Lost Money to an Imposter Scam? Here’s How to Get It Back!

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Recover Money From An Imposter Scam

These scammers pretend to be legit figures to make people believe in their lies. They tempt investors by promising them high returns.

Cryptocurrencies like bitcoin have been successful in grabbing the attention of investors across the world. It has become a hub for investors, investing and making a good profit has never been so easy. But as they say “every coin has two sides”, and so does the digital investment world, where the other half is filled with scammers who are a threat to investors.

Many investors, especially beginners who are new to the world of crypto trading, look for a way to make quick money and fall into scams where the scammer exploits the investors at large.

According to the Federal Trade Commission(FTC), cryptocurrency scammers have stolen over $1 billion from 46,000 people since the start of 2021. Most of the losses reported involved fake cryptocurrency investment opportunities, coming out to $575 million.

A crypto recovery service provider, Y3llowl4bs notices; “Scammers usually target new investors who are looking for a quick way to make high returns. These scammers know what the investor is looking for and so they lure them by promising abnormally high returns. The scammer recognizes that the investors trust influential figures so they pose as legit crypto-traders to make them believe and invest.”

What Is An Imposter Scam?

As we dive into cryptocurrency we will see numerous scams that are targeting innocent investors who know little about them. Among those scams, the imposter scam is one of the most effective scams, where the scammer poses as a celebrity, businessman, or a crypto trader to capture the attention of potential targets and convince them to win their trust.

A woman met a scammer on a dating site posing as a crypto trader; he convinced her to invest in cryptocurrency and help her learn how to trade cryptos. At first, her investments seemed to show positive outcomes. But by the time she had figured out that it was a scam, she had already lost nearly $200,000. 

Similar to the above case, another woman was the victim of a scammer whom she met through a dating app. He pretended to be deeply in love with her, showing her dreams of happily ever after. He posed as a crypto trader, promising she would make good money by trading cryptocurrencies like bitcoin. The victim had sent more than $300,000 worth of bitcoin, trusting the words of the fraudster. But once the scammer got the money, he was nowhere to be found. 

Sometimes the scammer even set up phony exchanges by promising them abnormally big returns with no risk. They lure the investors into giving them money, but once an individual pays the scammer, they are nowhere to be found, resulting in a big loss to the investor. 

How To Recognize Such Scams?

Whenever an individual feels something fishy is going on, they should definitely follow their instincts and think twice before getting involved. Here are some common points to help an investor spot such fraud:

  • If someone is saying that an investor will get free money whether in case or cryptocurrency is always fake.
  • If someone is promising an investor big returns regularly in spite of market value with low or no risk is also a red flag.
  • Any organization that lacks paperwork like a license, or registration is also fake.

How To Avoid An Imposter Scam?

Bitcoin recovery expert at Y3llowl4bs says, “ If an individual wants to get into cryptocurrency investments, they should first gather the basic knowledge of how cryptocurrency functions. By doing this they will also get to know about the various scams and be cautious before they invest.”

To avoid such scams one should be very careful when it comes to trusting anything or anyone online. 

  • Do not make quick decisions under someone’s pressure and send money to an unknown person. If someone asks to make a payment via wire transfer, cryptocurrency, or gift card, it is a scam.
  • Scammers bring offers that are too good to be true, promising people big prizes like huge cash, and cars, in exchange for payment upfront. If someone asks for fees to receive a prize, it is a scam.
  • Do not share personal or financial information with an unknown person. Legitimate businesses and organizations will never ask for someone’s personal information through phone calls, emails, or text messages. If they do, it is a scam. 
Where To Report An Imposter Fraud?

What to do when scammed out of money; If an individual loses their money or cryptocurrency in a scam, they can report the fraud to the following:

  • The Federal Trade Commission (FTC).
  • The Securities and Exchange Commission (SEC).
  • The Commodity Futures Trading Commission (CFTC).

They can even seek help from a bitcoin recovery company like Y3llowl4bs. They provide services where they help scammed victims get their money back from the scammers.

How Can A Fund Recovery Company Help?

A fund recovery company like Y3llowl4bs is a team of professionals who help victims get their lost funds back from the scammer. They have been dealing with such scammers for a long time. These individuals put their years of knowledge and experience into the work to bring justice and lost money back to the victim. 

