Have you lost money to bitcoin scams and need crypto recovery? If so, it’s essential to act fast and yet to proceed with caution. Cybercriminals who run crypto scams can hide behind anonymous bitcoin wallets and launder money rapidly on the blockchain. 
Although it’s important to move quickly, it’s equally crucial to make the right choice with bitcoin recovery services. There are many services out there that claim to get your money back fast without any hassle. Meanwhile they do not know the right steps to take.
So what should you do? Contact Bridge Pioneers immediately. We have the skills, tools, and expertise to help you get started with crypto recovery and will empower you to track down the cybercriminals holding your funds. We create thorough crypto investigation reports that will give your claim an advantage and will help authorities find your funds.

What Steps Do You Need to Take for Crypto Scam Recovery?

Before beginning the process of crypto scam recovery, it’s important to become familiar with the process and to know what to expect along the way.

Information Gathering

Successful crypto recovery begins with you. This means collecting all of the data you need to create a full picture of the incident and how it happened. The data collection may involve emails and Whatsapp communications with the people running the bitcoin scam, screenshots of transaction confirmations, and misleading statements on websites. 
 
The more information you have going into the crypto recovery process, the smoother it is likely to go. You may be asked to go back and look for other types of information during the investigation process. Think about what might anyone doing a crypto investigation may need to know to track down the bitcoin scam that took your funds.

Crypto Investigation

Our proprietary crypto investigation method is the secret to our success. We combine crypto forensic methods and advanced technology to get a vivid picture of the cyber criminals who stole your money and where they send the funds. 
We combine two approaches that integrate technology and human ingenuity.  We use blockchain software that will show the path of transactions from the time your cryptocurrency left your bitcoin wallet to the multiple transactions performed by the suspected bitcoin scam. 
After we have tracked down the path of crypto transactions, Bridge Pioneers professionals carefully analyze results using crypto forensics techniques to figure out who may have your money and where it is. 
After we have fully analyzed the crypto transactions involved in your case and have launched a full investigation, we create a crypto investigation report. These are essential tools for approaching authorities with a crypto claim and they can improve the chances of a successful crypto recovery. 
Unfortunately, many crypto scams go unreported. If people do approach authorities, they give up too quickly. The reason is they simply make a claim with a few data points but nothing substantial that will give law enforcement any leads to tracking down the cybercriminals. 
Instead, Bridge Pioneers provides every client with a comprehensive crypto investigation report that will give the authorities detailed information about the case and even names and other identifying information about persons of interest involved in the bitcoin scam. 
These crypto investigation reports will put your claim miles ahead of other claims and complaints that only have a few dates and documents. Law enforcement acts upon solid, credible information that is presented in a form that is easy to understand and act upon. 

Approaching Authorities with a Crypto Investigation Report

Once we have created your investigation report, that is the real beginning of the fund recovery process. We will then guide you on the steps needed to get maximum assistance from the authorities for your claim. We include forms that will expedite the process of filing a claim with law enforcement. The easier you make it for authorities to help you, the more likely they are to act on your claim efficiently. Start your recovery process today!!!

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Cryptocurrencies, often referred to as virtual currencies or tokens, are quite different from typical currencies such as dollars or euros.
Instead of being issued and backed by a government or central bank, cryptocurrencies are digital assets secured by cryptography that can be used as a medium of exchange. Their  validity is typically provided by a blockchain system with an open, distributed ledger recording transactions.
While different forms of cryptocurrencies have been around for years, they became a cultural phenomenon in 2017 when the price of Bitcoin, one of the more established cryptocurrencies, skyrocketed to nearly $20,000, representing an annual gain of over 2000%. While 2018 saw the “Great Crypto Crash,” cryptocurrency remains very popular, with Bitcoin accompanied by other significant cryptocurrencies such as Etherium, Ripple’s XRP, Binance, Tether, and countless others.
In addition, cryptocurrency exchanges have also expanded, providing platforms that allow customers to trade cryptocurrencies for other assets, including conventional currency and other digital currencies.
But as with any financial vehicle, particularly one that is highly volatile and has garnered incredible public interest, there are opportunities for bad actors to defraud investors. Cryptocurrency fraud has become a dominant topic of discussion for government enforcement attorneys, with numerous prominent conference panels and agency bulletins addressing its various forms, the hype versus the reality, the many ways it can facilitate fraud, and efforts to rein in its abuse.
As crypto scams and fraud becomes more common, it will continue to be crucial for whistleblowers to help the SEC, CFTC, and IRS with their enforcement efforts.

