Recovery cryptocurrency

[Y3shot]

Recovering cryptocurrency is one of the difficult things I think is impossible as far as cryptocurrency is concerned. That is why I try my best to handle cryptocurrency with absolute care, because if it gets lost, I don't think I can recover it either from scammers or exchanges, based on my experience. Recovery scams are one of the scam methods that are on the rise because when people lose their cryptocurrency, they find it difficult to let it go, and this is where scammers take advantage.

I wouldn't be surprised if some of us have been able to recover cryptocurrency from scammers or cryptocurrency that was lost to exchanges in one way or another; it is believed that we have different experiences with cryptocurrency.

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss? Or is it just better to let it go and learn from the experience to handle cryptocurrency more carefully? If you go to exchange social media, you will see a lot of complaints about lost cryptocurrency and many scammers disguising themselves as exchange customer care representatives, and I'm sure many are falling for it because they desperately want to recover their money.

[Charles-Tim]

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss?

The red flag is simple, and it is if the recovery site ask you to send them (the recovery site) money (like bitcoin), that they will recover the coins for you, know that you have been scammed again. I mean those online recovery service.

99% of the online recovery services are scam. This is enough for people to learn how to do it by themselves.

If you send coin to a wrong address or a scammer, first research if the address belongs to an exchange or not. If it is not sent to an exchange, to recover it is difficult.

If someone scammed you like $1000, that is very small for legit recovery services. They prefer to trace huge amount of money like $50000 or even more. You will need to contact one of the Chainanalytic companies for this.

[Ever-young]

If you lose money to scammers it’s better to report the scam to authorities and let them do the recovery and chasing of the case their self but having it in mind that chance of getting it back is already very little, but it’s easier that way to prevent getting scammed by those who will claim to know how to help them do it.

If I send money to an exchange address maybe wrong network or the fund is not up to minimum deposit as far as the exchange is not scam you can use their customer support to try to get it back, that particular one is a different case, and it can be recovered they can only charge you extra.

[adultcrypto]

Recovering cryptocurrency from scammers is not possible unless the authorities are involved and that will depend on the amount of money that is involved. It is safer to avoid falling into scam than to dream about recovering stolen funds.

To recover funds from exchange is easy if it happens for simple cases like sending money with a missing memo or similar offenses. However, some exchanges like Kucoin charge exorbitant fees for such services and how minimum amount of money they can initiate the recovery. Binance is the best for things like that because they charge only the network fees and their recovery is easy and fast.

[IjawMan]

Recovering cryptocurrency is one of the difficult things I think is impossible as far as cryptocurrency is concerned. That is why I try my best to handle cryptocurrency with absolute care, because if it gets lost, I don't think I can recover it either from scammers or exchanges, based on my experience. Recovery scams are one of the scam methods that are on the rise because when people lose their cryptocurrency, they find it difficult to let it go, and this is where scammers take advantage.

I wouldn't be surprised if some of us have been able to recover cryptocurrency from scammers or cryptocurrency that was lost to exchanges in one way or another; it is believed that we have different experiences with cryptocurrency.

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss? Or is it just better to let it go and learn from the experience to handle cryptocurrency more carefully? If you go to exchange social media, you will see a lot of complaints about lost cryptocurrency and many scammers disguising themselves as exchange customer care representatives, and I'm sure many are falling for it because they desperately want to recover their money.

Since recovery of crypto asset has not become rampant in the crypto environment and which most reports of crypto recovery attempt by the owner has mostly ended in scam attempt. I can't say that it's worth it at this time trying to recover lost crypto asset. Because it makes you vulnerable in the process of your desperation.

Yes na. The social media environment na net for scammers and at any opportunity they see to run an individual street, them di use all means to prey on the weakness of the individual because them know say at that period the individual done dey desperate to recover him lost crypto so him go succumb to any requests

Like I done talk before, na to let go. And be hopeful say in the future such recovery services go dey available and genuine for use.

[Amphenomenon]

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss?

If someone scammed you like $1000, that is very small for legit recovery services. They prefer to trace huge amount of money like $50000 or even more. You will need to contact one of the Chainanalytic companies for this.

Recovery coins is a difficult especially when it's made in a pseudonymous manner like Bitcoin, the resources to track and find it is difficult and not ignoring smaller transaction can even be more difficult to pinpoint.

This is also same when a user forgot/lost some significant amount of words from it seed phrase or characters from the private key. Time and resources for recovery can be expensive to cover especially from the fact this can get up to a year or more.

[Fiatless]

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss? Or is it just better to let it go and learn from the experience to handle cryptocurrency more carefully? If you go to exchange social media, you will see a lot of complaints about lost cryptocurrency and many scammers disguising themselves as exchange customer care representatives, and I'm sure many are falling for it because they desperately want to recover their money.

