The Cryptocurrency Scam That Blew The World Away - CoinCheck​

Coincheck had to face tremendous challenges to pay back this much money, and it almost seemed impossible to catch the thieves. Coincheck updated the rules and authenticity to all the sites keeping in view the risk involved in online transactions.

This article is about an online scam conducted through Coincheck by a hacking system operated by hackers and faking into the crypto world. They lost $367 million worth of money which was meant to be refunded by coin check. So, the hackers developed a fake URL and login website linked with Coincheck, and they made up a website to grab a massive audience towards them by promoting it through different online applications and random text messages. Making people believe more and more in this website, they even hired artists and renowned people to make this look reliable and real.

Coincheck had to face tremendous challenges to pay back this much money, and it almost seemed impossible to catch the thieves. Coincheck updated the rules and authenticity to all the sites keeping in view the risk involved in online transactions. Scams are a part of online investments and the authenticity of people working behind matters. Coincheck reallocated most of the team for securing the crypto hot wallet, along with it, the security alerts were increased. As a result, the database management and safety improved by keeping the money hard to reach with a fully guarded money investment target.

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If you are someone who’s interested in Cryptocurrency, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

What is A Cryptocurrency Scam?​

To buy cryptocurrency, you have to use real money, and while you don’t have to deal with a bank, you do have to deal with a third-party exchange. And there are many examples of these exchanges closing overnight and losing people’s money in the process, like Bitconnect, for instance. It was once a viral exchange that wiped out roughly $2.5 billion in value. Its shuttered operations after several accusations that it was offering a Ponzi scheme. Other than that, there are a lot of giveaway scams on Twitter, like when scammers impersonate a well-known figure and then set up a fake giveaway. They will impersonate someone by mimicking the handle, avatar, and tweets of the original account.

And then, they will use the fake account to con people into thinking that the particular renowned figure is giving away cryptocurrencies online. All you have to do is send in your own money. First, this seems legit. And you don’t have to be a celebrity billionaire to be targeted. Some scams are even more elaborate; scammers will create fake Twitter accounts to run coordinated disinformation campaigns, all to manipulate the cryptocurrency’s price. Copycat cons are not unique to the crypto industry, but they are particularly effective because cryptocurrency is still emerging, and so it is full of uncertainty.

If you’ve been a victim of a cryptocurrency scam, then consult with us to help you get your account data and stolen money!

A Suspicious “Scheme” in The Making​​

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The company was portrayed as one of the largest emerging cryptocurrency investors, and it was said to hold the future against all the other crypto companies. The scam began with a massive amount of trust gained by the audience by engaging with them and making them believe in investing their money. These scammers started by showing people how many people invested with them and earned plenty of money, enough to buy houses and brand-new cars, ultimately shifting their lives by delivering them pictures and screenshots of fake contented investors. Somehow, a few people reported this scheme as suspicious because some of the potential functionalities of this website were not working. Many people stated that they began to trust this website after their first investment, which resulted in profit and made them believe in investing more money (some say double or even more).

They offered schemes and packages encouraging people to invest more and more by promising them an increased amount of money. They made sure their packages outlined the majority of investors by compiling a list of packages starting from low investments to really high elite ones. Hence, leaving no sign of fraud behind and being completely trustworthy in the eye of its audience. This enormous company was said to mysteriously vanish in no time, leaving no sign of existence online, successfully evacuating millions from the massive amount of people who funded their money, thinking for them to be increased. They disappeared quicker than they managed to come in and made themselves stand out.

Do you need help fighting off a scam attack?

It’s a big emergency if someone has stolen your personal or business information. You may need legal and technical advice to fix the problem. Our team can help you!

They Persuaded Innocent Victims in Investing Millions!​

This scam story began in 2019 when COVID’19 subsequently rooted into the entire world. An online company seemed to have registered and gained fame, cashing the advantage of the world as a whole to shift online due to the pandemic crisis. They pretended to be authentic by creating a fake appearance in the face of the world. The website, URL, promotions, everything was a total scam and fraud. They assumed the world would get online, and the best is in faking the masses with the idea of investing in cryptocurrency. These fake hackers built up an entire site to promote their fraud and encouraged people to come up with a wholesome amount of cash turned into their safe and sound online currency.