Types of Cryptocurrency Fraud

Cryptocurrency fraud and scams can come in many forms, including:

Financial Crimes

Crypto’s instant transactions, portability, and international reach mean it can be used as a new tool for the furtherance of tax avoidance, money-laundering, and bribery.
Scam Initial Coin Offerings
The first offering of a particular cryptocurrency for sale, called an Initial Coin Offering or ICO, can be a means of preying on the unsophisticated. Many ICOs are completely fabricated, with phony bios of nonexistent team members and technical whitepapers copied from other, legitimate cryptocurrencies.

Pump and Dump Schemes

Crypto can provide a new variation of the classic pump and dump scheme, where owners of a stock try to drive the price up before selling off their holdings at an artificial peak. In the crypto world, this is common at the ICO stage, or even beyond, whenever false claims can hype up demand and permit the originators or dominant holders of the cryptocurrency to earn massive phony profits.

Market Manipulation

Fraudsters can attempt to manipulate the markets where cryptocurrencies or related derivative products are traded. Improper market manipulation may include spoofing, front-running, churning, and other schemes.

Ponzi Schemes

Crypto investments can also be used as the vehicle for a traditional Ponzi scheme, where new adopters are necessary to give artificial returns to the early adopters. Purported investments in emerging crypto markets can also serve as the supposed goal for Ponzi schemes. Given that crypto is widely misunderstood, it can be the perfect cover for a bogus scheme.

Traditional Theft

Crypto also provides criminals new opportunities for theft. They can hack investors’ crypto wallets and steal their currency; they can set up fake wallets to bilk counter parties; and they can set up phony crypto exchanges to steal customers’ money.

Broker/Dealer Fraud

The SEC has examined exchanges and funds investing in cryptocurrencies, which may, depending on the circumstances, need to register as broker-dealers or exchanges.

Unscrupulous Promotors

The SEC famously fined Floyd Mayweather and DJ Khaled for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs).

Regulation of Cryptocurrency

The SEC, CFTC, and IRS all assert regulatory control over cryptocurrency under certain circumstances. For the SEC, a given cryptocurrency must qualify as a security, or the “investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.” The SEC developed its application of this test to cryptocurrency in its now-famous report on The DAO, a German crypto ecosystem.

The CFTC also has authority to regulate crypto as a commodity in accordance with the Commodity Exchange Act. The CFTC has recently stated that crypto enforcement is a top priority because of its high risks for investor fraud.
The IRS has also taken the position that cryptocurrency investments are assets that should be treated like any other for tax purposes, permitting it to tax returns on crypto investments. And through its Criminal Investigations Division, the IRS can pursue money-laundering crimes committed with cryptocurrency. Enforcement efforts by the SEC, CFTC, and IRS can also extend internationally to schemes that have violated U.S. laws.
If you have been scammed or know anyone who has been, you can report to us using this Link and we would help you with recovery services.

The post More About Crypto Fraud first appeared on Bridge Pioneers.

 Cryptocurrencies such as Bitcoin, Ethereum, Solana and hundreds more are hot commodities in online trading, and it’s possible for an investor to make a profit. But many people have experienced dramatic losses, some through bogus investment platforms touted by scammers as sure moneymakers.

The Federal Trade Commission (FTC) warns consumers that “crypto investing comes with lots of risks, including scams.”


This virtual money isn’t backed by any government or central bank. Even so, you can use crypto to buy goods and services, exchange it for U.S. dollars and other conventional currencies on digital markets, and even obtain it at specialized ATMs.

But unlike the value of government-backed money, that of virtual currencies is driven entirely by supply and demand. This can create wild swings that produce big gains for investors — or big losses. And crypto investments are subject to far less regulatory protection than traditional financial products like stocks, bonds and mutual funds. Meanwhile, those crypto ATMs are favored by criminals for their anonymity and general lack of oversight.

