Bitcoin recovery services trap - AVOID

[Yogee]

Please refer to this topic https://bitcointalk.org/index.php?topic=5264627.0
In summary, he was scammed twice. First was when he sent bitcoins to a ponzi scheme and second was when he paid a bitcoin recovery scam service in an attempt to get back his bitcoins from the ponzi.

The story may sound ridiculous but it happens to many beginners. Some newbies still fall for different types of scams like fake giveaways and bitcoin doublers. Another example is the recent hack on twitter, the scammers used the accounts of famous people to fool followers. If not for Coinbase, 1,000 more users would have fallen victim. They stopped the $280,000 worth of btc transactions from being deposited into the scammer's account.

Coinbase says it prevented just over 1,000 customers from sending around $280,000 worth of bitcoin during last Wednesday’s attack. Roughly 14 Coinbase users sent around $3,000 worth of bitcoin to the scam’s bitcoin address before the company moved to blacklist it, the company said.

- https://www.theverge.com/2020/7/20/21331499/coinbase-twitter-hack-elon-musk-bill-gates-joe-biden-bitcoin-scam

If you or someone else you know fell victim to these scams, please be informed that the btc sent to scammers are most likely unrecoverable. If you ever encounter a site that says they'll get it back for you at a fee, do not fall for it because they are also scams. Bitcoin transactions cannot be reversed and the only possible way I know to recover the funds is if the scammer themselves are careless in sending btc to centralized exchanges or services without obfuscating the transaction.

[1715550774]

1715550774

[1715550774]

1715550774

[1715550774]

1715550774

[1715550774]

1715550774

[Maus0728]

For those who are newbies. As long as it requires you to give initial payment for something in return such as recovery, giveaways, withdrawal request. It is a clear indication that someone is attempting to scam your bitcoin.

Even though I haven't tested these tools for recovery. There are lot of free services and DIY instruction for recovery (e.g., wallet password, seed phrases) not a bitcoin transaction or stuck funds in an exchange (contact the support of the exchange).

[1] https://kzen-networks.github.io/mnemonic-recovery/src/index.html
[2] https://walletsrecovery.org/

[Charles-Tim]

Normally, a good wallet provider or exchanges may have it written in their terms to be able to recover bitcoin sent to wrong addresses, but they are truthful to the fact that low amount of bitcoin can not be refunded, only amount that worth 1 bitcoin or more can be recovered or something, and out of the total bitcoin, it can be only 40% that can be recovered. That said, on many such wallet, exchanges and noncustodial wallets, this can not even be possible, ones the bitcoin is propagated in the network and have confirmation and mined, that is all and can not be recovered.

Any site, be it recovery service or not that ask someone to pay certain amount of bitcoin to get back your funds or for airdrop collection or the likes are actually scams.

You have said it all, the people are so ignorant to be a fool, although, not their fault but lack of knowledge. Some fall victim also because of greediness and hoping for something not real, and not even patient.

[JeromeTash]

Such bitcoin recovery service frauds could have been avoided in the first place is if some newbies stop being so greedy and decided to avoid ponzi schemes and fake giveaways. That mentality of some people thinking that they can just send money to a random stranger or website and think it will get multiplied without them putting any effort is very suicidal.

[BD Crypto]

From this post all new comers should learn about scammers.I already saw new users falling in Crypto recovery trap.In Crypto nothing is possible to return any transection.So never be fool again.

One more thing if you talk about coinbase then I will say that I don't refer this wallet as it has some security issue.
Here are the details

Coinbase the most anti-Bitcoin organisation. Make #DeleteCoinbase great again

[pakhitheboss]

It is better to always check before sending any Bitcoin to an unknown person or organization.It is always better to remember that once a Bitcoin transaction is made it can neither be recalled or reversed.

Scammers are getting started every day and if you do not want to get scammed then always remember "Nothing is Free in this World".

[minairia3]

It is better to always check before sending any Bitcoin to an unknown person or organization.It is always better to remember that once a Bitcoin transaction is made it can neither be recalled or reversed.

This is a protocol. First to do is check whether the person we transacted is legit or just a fake user. Based on OP post, he got scammed twice, so this is really painful. At first he should already avoid such ponzi scheme. And no one can ever recovered back a bitcoin was already set. So if anyone promises that then its completely a scam. Thats why they should learn the basic first of blockchain, knowing this simple idea could given them a hint that the person is trying to scam you.