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We were told about this by a man who lost $78,000. He stated that the money he gave in was all by trusting a woman he met online and fell in love with. She introduced him to this new company with a very bright future where she invested and profited a lot of money, enough to buy a car in just a couple of months. He invested some money, and they doubled in time. It seemed to be fake, but he cross-checked and figured out nothing suspicious. Later on, he invested double the money, and the hopes were set high. The woman, on the other hand, pretended to be head over heels in love with him planning their future together, yet this whole thing was not official; it was just a part of an unofficial online relationship.

This lady convinced him to invest more and more money for better profits as if she had some insight into what was happening. He felt bullied into this scheme of giving in his money so quickly, but on the other hand, the woman reassured him of her love again and again. He thought of checking out on his balance one day and found out that it was empty and there was no money left in it. He was shocked and contacted the lady, and she claimed that I had lost $53,000 last night, and I have no idea what had happened. After making him feel slightly better, she again forced him to put all his money left so they could earn more, and she is always by his side.

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But he lost his last savings too, and when he tried to contact the lady, she disappeared and left no trace to follow her. The depression affected him mentally and physically, so he decided to seek help. Such crooks persuade innocent people to invest their money in large amounts, while some fake it to be crypto traders and take money by luring people they meet in online dating apps. Some hackers break into personal wallets by receiving all the personal information people tend to give when in love with these imposters.

How Much Was Lost in Total?​

The amount of total money lost by the massive amount of people was estimated to be worth $2.5 Billion, and the amount this victim lost was $78,000. This happened very statistically, where he was caught up in love with a lady online who convinced him to invest money, and even though he lost a lot of money, he assured him of the profit and kept giving in all he had.

Crypto Exists in Digital Form - But The Scams Exist in Reality!​

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This theft was not the most significant crypto theft but was considered one of the prime ones. As the future is in online money and currency, people can not stop investing in cryptocurrency. Still, there are many ways to distinguish between an actual website and a company or a fake one. Many fake crypto wallets in online ads and play store apps intend to steal your personal information and rip you off your money. One should always do proper research and get to know about its ins and outs before adding your cash onto it. Many fake wallets were banned from the play and app stores, but some remain in the hood.

Cryptocurrencies exist in digital forms and can only be transferred to digital addresses. When it comes to crypto, you get two keys; a private key that you should never share and a public key like your email address which you intentionally share. Many people confuse these, which leads them to get scammed. Another scam is asking for you to invest for yourself as a trusted creator. A fraud will create a bot that seems official or try to impersonate a project, specifically a team member, and then they will directly message you so that they look official. One of the common scams is that they ask for a hundred dollars, and then they will turn it into two thousand dollars for you and then give it back to you, and they are claiming to invest your money for you.

Get Acquainted with Chargebacking​

Our company came into existence when the owner was scammed personally and managed to get his money back. The whole idea of this company is to get people their money, funds, investments before they get scammed in numerous online ways. It is nearly impossible for people to avoid the exchange of money in this era, yet being a victim of such thefts is also a part of it. We make sure the people who seek our help in such cases get their funds back from such online frauds and money scams.

The world of online scamming is doubtlessly ruling, and as cryptocurrency is glorifying day by day, scammers and thieves are finding new ways to get money from innocent people by playing them with frauds. We can avoid it by looking for imposter websites that seem to be original or as the real ones but are fake versions. Fake mobile applications look like the authentic ones, often copying the logos and names. Tweets and social media updates are also a widespread way for such thieves, by creating fake accounts of celebrities or forwarding the messages and links.

We Can Help You

Victims of scams are stressed out because they don’t know what to do. We have the tools and experience to fight off scams. We will help you in getting your money back.

Please fill up the form now so that our team will get in touch with you.

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