How to Recover Stolen Cryptocurrency – “Hire a Hacker” Scams

You’ve lost cryptocurrency to a scam and know it may be possible to recover it, but you also know you can’t do it yourself. In this situation, hiring a professional may sound like a reasonable approach. And who would be a more fitting candidate than an “ethical hacker?” A legitimate, legally operating tracing and recovery company, perhaps.

Hiring a hacker to recover scammed BTC may seem like a good idea and a cheap alternative to hiring a specialist company. The cryptocurrency space is rife with scams, however. And scam victims remain attractive targets for criminals. If you fell for it once, you may be more likely to fall for it again, especially while seeking revenge and justice.

Should You Hire a Hacker to Recover Scammed Crypto?

While theoretically hiring a crypto hacker is possible and may work, in practice, it’s a bad idea for several reasons. Hacking, whether “ethical” or otherwise, is illegal. And hiring a hacker to recover your digital valuables exposes you to further problems. Here’s why:

• Legality. Hacking is illegal. If you choose to hire a hacker, you become an accessory to online criminal activity and may suffer the legal consequences.
• Security. To have your digital assets recovered, you must provide sensitive information to the entity that does the tracing and investigation. When you hire a hacker, instead of trusting this information to a regulated, legally operating third party, you hand it over to an online criminal you don’t know. The result may be further theft, identity theft, and a slew of other scams targeting you.
• Guarantees. Trusting the recovery of your stolen funds to an online criminal carries no guarantees. Even if your hacker can successfully track and recover your funds, he may decide to keep them instead of handing them over to you.
• Scams. People who take part in “hire a hacker online” schemes are often scammers themselves. They have long realized that posing as “ethical hackers” allows them to further victimize the most vulnerable.

Instead of hiring a crypto hacker, report the theft to the appropriate authorities and seek legal and technical advice from regulated and legally operating specialists like CNC Intelligence Inc. CNC Intelligence Inc. is a crypto investigations that can assist law firms and law enforcement with asset recovery. Its specialists can trace cryptocurrency transactions and identify crypto thieves. Most importantly, CNC Intelligence assist law firms and can assist law enforcement agencies in order to prosecute crimes connected with cryptocurrency.

How Do Hire a Hacker Scams Work?

The psychological damage online criminals cause to those from whom they steal crypto is an aspect of online crime we tend to overlook.

Two basic motivations guide all our actions: the fear of loss and the desire for gain. Of these, the fear of loss is considerably stronger. The trauma that loss causes is also far deeper than the shock of missing out on profits.

The victims of crypto theft are often scarred for life. Some react by swearing and seeking justice, their judgment still clouded by trauma.

These people are perfect targets for savvy criminals aware of their vulnerabilities. Here’s how hire-a-hacker scams may unfold:

• Targeting. Cyber crooks have access to online hacking databases and prowl forums and social media looking for someone who has recently experienced a crypto theft.
• Making contact. The criminals then message the victims through social media, email, forum posts, etc. They exploit the deeply-rooted fear and sorrow over loss such victims carry, promising them a solution to their conundrums.
• Promises. The criminals posing as “ethical hackers” may resort to technical jargon to convince their victims that they can hack into the wallets of those who defrauded them and recover their losses.
• Upfront payments. After they convince their victims that they’re able to recover their funds, scammers request an upfront payment.
• Mining for information. To trace and recover assets, investigators need information from the slighted party, including potentially sensitive personal information. Hackers don’t need this information to trace the victim’s assets. They use it for more nefarious purposes.
• Disappearance. Having received the money and information, the “ethical hackers” disappear, never to be heard from again.
• Further scams. The information they provide to the “ethical hackers” makes victims more vulnerable to further scams like identity theft, credit card fraud, etc.

How Do You Recognize Hire a Hacker Online Scams?

If you don’t let the shock of loss and thirst for revenge cloud your judgment, you should be able to spot “hire a hacker “scams. These are some of the red flags that can alert you to the swindle:

• Unsolicited contacts. “Ethical hackers” often peddle their services through unsolicited social media messages, emails, DMs, etc. Be wary of unsolicited contact attempts. If you’re thinking about posting a message in a forum to hire a crypto hacker, forget about it. Opening yourself to scams this way is poor judgment. By doing so, you essentially beg for trouble.
• Extremely attractive prices. Scammers want you to find their services attractive, and they often sweeten the deal by offering you unrealistic prices. Remember the adage: you get what you pay for. This is doubly true for cryptocurrency recovery.
• Urgency and pressure. Scammers often resort to pressure tactics to prevent their victims from thinking through the situation with a cool head. With cryptocurrency recovery, they may claim they need to take immediate action to trace your stolen assets.
• Lack of reviews. Scammers cannot produce legitimate reviews from past clients. Be careful, however. Some will fake hire a hacker reviews and make them look convincing.
• Cryptocurrency payments. If a self-appointed “ethical hacker” asks you to make an upfront payment, consider that a red flag. If the said payment is in cryptocurrency, add another red flag to the tally.

Some other clues that can betray a hire-a-hacker scam are:

• No contracts and documentation
• The hacker requests personal information
• Lack of information about the identity of the hacker
• Guaranteed results

Remember: no one can guarantee results in cryptocurrency recovery. A legitimate, legal recovery effort is a proper criminal investigation that may or may not yield a favorable result. And the resources such an effort requires far exceed the capabilities of solitary “ethical hackers.”

Companies like CNC Intelligence Inc. cooperate with law enforcement, obtain legal subpoenas, and liaise with offshore authorities to obtain the release of the funds.

The Bottom Line

If you want to know how to recover stolen cryptocurrency, talk to the authorities, law enforcement, and specialized companies like CNC Intelligence Inc.

• “Ethical hackers” don’t have the resources to help you.
• Hacking is illegal, as is hiring a hacker.
• When you deal with hackers, you’re likely to get scammed again.
• Hire-a-hacker scams can cause further problems like identity theft, bank fraud, etc.
• If you are a scam victim, be aware that hire-a-hacker scammers are more likely to target you.
• Learn to recognize hire-a-hacker scams and steer clear of them.

Don’t worry about how to hire a hacker to recover scammed crypto. Take a step back and listen to your instincts. Go for a legitimate asset recovery option instead such as contacting your local or federal law enforcement to report the crime.

We offer complimentary consultations to determine if our Asset Tracing, Recovery Assistance, and Intelligence Services suit your case.

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