When I hear say federal government recover some crypto from CBEX scammers the thing sweet because to collect money back from them no easy. The best thing to to do na make you no enter their trap. If you allow them scam you, to recover the money back no dey easy. Except the scammer do valid  KYC for the exchange to track the money no dey easy. But it's like the law enforcement agencies of advanced countries get some tools wey fit track transactions. But the koko bi say no allow them scam you.

[Btcdeybodi]

If you send coin to a wrong address or a scammer, first research if the address belongs to an exchange or not. If it is not sent to an exchange, to recover it is difficult.

If someone scammed you like $1000, that is very small for legit recovery services. They prefer to trace huge amount of money like $50000 or even more. You will need to contact one of the Chainanalytic companies for this.

Am really ready to know how this works because if funds are sent to an exchange address can be recovered if it involves a huge amount, it then means that it can also serve as another scam method buy a scammer because let's consider a scenario whereby you did a transaction that involves a huge amount with someone who you don't know online, for example those that sell stuffs in the collectible section of the forum and it happens that the order have been delivered to the buyer and he has already made payments for it, if he is a scammer he can eventually send reports to a Chainanalytic company that he sent the coin to a wrong address, so in this situation what will happen? I really want to know how this recovery process works so that if doing online transactions will only be safer when using a non-custodial wallet address let me know.

[Charles-Tim]

for example those that sell stuffs in the collectible section of the forum and it happens that the order have been delivered to the buyer and he has already made payments for it, if he is a scammer he can eventually send reports to a Chainanalytic company that he sent the coin to a wrong address, so in this situation what will happen?

A scammer will not want to do that because they will ask for his details and most probably his identity. They will know the person they are helping. It is possible that the victim may get to them through a governmental organization that they can trust. My knowledge and experience are limited on this, my information may not be very accurate but I definitely know that except the scammer just want to do something stupid.

[Makus]

Recovering cryptocurrency from scammers is not possible unless the authorities are involved and that will depend on the amount of money that is involved. It is safer to avoid falling into scam than to dream about recovering stolen funds.

To recover funds from exchange is easy if it happens for simple cases like sending money with a missing memo or similar offenses. However, some exchanges like Kucoin charge exorbitant fees for such services and how minimum amount of money they can initiate the recovery. Binance is the best for things like that because they charge only the network fees and their recovery is easy and fast.

The only way I dey see possibility for this kind matter na when the authorities don already they trace the person transactions, the moment e send that money enter exchange them go fit tell the exchange to first freeze the account and secondly collect the money. But of the guy still leave the coins for non custodial wallet nothing them go fit do or even fit know the person name because the system is decentralized. So na for us to just make our side clean make scammer or hackers no see leverage to us carry us shine.

[Futurexxx]

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss?

The red flag is simple, and it is if the recovery site ask you to send them (the recovery site) money (like bitcoin), that they will recover the coins for you, know that you have been scammed again. I mean those online recovery service.

99% of the online recovery services are scam. This is enough for people to learn how to do it by themselves.

What you said here is actually true, due to how people have been robbed in the process of trying to recover their lost wallet, any company that portray themselves as a company that recovers lost wallet needs to do more to win the trust of the general public because their is no guarantee that even if they succeeded in recovering the asset , they wouldn't run away with everything.
I saw a company that recovers lost wallet  in this forum, they are keychainx, but I don't know if they are genuine or not, because I saw a thread about them here in this forum, though am still skeptical about them because they have not gain the full trust of the community, when I ask how much they charge for each services rendered, they said that they will be collecting 20% of anything that is in the wallet, so I don't know if you have heard about them before, and if they are genuine.

[Youngrebel]

Depends on the wallet you were using. If you were using custodial wallet then it is not hard to recover the funds and all what you ah e to do is to recover the password and you will see your coins back but if it is a non custodial wallet then you lost the coins if you misplaced your seed phrase. Save your seed phrase in Dave place and not only one place but multiple places.

[Cryptoprincess101]

If you lose money to scammers it’s better to report the scam to authorities and let them do the recovery and chasing of the case their self but having it in mind that chance of getting it back is already very little, but it’s easier that way to prevent getting scammed by those who will claim to know how to help them do it.

Just like you said, it is better to avoid being scammed or sending coin to a wrong address than to report it to recovery team because the processes will just be hectic which you might even end up not succeeding because the receiver can withdraw the coins out of the exchange wallet which means they will go through his KYC documents to reveal his real identity and all these process might require you to spend more money which you might still not get back your funds after all efforts to recover it.

If I send money to an exchange address maybe wrong network or the fund is not up to minimum deposit as far as the exchange is not scam you can use their customer support to try to get it back, that particular one is a different case, and it can be recovered they can only charge you extra.

Have you tried this, and it worked for you? I have sent coin that was not up to the minimum deposit amount, and it got lost till today. Though when i asked someone if there was a way to recover it, he just told me there was no remedy.

