeliver, which is proving to be effective in satisfying their clients.
Crypto Asset Recovery
CryptoAssetRecovery.com was established with the goal of providing cryptocurrency owners with the tools and knowledge to safeguard their assets. Chris Brooks, a seasoned technology professional with extensive industry experience, founded the company in 2017. He previously served as the VP of Technology at Carescout and was a programmer at Fidelity Investments.
The addition of Chris's son Charles to the team in 2021 turned CryptoAssetRecovery.com into a family business. Charles, currently a computer science student at the University of Vermont, brings a valuable and innovative perspective to the company along with extensive technical knowledge.
Chris and Charles are working together to pave the way in the field of crypto asset recovery, and to promote the widespread use of cryptocurrency around the globe. As pioneers in this dynamic and ever-changing industry, they are claimed to be at the forefront of it all. So, do not allow a lost password to deprive you of your digital wealth. You trust Crypto Asset Recovery to be your crypto guardians, as they embark on a mission to retrieve your missing assets.
Crypto Recovery Frauds
Fraudsters who pose as crypto recovery experts are scams that aim to exploit individuals who have lost access to their cryptocurrency wallets or have had their funds stolen. These scams involve charging a fee to recover lost bitcoin or cryptocurrency, but instead of providing a legitimate service, the fraudsters steal the money and take advantage of vulnerable individuals.
There are several types of crypto recovery frauds.
Advance Fee Scam
Fraudsters commonly use the advance fee scam, where they demand payment before offering any recovery services. After receiving payment, the fraudster vanishes, leaving the victim with no way to recover your lost cryptocurrency.
Phishing Scam for Crypto Recovery
Fraudsters also use phishing scams in crypto recovery fraud. They send fake emails or messages that appear to be from legitimate crypto recovery experts. The message may contain a link to a fake website that looks like a legitimate recovery service. Victims who enter their personal and financial information on the fake website may have their cryptocurrency stolen or become victims of identity theft.
Phishing and advance fees scam has become old fashioned. Now crypto recovery fraudsters use a new method to carry on their deception activities. They access the local news websites through the cheap or free press release distribution service and continue their scam. Here is how they use fake news.
The fraudsters pose as fraud recovery investigators on websites where they solicit fraud complaints and post reassuring customer testimonials, A-plus ratings, and five-star reviews. They then write press releases about fraud prevention and recovery, new technologies, or their success in returning money to victims. The press releases include links to their scam website and may quote the fraudsters as expert sources. Finally, the scammers upload the press release to a network of subscribing news outlets.
Small newspapers and community news sites sign up for these press release service. They add press releases automatically to enhance their local coverage. Similarly, larger news aggregation sites might also use these services to extend their business or industry reporting.
The fraudsters use creative writing techniques to deceive readers, create false hope, and make their scam look legitimate. They refer to their recovery services as "fraud recovery experts" or the "only successful way" to recover your stolen crypto.
The fraudsters begin their scam by enticing victims to visit their website and provide their email addresses and phone numbers for assistance. Unfortunately, this often leads to the theft of personal information, putting victims at risk of future scams. Research has shown that the majority of fraud victims are targeted multiple times, and prior victims are at higher risk of being targeted again compared to those who have not been victims before.
Recovery fraudsters often use victim lists as another tactic. These lists can contain a variety of information, such as payment and contact details, personal information, the amount of money stolen, and the type of scam used. Fraudsters can use this information to run another scam or sell it on the dark web for profit.
Fraudsters often contact victims via phone or email, posing as government officials, attorneys, or recovery service representatives. They typically claim to already have the victim's money or to be working with the court to distribute funds. Alternatively, they may inform victims that the fraudsters responsible for taking their money have been located and encourage them to begin a civil court action.
The scammers might claim that victims can retrieve most or all of their money by paying a small donation, retainer, or overdue taxes. But once the initial payment is made, the fraudsters may ask for more money.
How to Know if a Recovery Expert is a Fraud?
Be aware of the following warning signs, as they should raise suspicion and be considered a red flag. Any further attempts at fraud should be reported to the authorities.
- Before you are shown any information about fees or services, you are requested to provide your email address or phone number.
- If you're asked to pay before getting any service, be cautious. Even small fees or deposits could be part of a scam. Fraudsters may initially ask for small amounts of money, but over time, the frequency of requests and the amounts requested may increase.
- The recovery business fails to disclose its physical address on the website, or the address is situated outside of your location or country. Moreover, the address cannot be located through map or "street-view" searches, or it seems to be a fake business location.
- The website does not provide any phone numbers, or the communication is requested through messaging platforms such as Telegram, WhatsApp, or other similar apps.
- Be cautious if you are requested to provide your bank account details for the direct deposit of "recovered" funds.
- You may be receiving calls, letters, or emails from unknown individuals or companies that you have not previously contacted.
- The individual or entity appears to have detailed knowledge about the funds that you have lost.
- If the person or organization is using an email address that is based on a free web service like Gmail or Yahoo, be cautious.
- The seals, graphics, logos, or signatures of the organization appear to be copied and pasted from other documents.
- The letterhead appears to be of poor quality or not up to professional standards.
- The presence of grammatical and spelling mistakes should be noted.
- If the recovery service provides reasons why the fees cannot be deducted from the recovered funds, or they refer to the payment as a donation or tax, be cautious.
You may find it challenging and complex to recover lost or stolen crypto. However, there are several steps you can take to increase the recovery chances. For example, you can contact to the Wallet or blockchain support team, report the theft to the authorities, take professional help, and takes steps to prevent future losses.
Also, it’s important to remember to keep your private keys or seed phrase safe and secure. For that you can use a reputable and secure wallet, and stay cautious against any sort of phishing scams and fraudulent activities. By taking these precautions, you can help protect your cryptocurrency and minimize the risk of losing it.