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How to act in case of being scammed with cryptocurrencies?


Hello, how are you? Do you invest in Bitcoin? Would you like to make big profits? This is how many conversations usually start on social networks like Twitter, through private messages on WhatsApp or in emails.

They are supposed crypto traders and CEOs of companies that invest in the crypto market by buying and selling cryptocurrencies using in some cases computer programs that according to them use mathematical algorithms to obtain great benefits. They have come to assure me that with € 300 you can earn € 3000 per week. Is it really possible?

You have to be aware of what it is and that it is not possible to win with an investment

Warren Buffett has recently appeared at the top of the Forbes list of the world’s greatest fortunes. He made 99.7% of his fortune investing in shares of companies such as Apple, Amazon among others. Its annual yield is around the average of 20%.

It is possible that in a stroke of luck and only by chance we have a return of 100% or 200%, but that average will go down if it lasts over time, so no one can guarantee us such large returns continuously. For this reason, you have to be aware of what you can and cannot earn with your money and not be greedy because it is the first step to getting scammed.

There are many platforms that invest in Bitcoin and other cryptocurrencies, if you want to invest in some of your money, the main thing is to do a preliminary study of who they are and how much time they spend on it, if you do not know how to do it, you can request the services of a ethical hacker or researcher to give us their opinion on the matter.

What can make us suspect that they are trying to scam us?

There are indications that are given in most cases that make us suspect that they are trying to scam us. The clearest is the one we have said before about very large returns on investment, but we are going to list a few:

Suspicious websites

Not all of them, but the use of domains ending in .io These types of domains were released a few years ago for the use of anyone who wants to buy them. They belonged to the British Indian Ocean Territory until 2005.

These domains .io are known as domain hack not because they can be hacked but because they are used for word games, such as “chill,,”. But the most worrying thing in the use of these domains is that if we want to register a domain as or they will surely be registered but instead in a domain .io They will not be and thus they will confuse us by appearing more credible.

Lack of privacy texts

When you register on any website, links to the privacy policy and the conditions of use must appear in the contact forms. There are many where they do not appear, something that in Europe violates the RGPD (General Data Protection Regulation).

Phones or WhatsApp with foreign prefixes

The prefixes are usually from remote places when the company is supposed to be in England or the US, that makes us suspicious.

Lack of corporate website:

They do not have a corporate website and many only have access to a platform where we can enter our access data and nothing else. In the same platform there are no links to any other type of information.

Many questions and personal information

If they send you information so that you can fill in part of your personal information, they ask you above all for a lot of credit card information that you have, be very careful with that. In addition, the forms do not have any type of address, telephone or contact information of any kind at the bottom of the page. They also often ask if you are retired and if you want to make a profit on your retirement money.

False or unregistered registrations

You have to make sure not only that the company is registered with the relevant government regulatory entities but that it matches what they are telling us. In Spain this control is carried out by the CNMV and in England by FCA.

By accessing its website with the registration number we can see which company it corresponds to and all its data, in this way we can check it. There are some that can even falsify the certificates or impersonate some that exist but no longer have permission to work.

How to act if you have been scammed?

My advice is always to report first to the competent authority. It must be taken into account that in the vast majority of cases, locating mobile terminals and servers has to be done by court order.

An ethical hacker could do it, but it is a crime, in any case, to use his ability to coax a person, the owner of the phone, into telling him where he is calling from, for example by posing as an interested customer.

Then you have to collect evidence. This function is performed by computer experts. If everything has been done through cash transfers and the proof of income is saved as well as all the information, it will be easier and all you have to do is remove the conversations that have been had by whatever means, for example email or Whatsapp.

Then put everything in the hands of a lawyer specialized in technological crimes and it is good to make the pertinent complaints to centers specialized in technological crimes to not only put them on notice but also so that if they know something they can tell us. In Spain we have INCIBE and in Europe we have Europol.

The person scammed by any of these malicious actors should bear in mind that the ideal is for a computer expert to acquire evidence from their mobile equipment or computer terminals with the presence of a notary who gives faith, at least here in Spain, since The chain of custody will not be broken and what has been done will have legal validity, but there may be a risk that the judge will dismiss it as invalid for this reason.

You can also take the evidence to the judicial authority when the complaint is filed, it is a complication, I know, if it is for example your mobile terminal, but it is ideal.

Do not give in to blackmail or extortion

If you find yourself in a situation between a rock and a hard place, the first thing is not to lose your cool, to think that if they have been cheating on you and they do not return the money invested, why would they do it now? The best and most recommended by all professionals is not to pay anything more because you run the risk of losing even more.

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