$WLD $SOL How to Recover Stolen Crypto
Digital crimes aren’t always visible or obvious at first. But criminals have identified crypto as a target for phishing schemes among other fraudulent tactics. So, what should you do to recover lost crypto? Here’s a recap of the steps to take when your crypto assets are stolen:
1. Understand the situation.
2. Reach out for support.
3. Report to the proper authorities.
4. Employ blockchain forensics.
5. Implement security measures.
To begin assessing your situation, monitor your balance. For example, you may be a victim of theft if you notice a sudden or dramatic drop when you haven’t authorized a recent transaction. Additionally, keep an eye on crypto industry news for trends on attacks and recent security breaches.
As soon as you think a theft has occurred, contact your wallet or exchange provider. Maintain and share your own records of how much was stolen and when. While many providers take a proactive approach to recovering stolen assets, don’t hesitate to reach out to ensure the process is ongoing.
In the FTC’s 2024 report, American consumers reported 97,537 cases of fraud involving stolen cryptocurrency. Notably, not every report of fraud is reported. Involving the proper authorities shows law enforcement agencies on various levels the scale of fraud that can occur in crypto markets, which incentivizes them to invest more in the tools they need to recover lost assets.
Investigating cryptocurrency theft on the blockchain involves specialized forensic tools and data science knowledge. Cryptocurrencies leave a unique trail across the blockchain for investigators to follow. Bad actors and fraudsters often move the stolen assets through a variety of channels as quickly as possible to cover their footsteps. Professional investigators, like us, can work to track the digital breadcrumbs and contact the exchanges necessary.
Implementing security measures can help protect your assets. After experiencing a crypto theft, you should consider replacing the device used to stor
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