Cryptocurrency fraud has taken a quantum leap in recent years. The FTC says that in 2022, more than 53,000 people reported losing a total of more than $1.4 billion in crypto to scams.

Social media is a hot spot for perpetrators of investment scams: Many people who reported losing money to a scam involving crypto said it started with an ad, post or message on a social media platform, according to the FTC. But, despite cryptocurrency’s high-tech gloss, many of the related scams are just newfangled versions of classic frauds. For example:

• “Celebrity” endorsements. Criminals posing online as billionaires or other big names promise to multiply your investment in crypto but instead pocket what you send.
• Pump-and-dumps. Using messaging apps or social media, crypto promoters plant rumors that a famous mogul is backing a certain currency. The aim is to convince investors to buy, driving up the price. The promoters then sell their stake, causing the currency’s value to plummet.
• Ponzi schemes. Some crooks peddling crypto create the illusion of big returns by paying off old investors with new investors’ money. Four founders of a supposed cryptocurrency investment platform called Forsage were recently indicted in Portland, Oregon, and accused of running it as a pyramid scheme. They took in $340 million from people around the world while promoting Forsage on social media as a legitimate, low-risk investment opportunity.
• Romance scams. Crooks persuade people they meet on dating apps or social media to invest or trade in virtual currencies. The FBI’s Internet Crime Complaint Center (IC3) fielded more than 19,000 reports of crypto-focused romance scams in 2022, with losses of nearly $740 million.

Another scam involves fraudulent sales pitches for “IRS approved” individual retirement accounts in cryptocurrencies. There are also straight-up hackers who break into the “digital wallets” where people store their virtual currency.

Crypto has also crept into everyday impostor scams, with criminals posing as government or lottery officials demanding payment in virtual currency for supposed debts, bills or prize fees, directing their targets to crypto ATMs and walking them through the transaction.

Warning signs

• Someone you don’t know sends you a message out of the blue about a virtual currency investment opportunity. 
• The pitch claims that the investment involves no risk and surefire profits.
• A call, text, email or social media message claiming to be from a government agency, utility or other official body seeks a crypto payment to cover a bill, debt or fee.



How to protect yourself from this scam

• Understand the risk. The virtual currency trade is speculative and volatile. As the FTC notes, “An investment that may be worth thousands of dollars on Tuesday could only be worth hundreds on Wednesday.” 
• Resist pressure to buy right now. Criminals often try to create a false sense of urgency around a supposedly red-hot cryptocurrency.
• Check out any dealer in virtual currency options or futures contracts before you buy. The U.S. Commodity Futures Trading Commission (CFTC) has a tool for running an online background check. 
• Thoroughly research any virtual currency platform or digital wallet provider before providing any credit card information, wiring money or disclosing sensitive personal data.
• Carefully read any agreement with a digital wallet provider. Unlike banks and credit card companies, they might not accept responsibility for replacing your money if it is stolen, the Consumer Financial Protection Bureau warns. 
• Don’t invest in or trade virtual currencies on the advice of someone you’ve only dealt with online, whether it’s an anonymous tipster on social media or a supposed romantic partner. And certainly don’t make cryptocurrency payments in response to threats over bills or promises of a prize.
• Don’t put money into an individual retirement account advertised as “IRS approved” or “IRA approved.” Some self-directed IRAs do allow investment in virtual currencies, but the Internal Revenue Service does not approve or review IRA investments. 
• Never share your “private keys” — the long letter-and-number codes that enable you to access your virtual currency — with anyone. Keep them in a secure place.

More Resources

• If money was stolen from you through a virtual currency scam, report it to your local police. If they resist taking your report, persist so that you have a record of the loss.

 

The post Cryptocurrency Fraud first appeared on Bridge Pioneers.

Scammers are always finding new ways to steal your money using cryptocurrency. To steer clear of a crypto con, here are some things to know.