About Y3llowl4bs.com:

Can scam money be recovered?  Y3llowl4bs is committed to providing the most accurate tracing service for victims of online scams. Y3llowl4bs empowers and simplifies the process of tracking down the cyber-criminals and assists in recovering the funds and creating an atmosphere for a negotiated settlement. For more information, please visit https://Y3llowl4bs.com/

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9 Comments

  • LOLO58 August 25, 2023

    hi i have invested in this platform that calls
    these are scam platform sites
    https://fabitz.cc/h5/#/
    https://fabitz.cc/dist/#/
    123@qq.com
    and this is the scam platform email:
    Fabit.online7@gmail.com
    and when I invested with the scam platform and everything was fine and i was delighted and when it was time to withdraw all the funds and they asked me for a lot of commissions and a lot of taxes and it was really a nightmare really and the customer service was very bad and very threatening and from there I realized it was a scam

  • Jeffery Thompson July 25, 2023

    I have recently been made aware of a fraudulent company jennion.com I made purchased 4 tires with them in April and gave ample time for delivery but as of July 20.20223 I still have not received any tires. Nor have I been able to receive any comments from the merchant.

  • Riley July 16, 2023

    Hi there, I purchased a pallet of electronic items off a website and instead of getting 30+ items, only got 2 things. The website was pallets.com. I paid using my VisaDebit Card. The cost was just shy of $2000 in my currency. I have tried to email them a couple of times but it doesn’t work, I get an email from ‘postmaster’ saying it wasn’t delivered. Website stated that shipping would be done from California, and that they had warehouses in Canada, the United States, the United Kingdom, and Australia. So when I got my tracking info and saw that it was coming from China, I started to get worried, so I emailed them, but as I said before, it doesn’t work. Is there any way or anything I can do to get my money back? Also, I’m from New Zealand.

  • Larry Sanders June 23, 2023

    Tried to contact Cetiag.store but can no longer reach their site. Never did recieve my merchandise. They say it has been delivered to the addressee but I HAVE NOT RECIEVED IT. WHAT CAN I DO ?

  • maria mohale March 25, 2023

    Hello. I was trying trading with deck crypto and I started with small money 6000rands and the lady told me that I will get 66000 Rands in seven days. When I was waiting for the money he asked me to put money again for her to trade and I asked her about 66000 Rands and she said that she wants me to get more money. The next minute she asked me to check my email and they were asking for more money because she has made a lot of money for me. They asked for 10 000 Rands and I will get withdrawal. After that she said I must pay tax clearance of 77 650 so that I can get withdrawal. I borrowed people money and I promised them to pay back but I didn’t get withdrawals. When I asked her the following day she said I must check my email maybe the money is late. She lied to me and the email was asking for another money 50000 Rands. Now that I am stuck with credit waiting for the money to be paid. I asked her she told me is for anti laundering clearance. I don’t have that money and I asked her to bring back my money but she kept saying I must borrow money. I am sick my blood pressure is high and headache every day. Please help me to get my money back.

  • Micah January 16, 2023

    I was scammed out of $5000 by a group of hackers who claimed to have found my private keys, and would help me recover my cryptocurrency if I pay them. I was totally in shock when they said they could help me get back my money, but that I would have to pay them $5000 first.

    I tried everything I could think of to get my money back. I called the police, but they told me there’s nothing they can do because it’s not illegal for someone to pretend to be able to recover your stolen crypto and ask for money in return.

    I even tried calling all the exchanges where the coins were supposed to be deposited, but none of them could help me either. They just said they couldn’t verify the transactions because they didn’t know who had made them or where they came from.

    I felt like there was no hope left until a friend recommended Y3llowl4bs!

    • y3llowl4bs January 31, 2023

      We take pride in the quality of our services, and it’s always great to receive positive feedback like yours. Thank you for taking the time to write a review, and we hope to be of service again in the future.

  • Eden January 11, 2023

    I found Y3llowl4bs when I was looking for a way to recover my cryptocurrency that had been stolen from me. I was in a really tough situation, because I didn’t know who to trust and there were so many scams online.

    I did some research and saw that Y3llowl4bs had an excellent reputation for helping people recover their crypto, so I decided to give them a try. The process was quick and easy, and within a few days they had recovered all of my money!

  • Martins J January 10, 2023

    I’m a cryptocurrency enthusiast and I like to invest in different coins. I started trading the new coins, but unfortunately, I lost some of my money because of scammers. I tried to recover my cryptocurrencies back but it was not possible for me. Then a friend of mine suggested me to contact y3llowl4bs, who helped me recover all my stolen cryptocurrencies back within 24 hours. Thanks to y3llowl4bs for their amazing services

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