Cryptocurrency Fraud
Have you been a victim of cryptocurrency fraud? Has someone stolen your cryptocurrency?
If so, the Cyber Team at Watson Woodhouse are on hand to assist. We can assist in pursuing those who may be responsible for taking your cryptocurrency.
Free Initial Discussion
For a no-obligation discussion, call our specialist cryptocurrency fraud solicitors today on 01642 247656 or use our contact form and we will call you back.
What is Cryptocurrency?
Cryptocurrency is a digital currency, such as Bitcoin and Ethereum, which is an alternative form of payment created using encryption algorithms. The benefits of cryptocurrency include cheaper and faster money transfers but these benefits also make crypto vulnerable to theft and misuse.
As the popularity of cryptocurrency rises, so does crypto-related fraud. According to Action Fraud, in 2022 crypto scams rose by 72% resulting in more than £329 million in losses.
What is Cryptocurrency Fraud?
Common types of cryptocurrency fraud are schemes promising high returns in profit through investing or mining. These are frequently advertised on social media, offering you an easy and quick return on investment to attempt to steal your money or personal information. Some scammers go to the extent of creating high-quality websites and videos to advertise their schemes.
What are the common signs of Cryptocurrency Fraud?
There are common signs to look out for in cryptocurrency fraud:
- Promises of profits, especially in a short timeframe
- Hard selling/pressuring you
- Cold calls or contacting you via social media
- Insisting payment by cryptocurrency
- Lack of company information
Unfortunately, if none of these signs exists you can still be at risk of fraud.
What should I do if I have been a victim of Crypto Fraud?
If you have been a victim of crypto fraud and your assets have been stolen there are numerous ways to try and recover your assets:
- Instructing a solicitor on your behalf
- Reporting the matter to the police
- Reporting the matter to ActionFraud
- Engaging a blockchain analyst to trace your assets
- Reporting the matter to a regulator if a regulated entity is involved
Do I have to pay for legal representation?
Providing the person responsible for the fraud can be traced, then the costs will either be recouped from them, or paid from a central fund. You will be represented by an experienced fraud prosecution lawyer who will advise you along the way about your options and chances of success. We will criminally prosecute the individual responsible and aim to have your funds reimbursed and compensated.
How Watson Woodhouse Can Help
Unfortunately with this type of crime police resources are limited and you are referred to Action Fraud. Action Fraud does not have the complex network needed to prosecute these types of crimes and they often refuse to investigate due to a lack of resources and understanding. Watson Woodhouse Solicitors have a proven track record of private prosecuting crypto fraudsters. We work with enquiry agents, private investigators, and financial investigators to track your fund on the blockchain.
Contact Us Today
Call us for a FREE and confidential consultation with a specialist solicitor today on 01642 247656.
Alternatively, complete our online contact form and one of our solicitors will be in touch.
Watson Woodhouse Solicitors provide support to clients throughout England and Wales.
We are here to help
Call us for a confidential consultation with a specialist solicitor today on 01642 247656 or on our 24/7 Emergency Helpline 01642 917175