[tvplus006]

...If you or someone else you know fell victim to these scams, please be informed that the btc sent to scammers are most likely unrecoverable. ..

Any transaction that does not have 1 more confirmation in the network can be canceled using double expenses with a higher commission. But as a rule, those who send their BTC to such a scam do not even think about the fact that they can be deceived and therefore do not use this method of return.

[The Cryptovator]

I have written a topic Don't be a victim of a second scam. People fall in the second scam due to a lack of enough knowledge about bitcoin technology. They aren't able to realize who got scam that lost bitcoin isn't possible to recover, and that's how they fall into the trap again. We should know that, bitcoin naturally is irreversible, so if anyone promises you to recover your scammed amount, that means you are going to the victim once again. Increasing awareness would help newbies from such as scams. Sadly newbies create post after scammed, but unfortunately, they can't ask the community before sending money to the scammer. So don't regret about your past mistakes and get a lesson from there instead of getting scam again.

[hatshepsut93]

I have written a topic Don't be a victim of a second scam. People fall in the second scam due to a lack of enough knowledge about bitcoin technology. They aren't able to realize who got scam that lost bitcoin isn't possible to recover, and that's how they fall into the trap again. We should know that, bitcoin naturally is irreversible, so if anyone promises you to recover your scammed amount, that means you are going to the victim once again. Increasing awareness would help newbies from such as scams. Sadly newbies create post after scammed, but unfortunately, they can't ask the community before sending money to the scammer. So don't regret about your past mistakes and get a lesson from there instead of getting scam again.

Irreversible transactions is only a part of the deal, these "services"  might claim that they can trace thieves and then get the money back. But tracing is easier said than done, it would require access to specialized tools of chainanalysis companies, which will probably be not worth it for small-scale scams. And then the final problem - even after the thieves are found, it might be hard to make them return the money - they could have already spent them, or hid them, or what is quite likely, the local authorities might now want to cooperate.

[bhadz]

It is better to always check before sending any Bitcoin to an unknown person or organization.It is always better to remember that once a Bitcoin transaction is made it can neither be recalled or reversed.

But the problem is that these scammers are giving false hope to the victims of another scam. They pretend to be good guys telling that they can recover funds. And the newbies are overwhelmed and believes that they can actually do it and later on will be asked for a deposit. Very bad experience for them because they might be gone and lose confidence in cryptocurrencies because of these scammers.

[Assface16678]

I don't know why the newbies are still falling to those traps because those are so obvious like I already said to the different threads.

I don't know why people keep supporting those platforms with the use of those tags.

• Can double your funds
• Legit
• No scam

It's too much vulgar so don't support untrusted website because those are absolute a scam why do the team of those platforms will give their users a free double or triple the coins of their investor there are only two reasons.

1. Help them or.
2. Scam them

If you already fall into a trap like the Ponzi scheme please immediately avoid and learn from your mistake and not risking all of your funds again to not known platforms.

[AakZaki]

This is an evil trap. Just imagine, when beginners are deceived by scammers with the promise of doubling Bitcoin and then losing their bitcoin, then they will find all sorts of ways to get their bitcoin back. And there are pitfalls of this bitcoin recovery service. If you believe in this trap, you can be sure to enter the same hole a second time.

when the scammer gets it, the bitcoin can never be restored. This should be a lesson for beginners out there. Always find out about projects that will be followed so as not to become a victim of further fraud.

[khaled0111]

He was scammed the first time because of his greediness then scammed again because he didn't know how bitcoin works. Once your transaction has been confirmed, there is no way to reverse or cancel it.
Users must educate themselves and learn how bitcoin works before starting to use it. It's not rocket science after all.
If he knew that confirmed transactions can't be reversed he would realize that any recovery service is a scam.

[Blank-Head]

Who believes on Bitcoin Recovery service? I don't think anyone will trust it if he have a little knowledge about Crypto.
This is Red Alert for Newbies to be safe from these classical scams.

[Yogee]

Who believes on Bitcoin Recovery service? I don't think anyone will trust it if he have a little knowledge about Crypto.

Apparently, there are still gullible people out there. Newbies fall victim to these scam recovery service frauds because of their little knowledge on how bitcoin transaction works. We can also add greed as another reason. From the topic I posted, I don't think the victim was totally ignorant. The thought of getting back the more than 100 btc he believed he had made him act carelessly.