How To Hire A Blockchain Recovery Expert: Blockchain recovery experts are blockchain experts that specialize in retrieving digital assets lost by investors or companies due to scams, system failures, and mistakes. Most recovery experts are teams of Web 3 developers and legal practitioners that help investigate and build workable solutions to the scam or error to get control of the digital asset before it is too late.
Blockchain recovery experts diversify in different areas of the blockchain, Smart Contracts. Non-fungible tokens (NFTs), Ethereum Blockchain, Decentralized Apps, and Decentralized Finance among others. A good Blockchain recovery personnel can utilize the blockchain enough to trace and recover digital assets no matter how difficult it might seem.
How Does Cryptocurrency Recovery Work?
The key to recovering stolen cryptocurrency is to know who stole the funds or how the funds were stolen. Sometimes victims don’t necessarily know the thief but know how the theft was carried, this has proven to help know who or what stole the digital coin. Without this information, there is nothing to follow. A competent Blockchain recovery expert will implement workable strategies as soon as a victim files a report with them. The recovery process differs based on the scenario, however, these are general steps followed by the Recovery expert;
- Submitting details and evidence of the case.
- Alerting the network of blockchain service providers to prevent them from receiving defrauded crypto
- Tracking the bitcoin and developing an in-depth forensic report on the transaction source and suspected wallets.
- Investigate the perpetrator’s companies, technology providers, and digital footprint that the criminals leave behind.
- Pursue the leads with representation and negotiate a settlement.
Is It worth hiring a Blockchain Recovery Expert?
Yes. Like many other things, you can do it yourself, but not the case for recovering your crypto asset unless you are a recovery expert yourself, the technology is relatively new so there are not lots of tutorials or articles explaining the method like most things on the internet. To successfully recover your crypto assets, one needs to be familiar with the nuances of blockchain technology which can be difficult for people without proper blockchain technology knowledge. It is best to bring blockchain recovery experts into the situation.
Since cryptocurrency is a pretty new technology for many investors even today, they may be unaware of the technology, and advanced solutions that crypto invested developers may be using. Hiring professional recovery experts who understand the in and out of stolen cryptocurrency recovery can increase the chances of winning the battle against scammers or even unfortunate scenarios like sending crypto coins to the wrong address or exposing your private key to the public.
The latest figure by a leading chain analysis firm indicates that around $140 billion worth of Bitcoin alone appears to be lost to scammers or in wallets due to lost keys.
We at Cyberspace have been working in our not so little way to reduce this number, with over 8 years of experience in the recovery business and millions in funds recovered, Cyberspace has been a trusted and still a trusted platform to recover your digital assets.
In many cases, hiring experts can lead to the recovery of your funds and even suggest reporting stolen cryptocurrency cases to higher authorities, building a solid case, and bringing cybercriminals to justice.
How to protect yourself from cryptocurrency scams
Many crypto scams are sophisticated and persuasive. Here are some steps you can take to protect yourself:
- Protect your wallet: To invest in cryptocurrency, you need a wallet with private keys. If anyone even the wallet provider asks you to share your keys to participate in an investment opportunity, it is a scam. Keep your wallet keys private.
- Keep an eye on your wallet app: The first time you transfer money, send only a small amount to confirm the legitimacy of a crypto wallet app. If you’re updating your wallet app and you notice suspicious behavior, terminate the update and uninstall the app. You can further scan the device for malware and virus.
- Only invest in things you understand: If it’s not clear to you how a particular crypto investment scheme or crypto-token works, then it’s best to hesitate and do further research before you make an investment decision.
- Take your time: Scammers often use high-pressure tactics to get you to invest your money quickly – for example, by promising bonuses or discounts if you participate immediately. Take your time and carry out your own research before trusting any platform with your crypto funds.