• Only scammers demand payment in cryptocurrency. No legitimate business is going to demand you send cryptocurrency in advance – not to buy something, and not to protect your money. That’s always a scam.
• Only scammers will guarantee profits or big returns. Don’t trust people who promise you can quickly and easily make money in the crypto markets.
• Never mix online dating and investment advice. If you meet someone on a dating site or app, and they want to show you how to invest in crypto, or asks you to send them crypto, that’s a scam.

Spot crypto-related scams

Scammers are using some tried and true scam tactics — only now they’re demanding payment in cryptocurrency. Investment scams are one of the top ways scammers trick you into buying cryptocurrency and sending it on to scammers. But scammers are also impersonating businesses, government agencies, and a love interest, among other tactics.

Investment scams

Investment scams often promise you can “make lots of money” with “zero risk,” and often start on social media or online dating apps or sites. These scams can, of course, start with an unexpected text, email, or call, too. And, with investment scams, crypto is central in two ways: it can be both the investment and the payment.
Here are some common investment scams, and how to spot them.

• A so-called “investment manager” contacts you out of the blue. They promise to grow your money — but only if you buy cryptocurrency and transfer it into their online account. The investment website they steer you to looks real, but it’s really fake, and so are their promises. If you log in to your “investment account,” you won’t be able to withdraw your money at all, or only if you pay high fees.
• A scammer pretends to be a celebrity who can multiply any cryptocurrency you send them. But celebrities aren’t contacting you through social media. It’s a scammer. And if you click on an unexpected link they send or send cryptocurrency to a so-called celebrity’s QR code, that money will go straight to a scammer and it’ll be gone.
• An online “love interest” wants you to send money or cryptocurrency to help you invest. That’s a scam. As soon as someone you meet on a dating site or app asks you for money, or offers you investment advice, know this: that’s a scammer. The advice and offers to help you invest in cryptocurrency are nothing but scams. If you send them crypto, or money of any kind, it’ll be gone, and you typically won’t get it back.
• Scammers guarantee that you’ll make money or promise big payouts with guaranteed returns. Nobody can make those guarantees. Much less in a short time. And there’s nothing “low risk” about cryptocurrency investments. So: if a company or person promises you’ll make a profit, that’s a scam. Even if there’s a celebrity endorsement or testimonials from happy investors. Those are easily faked.
• Scammers promise free money. They’ll promise free cash or cryptocurrency, but free money promises are always fake.
•  Scammers make big claims without details or explanations. No matter what the investment, find out how it works and ask questions about where your money is going. Honest investment managers or advisors want to share that information and will back it up with details.

Before you invest in crypto, search online for the name of the company or person and the cryptocurrency name, plus words like “review,” “scam,” or “complaint.” See what others are saying. And read more about other common investment scams.

Business, government, and job impersonators

In a business, government, or job impersonator scam, the scammer pretends to be someone you trust to convince you to send them money by buying and sending cryptocurrency.

Scammers impersonate well-known companies. These come in waves, and scammers might say they’re from Amazon, Microsoft, FedEx, your bank, or many others. They’ll text, call, email, or send messages on social media — or maybe put a pop-up alert on your computer. They might say there’s fraud on your account, or your money is at risk — and to fix it, you need to buy crypto and send it to them. But that’s a scam. If you click the link in any message, answer the call, or call back the number on the pop-up, you’ll be connected to a scammer.

• Scammers impersonate new or established businesses offering fraudulent crypto coins or tokens. They’ll say the company is entering the crypto world by issuing their own coin or token. They might create social media ads, news articles or a slick website to back it all up and trick people into buying. But these crypto coins and tokens are a scam that ends up stealing money from the people who buy them. Research online to find out whether a company has issued a coin or token. It will be widely reported in established media if it is true. 
• Scammers impersonate government agencies, law enforcement, or utility companies. They might say there’s a legal problem, that you owe money, or your accounts or benefits are frozen as part of an investigation. They tell you to solve the problem or protect your money by buying cryptocurrency. They might say to send it to a wallet address they give you — for “safe keeping.” Some scammers even stay on the phone with you as they direct you to a cryptocurrency ATM and give step-by-step instruction on how to insert money and convert it to cryptocurrency. They’ll direct you to send the crypto by scanning a QR code they give you, which directs the payment right into their digital wallet — and then it’s gone.
• Scammers list fake jobs on job sites. They might even send unsolicited job offers related to crypto like jobs helping recruit investors, selling or mining cryptocurrency, or helping convert cash to crypto. But these so-called “jobs” only start if you pay a fee in cryptocurrency. Which is always a scam, every time. As your first task in your “job,” these scammers send you a check to deposit into your bank account. (That check will turn out to be fake.) They’ll tell you to withdraw some of that money, buy cryptocurrency for a made-up “client,” and send it to a crypto account they give you. But if you do, the money will be gone, and you’ll be on the hook to repay that money to your bank.

