Recover Funds Lost To Investment Scam; Investment scams involve promises of big payouts, quick money, or guaranteed returns. Always be suspicious of any investment opportunities that promise a high return with little or no risk. Investment scams usually involve getting you to put up money for a questionable investment – or one that doesn’t exist at all. Here are some investment scams you should look out for before we consider how to recover funds lost to investment scams.
Unsolicited contacts about investing
A scammer claiming to be an investment banker or a stockbroker calls, emails or contacts you on social media and offers investment opportunities. They may even claim to be from an investment firm or company you have heard of, as fraudsters sometimes impersonate these businesses to seem legitimate.
The scammer will claim what they are offering is a low-risk-high-return investment opportunity and will encourage you to invest as soon s possible.
The scammer’s offer will sound legitimate and they may have professional-looking websites and resources to back up their claims. They will be persistent and may continue to message you until you agree to invest.
The investments offered in these types of cold calls are usually shares, mortgage, or real estate high-return schemes, options trading or foreign currency trading. The scammer is usually operating from overseas, and won’t have a local license to operate.
Crypto Investment scams
- Ponzi Schemes: This is a type of investment scam where victims are tricked into investing in a nonexistent project or “get-rich-quick-scheme” that does nothing but rail investors into scamming them.
Cryptocurrency is ideal for this, as scammers are aware that the crypto space is a new and continually developing field, so they can make any claim to be building a cutting edge technology that will revolutionaries the crypto space. This technology is always not well specified and it’s just to attract investors and generate higher virtual profits. Falsifying data is easy when the money is virtual anyway.
- Pump and dump: Scammers encourage investors to buy crypto assets in little-known cryptocurrency projects, based on false information. The price of the assets subsequently rises and the scammer sells his shares, earning a handsome profit and leaving the victim with worthless shares.
- Fake exchanges: Scammers send emails or post messages on social about a crypto-asset giveaway context they want you to apply for. The scam scheme is that the participants usually have to pay a small fee first. The Exchange never exists and your money is lost forever. Sometimes the scammer will send a corrupted token that will send the coins in your crypto wallet if you try to sell it.
- Fake apps: Cybercriminals build fake legitimate cryptocurrency apps and upload them to the Play Store and App Store. If installed, it could steal personal and financial data, or plant malware on the device. Others may trick users into paying for nonexistent services or try to steal private keys from a cryptocurrency wallet.
How to recover funds Lost to Investment scam
You can recover funds you lost to an investment scam, whether it crypto related or not, so congratulations if you have lost your funds and you are on the hunt for ways to recover it.
As developers learn and understand the financial technology, scam victims can now file for chargebacks to reverse the transaction they sent the hacker funds with and discoveries in the blockchain industry have helped track stolen funds.
You can find these experts on Cyberspace, a platform that investigates frauds and helps victims recover lost funds. Cyberspace is beaming with hackers and Recovery Personnel with enough expertise to trace and recover your funds.
Cyberspace specializes in dealing with online scams and helps provide reimbursement to the victims using disputes, tracking down digital fingerprints, cyber analysis, and thorough investigative and recovery work.
Warning signs of an investment scam
- The promise of zero or low risks with high returns: Always remember, if something seems too good to be true it probably is. If you are promised ‘guaranteed returns’ this is a red flag.
- You are contacted out of the blue: You receive a call, email or message on social media from someone offering unsolicited advice on investments.
- High-pressure tactics: You are contacted repeatedly and are told that you need to act immediately or you will miss out on the investment opportunity.
- Someone you haven’t met in person offers you investment advice: Never take investment advice from someone you meet on social media or a dating app.
- Use of celebrity endorsements or images: These are usually photoshopped. Celebrities rarely discuss their investments or financial decisions in public.
- Someone has convincing promotional materials or websites: If documents like prospectuses aren’t registered with ASIC, it is likely part of a scam.