How can stolen cryptocurrency be recovered legally? I got scammed last month. Is there any hope? by Kallen Collins

a year ago

I am sorry to break it to you but the answer is very likely no.

You dont say exactly how you were scammed so let me cover a few:

if it was some kind of investment service/defi site, they are great at hiding their tracks, you could call the police in faint hope they are investigating and know who actually is behind it. But in terms of retracting the money deposited not possible.

if it was some kind of token that is on-chain and it dumped to zero then you have fallen victim of a “pump and dump” scheme. You will never get it back. Quite often if you traded for their token, they block you from trading back to anything else.

If you invested using a crypto wallet then you can find out what wallet your crypto was deposited in but that doesnt help, you can't identify the owner of the wallet and you cant reverse transactions

The last thing I will say is never, ever hire a crypto recovery service, they are all scammers because its technically not possible to hack or recover crypto off the blockchain. It's never been done. It sounds odd to say since you hear about hacks but they exploit vulnerabilities in contracts. Or they steal ID’s or trick you into transferring crypto or money.

If you transferred money directly to a service (as opposed to depositing or swapping crypto) then your funds were never on the blockchain, it may have looked like it was but it was faked.

Sorry to be the bearer of bad news.

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