Bitcoin, the cryptocurrency everyone is talking about for a decade now, has come a long way into the crypto market and in spite of many new altcoins coming into play, it is still at the top of the cryptocurrency ladder. Morgan Financial Recovery, a firm dealing with crypto frauds (primarily Bitcoin frauds), has been in the business for over a decade with more than 3000+ cases handled and over $3 million recovered. The firm, headquartered in Albany, New York is at its forefront handling all the complex financial cases with ease and professionalism. Our unique methodology of dealing with crypto scams (primarily bitcoin scams) have made us the numero uno choice among all fund recovery programs across the globe.

Bitcoin, the decentralized currency has been the hard work of many years of a renowned gentleman called Satoshi Nakamoto who first invented it back in 2007. With an initial base value of $1, bitcoins (BTC) is still the most valued cryptocurrency in today’s world irrespective of how many altcoins come and go. Morgan Financial Recovery already predicted its upsurge way before, all thanks to its amazing team of advisors that we have on our team, we are constantly keeping in touch with the price fluctuations as well on a daily basis.

The transactions happen via a mechanism called blockchain, which can be fabricated into blocks and chains, block meaning blocks of digital information and chains meaning the public database where all the information is stored.  All transactions are encrypted in nature which means that no third person can know where the money was transacted, the reason why it is used so much for all the illegal activities around the globe.

Bitcoins can be stored in e-wallets as well as hardware wallets. The wallets are encrypted with passwords and one can store as much money as he wants. Bitcoins can be misused a lot for irregular activities and as a result Bitcoin scams have skyrocketed in the past few years. Morgan Financial Recovery already has a vast portfolio of all the bitcoin scams that have been happening in this world and now, it lists some of the most famous ones right below:

Phishing Scams

If you send us a consultation request, you will see that when we reply back, the mail is sent from the sender with a domain name @morganfinancialrecovery.com. A lot of users don’t check the domain names and as a result, click on all the scam emails that are sent to them. Then these scam emails direct them to a particular website that is going to steal their information and misuse it.

Misuse of information is rampant in the crypto world. Major misuse of information include irregular credit card or debit card transactions or using your card details to buy illegal goods and products. Hence, it is always advised to always double-check your details before clicking on any link sent to you by email.

Unverified Bitcoin Exchanges

As many as over 90% of the bitcoin exchanges are unverified and fake. They are issuing bitcoin trading services for some fake irregular license numbers. These license numbers can be easily verified with the help of a financial body where the numbers are publicly available. The point is that in spite of so many restrictions how are bitcoin exchanges able to work these scams out. The reason is the lack of knowledge among the people and their fake illusion of getting rich quickly.

In order to save oneself from these bitcoin scams, it is advisable to verify the license number of the exchange with the financial regulatory body of the specific country where all the license numbers of such exchanges are publicly available. And yes, Morgan Financial Recovery has already done the above stuff for you, where their portfolio boasts of all the validated and non-validated firms that are associated with bitcoins and other stuff.

ICO Scams

If stocks are what IPO’s are made of, cryptos are what ICO’s are made of. Now the problem lies in the fact is that it is way easier for an ICO to be publicly available because it requires a lot less work compared to an IPO.  All the regulations, paperwork are exempted when an ICO is about to be brought to the public, which makes it easy for the scammers to easily fool the investors. In order to save oneself from the scam, it is always advised to check the white paper before investing in an ICO. A white paper is an official document that is issued by the new blockchain projects before their ICO, informing the reader about the new technology or product that is being launched. Morgan Financial Recovery highly suggests you to hire a financial expert so as to look into the matter in a better way.

Social Media Scams

Marketers have been hiring persons to just maintain these fake social media accounts of these scam bitcoin exchanges. These fake people put up fake social posts every day promoting the particular brand and making sure everyone falls prey to it. They also run ad campaigns promoting that particular brand and bringing out more victims who eventually fall for such scams.

Other social media scams include giveaway scams where scammers hack a social media account with lots and lots of followers and rename it under the name of some famous social media personality. Then they post a bitcoin giveaway on it and in order to participate in the giveaway, one needs to make a small deposit. Many people fall for it as they think that is a very small investment for such a large prize.

What to do when you lose your money?

Bitcoins scams are common but they can be handled with ease. Losing money can turn one into a sad state of mind and they eventually end up being dejected in the long run. However, the money can be refunded when you hire a top-class fund recovery group.

Morgan Financial Recovery, being pioneers in fund recovery for over a decade has been successfully able to recover funds from all types of scams that are happening in the world. Be it crypto scams, binary scams or any kind of investment scams, our team of expert attorneys and bankers across the globe have successfully recovered over 3 million dollars as of now. Do send us a consultation mail with your query and we will get back to you at the earliest.