So, you are interested in trading cryptocurrencies like millions of others in the world right now. While the cryptocurrency market was already on the rise, the current pandemic situation has given even more pace to this market. People are now looking for digital currencies more than ever. However, this has opened a door of opportunities for the scammers as well. They know the world is fast shifting to trading cryptocurrencies and that’s why they have created fake websites and platforms to scam people. So, if you recently got scammed by crypto exchanges, you are not the only one.
There are many others like you who had dreams of becoming financially stable, and all they got from the online exchanges was deception. However, if you are thinking about calling the police, here is something you should know.
Got Scammed by Crypto Exchange – Why Calling the Police Won’t Solve the Problem
So, when you think about calling the police, you forget the fact that you are about to tell them about an online entity. You are going to tell them that you were scammed by an online exchanges. The first thing they will ask you is about the address or location of the exchanges. And when you tell them that the exchanges is located on the other side of the world, they will not do much about the situation. The problem is, they can catch people who exist in the country. They cannot catch thieves who are on the other side of the world. And that’s the case with online exchanges.
In addition to that, you might not even know the location of the exchanges truly. If you had not researched much before signing up with the exchanges, you might as well have signed up with someone who is not an exchange at all. The address you see on their website might be a bogus address. So, there is no way for you to catch them by calling the police.
However, if you are lucky that the exchanges you have signed up with has provided real details on the website, your police might contact the Interpol. Now, you have to keep in mind that Interpol will not catch the thieves like your local police does. That’s not the job of the international police. They can help your police get to the culprit, but that’s about it. Their job does not include more than that. In other words, you will not get as much help from these agencies as you may think.
Got Scammed by Crypto Exchanges – Some Preliminary Analysis
Now, just because your police cannot do anything about the situation does not mean you are not going to get your money back. There are certain online services that can help you with your situation. And there is no online service better than Money-Back to help you with your situation. Money-Back will help you get the money back and put the scammers in their place. More importantly, you are getting the help of professionals who have been providing this same service to others like you for four years. However, before you even get in touch with Money-Back, you should do some preliminary analysis.
Here are a few things you should consider.
· You Lost Money through Deception
First of all, it is your responsibility to establish that you lost your money through deception. When you sign up with online exchanges, you are giving consent to accept profits as well as losses on your trades. In the trading world, when you are new, you are often going to face more losses than the profits you make. In many cases, traders do not understand how the platform or trading works and they think that the exchanges has done something wrong with them. You have to make sure that you did not lose the money through fair trading.
You might have traded an asset that was losing value. You might have made a mistake while entering the trade. So, make sure that you are filing the complaint against a true scam.
· You Signed up with a Regulated Exchange
If you signed up with a regulated exchanges and still faced something deceptive, you might as well get in touch with the regulatory authority. You will always find the regulation information about the exchanges on their websites. They tell you about their regulation and the regulatory authority that regulates them. After knowing the name of the regulating authority, you can land on its website and find out how you can get in touch with them. Send them an email or call them to tell about your issue. They will take action against the exchanges immediately.
· You Lost Enough Money
While even a single dollar that someone takes away from you deceptively needs to be recovered, the real world is not that perfect. When you file a complaint against an online exchanges for taking your money, you have to make sure that the amount you lost was big enough for the lawyers to be interested in your case. If you lost only a few dollars, you might not get much help from anyone. There is no motivation for anyone in such a case. However, if you have lost a lot of money, you should get in touch with lawyers or Money-Back instantly and inform the professionals about your issue. They will work on your case to reach a logical solution as soon as possible.
There are hundreds and thousands of people around the world who got scammed by crypto exchanges recently. In fact, as time passes, you will see more of these cases emerging. Fake crypto exchanges are appearing on the internet every single day. They use psychological tactics to convince people that they are legitimate trading platforms, and new traders who don’t know much about trading fall for them. If you are someone new to trading, you should take every step with utmost care. Do not sign up with unregulated exchanges, and if you already have, you should get in touch with Money-Back as soon as possible.