Survey Note: Comprehensive Analysis of Cryptocurrency Scams and Recovery Strategies

How to Spot, Report, and Avoid Cryptocurrency Scams

Key Points

• It seems likely that cryptocurrency scams can be spotted by watching for unsolicited offers, high-pressure sales, and poorly designed websites, though the exact signs may vary.
• Research suggests reporting scams to local police, the FTC, or the platform involved can help, but recovery success depends on the case.
• The evidence leans toward Crypto Recovery being effective, with claims of recovering over $52 million for 182,000 victims in 2023, though full recovery isn’t always possible.
• It appears that avoiding scams involves researching investments, using reputable platforms, and enabling two-factor authentication, but vigilance is key.

Photo by Ferhat Deniz Fors on Unsplash

Spotting and Reporting Scams

Cryptocurrency scams are tricky, but you can spot them by looking for red flags like unsolicited offers promising high returns or high-pressure tactics to invest quickly. If a website looks unprofessional or lacks contact info, that’s a warning sign too. If you think you’ve been scammed, report it to your local police, the Federal Trade Commission, or the platform where it…