[Nightwalker(NW)]

Anyone who says that lost coin can be restored or recovered then such person is a liar and or possibly a scammer as well because when a coin is confirmed on the block it makes irreversible moreover when it has stated 1 confirmation.
The only alternative I know is possible to recover coin is when you know the receiver or the destination address, you can easily write to such person for a refund back and I think I have came across a post in this forum where someone mistakenly send a specific amount to someone address here on the forum and that person was pm and he sent back the coin. But anything less than this I don't think is possible not even an expert can restore it.

When making transaction it's always advisable to make sure we crosscheck our address (destination address) thoroughly before sending payments otherwise whenever its sent to the wrong address then that is end of that coin you can be able restore them back again.

[Obim34]

To recover funds from exchange is easy if it happens for simple cases like sending money with a missing memo or similar offenses. However, some exchanges like Kucoin charge exorbitant fees for such services and how minimum amount of money they can initiate the recovery. Binance is the best for things like that because they charge only the network fees and their recovery is easy and fast.

No exchange will do recovery without demanding for fees. I had received Bitcoin into my exchange less the minimum deposit, chatted the admin but they couldn't do anything, that made me read more rules and help service they can offer. Exchanges will take very high percentage of the money if they want to do recovery, the best way is avoiding mistakes or don't fall for scams, most scammers are knowledgeable on how to process stolen funds and go untraced.

[Y3shot]

If you lose money to scammers it’s better to report the scam to authorities and let them do the recovery and chasing of the case their self but having it in mind that chance of getting it back is already very little, but it’s easier that way to prevent getting scammed by those who will claim to know how to help them do it.

This is what is expected to do expecially when it has to do with exchange,  because it is only them that have the power to do everything positive about a loss coin.

Is trying to recover lost crypto assets worth it? Is it going to lead to more loss?

The red flag is simple, and it is if the recovery site ask you to send them (the recovery site) money (like bitcoin), that they will recover the coins for you, know that you have been scammed again. I mean those online recovery service.

A very big scam because I think it will even be best if truly they can recover stollen to first recover the fund and send the some amount to the victim and they take their own feel fron the recovered money.

99% of the online recovery services are scam. This is enough for people to learn how to do it by themselves.

Absolutely scam but people feel its possible because of lack of understanding

[Odogwu-Blockchain]

From my experience in the crypto space, there are mistakes someone can make with their assets and you'll get it recovered and there are mistakes where your assets are lost forever. These includes;

1. You do not hold someone responsible when you send your crypto to the wrong address, or send it to a scammer or you got hacked, or loss your pk as well as the secret seed phrase, there is nothing you can do to recover such assets and it's considered to let it go.

2. You can recover a lost assets when you send directly to the right address without including the memo tag, in this case your asset may not reflect in your balance but don't worry, you are safe. If you experience something like this, simply contact the customer representative of the platform you deposited your coin to and explain everything to be rectified in time.

[Smartvirus]

I wouldn't be surprised if some of us have been able to recover cryptocurrency from scammers or cryptocurrency that was lost to exchanges in one way or another; it is believed that we have different experiences with cryptocurrency.

There are a couple of ways in which Bitcoin can’t be lost to someone else and most of them doesn’t really means having to lose that digital asset but, loosing custody of the coins.
Notably, all these exists on the web and as such, security becomes of immerse importance. It’s the one thing you don’t dare use for a joke because, it could mean you’ve lost it all.

Now, Bitcoin can’t be lost by sending it to an exchange that you don’t have custody of. This could be recoverable by messaging the support in the event of scams and have them froze the account from withdrawal while they conduct investigation.

When you send to a non custodial wallet and you miss your seed phrase or private key, it’s as well gone to you.

[WhoYouCantKill]

It's impossible to recover crypto funds that has already left your wallet, except maybe the transaction hasn't gone through all the whole number of confirmations, even at this point, very few exchanges offers the feature of cancelling the transaction. So if anyone tells you that they can actually help you recover your Bitcoin or any other crypto that has already gone through all the confirmations and have left your wallet, then it's a total red flag and that person is an obvious scammer trying to swindle you of more funds, and going further might potentially put your asset or your personal information at risk.

[Agbe]

It's impossible to recover crypto funds that has already left your wallet, except maybe the transaction hasn't gone through all the whole number of confirmations, even at this point, very few exchanges offers the feature of cancelling the transaction. So if anyone tells you that they can actually help you recover your Bitcoin or any other crypto that has already gone through all the confirmations and have left your wallet, then it's a total red flag and that person is an obvious scammer trying to swindle you of more funds, and going further might potentially put your asset or your personal information at risk.

True I don't think that there is a feature in in any exchange that will help you to recover your coins that has been sent it's impossible to get your crypto assets back so before sending your coins to any address it's important that you confirm the address and make sure that it correspondence to where you want it to go because with the level of scams currently any mistake could be costly to you