Ico and ways to recover funds from fake ones immediately
ICO and how people fall for the fake scams is becoming alarming .
Money is a commodity and cannot be created or destroyed, as in general cases.
In addition to various types of waste, people have lost money, including cryptocurrencies.
It is well known that the cryptocurrency market is a very profitable industry.
ICO is the abbreviation of Initial Coin Offerings. This is one of the sources of capital for startups from all over the world, through which they can raise funds for projects.
An investor who wants to contribute to a particular project get’s coins or tokens that connect the contributor with a given startup and its business model.
Many people try to earn money by investing in ICO. But several ICOs are scam and fake and in other cases ICOs could be not successful and unsuccessful.
Clients who invested money in these scam projects can lose all of their money.
While the popularity of Blockchain technology and its potentials can’t be denied, many people started to use it in an attempt to show off how “cool” they are with their money.
With the ICO fever spreading far and wide, there’s also a growth in number of phishing scams.
Scammers have been making money by creating fake ICO websites and stealing money from participants’ wallets. I’m going to explain how to avoid getting scammed.
This is the cause why we are facing a problem right now – there are tons of fake ICO launched by scammers who want your money and put people into panic.
It depends on you whether you’ll be the victim or not.
Because blockchain is a relatively new and unexplored financial phenomenon, there are many questions from individuals who are new to crypto investments.
One of the top concerns among novice investors is how to recover money from a fake ICO.
FAKE ICO AND HOW PEOPLE FALL FOR IT
It is a natural tendency for people to snap at a lucrative offer. The problem arises when people are not trained on how to sift the genuine opportunities from the scams.
What are the most common ways people get scammed by fake ICO during the crypto gold rush? ,the most common scam is when cybercriminals take advantage of cryptocurrency popularity and reputation to make a quick buck.
While this might seem like a victimless crime, in real life it can be an opportunity for people to ruin their finances and even lose their jobs because they were distracted by shiny things.
People fall for scams because of their own greed. I am not saying greed is good or bad. It is just what you make of it.
How we should make use of it comes down to how well we are disciplined and how we train ourselves to do the right things under pressure.
You’ve probably heard of “fake ICOs” before, but you might be skeptical about taking the problem seriously.
The truth is, scammers are using techniques similar to what’s used by banks and other financial institutions to con people out of money—but instead of hacking bank accounts, they’re hacking crypto wallets.
A quarter of all ICOs in 2017 were identified as scams by a study done by Outlier Ventures . This makes sense because as much as $1.3 billion was raised from ICOs in 2017 alone, with many being based on a hype-and-dump cycle.
HOW TO RECOVER FUNDS STOLEN FROM A FAKE ICO
If you have been scammed by a fake ICO, there are still ways to recover your funds. You need to be very careful in how you approach this because if you try to get help from the wrong people, you could make things worse for yourself.
The first thing that you should do is contact law enforcement and tell them what happened. They will advise you on how best to proceed with your case.
If someone has stolen your money from an ICO scam, there are some steps that can be taken to recover your funds.
The first thing that you should do is contact law enforcement and tell them what happened. They will advise on how best to proceed with your case.
If they believe it’s worth investigating they will take over and investigate further, but if they don’t think there’s enough information to support any action, then they will probably pass the case onto another agency who may have more resources available.
Once law enforcement has finished their investigation, if they do find evidence of criminal activity then they will pass this onto a prosecuting attorney who will decide whether or not they want move forward with charges against the perpetrators of the crime or not.
If they do decide to prosecute then they will assign an attorney
However if you try these process and all attempts claim futile , don’t be afraid , we would glad to give a helping hand