Recovery

[robertcarlyle]

How could someone recover their money in the early days of exchanges assuming they acted immediately, asap?  Lets say they used paypal or some other means to buy bitcoin but their money was stolen by hackers, account stolen, or was simply compromised?  Would paypal or middleman act in favor of the buyer if the buyer acted as soon as they caught something wrong? 

[Jawhead999]

Assuming the exchanges have publicize if they gonna refund the coins, right?

I think it's not PayPal or middleman act in favor of the buyer, but they have a proof if the buyer was the owner since they have history where the buyer really have the funds at that time and sent to the exchanges.

If you lost your coins and the exchange has no plan to refund, treat it like 100% lost.

[BIT-BENDER]

This is not a complete questions, where was the money stolen from. You said they used money to buy Bitcoin. So was the money stolen or was the Bitcoin stolen? Was the purchase on the exchange successful and was the Bitcoin moved from the exchange to somewhere else. You need to make the discussion clear and this will help to determine who can actually help in the recovery if it will be possible.

[memehunter]

IMO If you have promptly acted and informed the exchange (presuming that coins are still there) you might have a chance to recover your funds. This is only possible in centralized exchanges, if scammer has deposited coins on decentralised exchanges, your have zero chance.

[Dunamisx]

How could someone recover their money in the early days of exchanges assuming they acted immediately, asap?  Lets say they used paypal or some other means to buy bitcoin but their money was stolen by hackers, account stolen, or was simply compromised?  Would paypal or middleman act in favor of the buyer if the buyer acted as soon as they caught something wrong? 

Using PayPal as at then will require you to accept their terms and policies, if the gateway platform got hacked, then this has to be a public issue and there is nothing they can do about it because they are centralized and you have no access to the private keys they have, if you're only concerned about this hack, then it's still the same as your burden to bear, because they won't be responsible for it, any misfortune leads to a permanent loss of your bitcoin.

[Mrbluntzy]

If for example, someone hacks through your account (PayPal or exchange) and steal your coins, I don't think there's any way the exchange can help you, because the coins that was stolen from you by the thief must have already been converted to fiat before you act. But if it was the exchange that got hacked and they have a policy that they will refund their customers, then you can be sure that they will give back your money but you don't know how long that will take for customers to get back their money.
 I will advise that you should never save your money on exchange or centralized accounts like PayPal and if you have small funds on those account, make sure to secure your account with 2 factor authenticator.

[robertcarlyle]

This is what i mean,


https://postimg.cc/k29PYXHv

[DaNNy001]

This is what i mean,


https://postimg.cc/k29PYXHv

It will be very hard to recover that funds since the service provider themselves were stuck within the scam. With what I read there they had to shut down because of the lope hole the scammers discovered and used again by now the Bitcoin would have been forwarded to other places which makes it a lot harder to track and follow up.

[nakamura12]

The work of a middleman is simple where the middleman will return the funds from the if the buyer is doing something wrong like scamming the buyer and the seller won't get anything. The middleman won't process send the payment if the seller haven't  given the product and the buyer won't get the product if the payment haven't sent to the middleman yet. In short, middleman will hold the product if it's digital goods and also the payment and give the payment to the seller once the buyer receive what he bought.

[Z-tight]

How could someone recover their money in the early days of exchanges assuming they acted immediately, asap?  Lets say they used paypal or some other means to buy bitcoin but their money was stolen by hackers, account stolen, or was simply compromised?  Would paypal or middleman act in favor of the buyer if the buyer acted as soon as they caught something wrong?  

If you bought BTC from a service and moved the funds into your self custodial wallet, if you are hacked, then there is nothing that anyone can do to help you, except you are able to report the issue to the authorities and they are able to track down the scammers, but the chances are so slim.

However, if you have your funds stored in an exchange and it collapses, if they are able to liquidate some of the exchange's assets and they plan to refund creditors, then you will receive your funds back.

[BitMaxz]

This is what i mean,

https://postimg.cc/k29PYXHv

I never heard of NewLiberty but it seems it is the first website that sells BTC.
Since you are using Paypal if ever you buy BTC from any exchanges or you buy BTC from a phishing or hackers website anytime you can dispute and reverse the transaction.

That is why nowadays there are no crypto platform or exchanges that accept PayPal as payment method because anyone can chargeback like on the screenshot you provided, scammers and hackers do this trick to scam exchanges or to anyone else.

So if you are the one who bought BTC using PayPal, you can reverse the transaction, unlike BTC once they sent it to your wallet and confirmed the exchange, or where you buy BTC, they can't reverse the transaction.

[robertcarlyle]

Self custodial wallet?  How could hackers access that?

[Z-tight]

Self custodial wallet?  How could hackers access that?

Just using a self custodial wallet does not mean you are safe, it only means you are in control of your funds because you have your seed phrase. Your funds is only as safe as the device you use it in, if you use your wallet in an online device, then you are vulnerable to hackers. To safely store your funds, you need to store it in cold storage and practice good opsec, to increase your safety you should also set up extra layers of security like extending your seed phrase with a passphrase or setting up a multisig wallet.

[robertcarlyle]

Then how come some north korean hackers able to steal more than a billion usd of ethereum from cold wallet?