To avoid business, government, and job impersonators, know that

• No legitimate business or government will ever email, text, or message you on social media to ask for money. And they will never demand that you buy or pay with cryptocurrency.
• Never click on a link from an unexpected text, email, or social media message, even if it seems to come from a company you know.
• Don’t pay anyone who contacts you unexpectedly, demanding payment with cryptocurrency.
• Never pay a fee to get a job. If someone asks you to pay upfront for a job or says to buy cryptocurrency as part of your job, it’s a scam.

Blackmail scams

Scammers might send emails or U.S. mail to your home saying they have embarrassing or compromising photos, videos, or personal information about you. Then, they threaten to make it public unless you pay them in cryptocurrency. Don’t do it. This is blackmail and a criminal extortion attempt.

The post How To Avoid Cryptocurrency Scams first appeared on Bridge Pioneers.

Spam and Phishing E-mails Used Fraudulently

Fraudulent e-mails adopt many different forms and are the unauthorized actions of third parties not associated with misleading brand. These e-mail messages are referred to as “phishing” or “spoofing” are becoming more common and may appear legitimate by incorporating company brands, colors, or other legal disclaimers. Help protect yourself by becoming familiar with these methods of fraud:

• Spam:

   Often referred to as “junk mail,” spam consists of e-mail messages that are unsolicited by the recipient and that target the recipient with direct mail messages.

• Phishing:

   The term “phishing,” as in fishing for confidential information, refers to a scam in which the sender attempts to fraudulently obtain and use personal or financial information.

Most real brands do not request payments, personal information, financial information, account numbers, IDs, passwords, or copies of invoices in an unsolicited manner i.e through e-mail, mail, phone, or fax or specifically in exchange for the goods or services. Also most companies do not accept responsibility for any costs or charges incurred as a result of fraudulent activity.

Examples of Fraudulent Emails

Awareness and recognition of fraudulent letters, e-mails and phishing attempts is vital to protecting yourself against theft and other related crimes. Common indicators that an e-mail might be fraudulent include the following:

• Design Flaws: An e-mail containing distorted or irregularly sized logos
• Poor Grammar: Grammatical errors and excessive use of exclamation points

 

• Misspellings: Incorrectly spelled words or links to altered websites
• Sense of Urgency: Alarming messages requesting immediate action, such as “Your account will be suspended within 24 hours.” or “Contact us immediately to claim your parcel or prize.”
• Unexpected Requests: A request attempting to obtain money, financial information (e.g. bank account or payment card numbers), or personal information in exchange for the delivery of a package or other article
• Communication Gaps: An e-mail that does not provide an alternative method for communicating the requested information (i.e. telephone, mail, or physical locations)
• Deceptive Link: A link contained within an e-mail that appears to direct your browser to a known, safe site but actually directs your browser to another location, potentially to an unsafe or fraudulent site. You can detect this by hovering over the link with your cursor.  This causes the actual destination of the link to display in a pop-up, the lower left of your status bar, or other location depending on your e-mail client. It is suspicious if the actual destination does not match the address in the link. Also be suspicious of links containing numbers in place of letters, abbreviations, and slight misspellings in the link.

Fraudulent e-mails often appear to come from trusted sources, with the true sender revealed only through the Internet headers (not the same as the email headers).  The Internet headers can be found through your e-mail system from within the e-mail, using various methods depending upon the e-mail system you use.  For example, in Microsoft Outlook, this is accomplished by opening the e-mail in a separate window, clicking on the “File” tab and then choosing “Properties.”  The internet headers will be shown in the box at the bottom of the window.
Contact us for more information

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