UK resident got scammed to send money to an Australian bank account. What I did and what to do next?
Hello, I live in England and this is a long post about how I got scammed, presenting my story and asking for advice. Much appreciated to all who go through all of it and send their ideas. Also posted in AusLegal here: https://www.reddit.com/AusLegal/comments/iujgpq/uk_resident_got_scammed_to_send_money_to_an/ So I met a person online, and after chatting a bit she started showing me her gold trading profits. At first I didn't care that much, but she kept showing me profits and I said I wish I knew how to trade like that. She puts me in contact with this person, who is supposed to teach me how to trade. This teacher tells me that I will start with simulated gold trading, and after some time I would move on to real trading. After a couple of days of trading she says I'm ready to trade for real, I say I need more time to do simulated trading. We do another day of simulated trading and she says I'm ready and I should start trading with real money. Hindsight is 20/20, I can't believe what I was thinking. But I did do some checks on these people, like I aske them for pictures of themselves and I google image searched them. No results, not stock images, so I'm like, okay, a good sign. I ask the first person to have a phone call to talk, we do. Okay, fair enough. I ask the first person to send me the link to her design company that she said she owns, and she sends it over. Site is in Chinese but it's filled with a lot of images of homebuilding and some English sentences about home design. I ask her for more photos and it seems okay. I do the same with the "teacher". Google image search, no stock images, no results. I google the platform she's asking me to open an account on, can't find anything about it saying it's a scam. The reviews for the iphone app are mostly 4-5 stars, with people in the reviews complaining that the previous version of the app was better. So after all this, on the 11th of September I transfer the minimum needed to start investing, USD 10,000. I do this by using Transferwise, so I transfer the money in UK pounds to Transferwise (I live in the UK), the money is converted by Transferwise to USD and is send to the scammer's account to an Australian bank on Friday evening. I sleep on it, and next day morning I start panicking, I think my instincts started kicking in, and I do some more research online and I found something similar, not exactly the same scam, but something similar where you meet somebody online, start talking, some people even met with these people, and then they say can teach you or know somebody that can teach you to trade (gold, bitcoin, forex, etc). At that point I really panicked and I realised I got scammed. I try to reach Transferwise, but since it was Saturday, you could only reach them by email, couldn't even call them. I call the bank in Australia, I tell them what happened, I was scammed and the scammers account is with them and I give them the details of the bank account and everything. So literally after a few hours of the money leaving Trasnferwise I contacted the receiving bank. They told me they will pass it on to the Financial Crime team and look into it. I file a report with Action Fraud in the UK, I sent the report number to my bank, to the Australian bank and to Transferwise, but to Transferwise only on Monday when I can contact them again. I search online for some advice, and everybody thinks the best solution is to keep contacting the receiving bank as they could block the account, or the transaction and it could bounce back to Transferwise so I keep doing that. The receiving bank in Australia tells me to contact Transferwise and have them raise a fraud report and to get in contact with the Australian bank. After numerouse calls with Transferwise asking them to contact the receiving bank where I was told there's nothing they can do after the money has left Transferwise, I resort to calling the bank in Australia again. By this point I raised a cyber fraud report with the Australian police as well and sent the report number to the Australian bank. I ask the bank in Australia what is there to do, if they will deny the transfer or do something so that money does not leave the Australian bank account, and they said the Financial Crime team is looking into it, but I could also ask Transferwise to raise a recall request and to contact them, but I say I already did but Transferwise keeps telling me they can't do that. The person from the Australian bank tells me it seems like Transferwise is giving me wrong information. So I decide to call Transferwise again. I reach out to somebody, and they explain it still cannot be done. I'm almost begging them to do it, but they say it cannot be done. I start searching online of any events with TW and recall requests, and I found something where it said Transferwise doesn't want to do it because there's slim chance of getting the money back so they tell customers it cannot be done. I call Transferwise again and push and complain that I think they're just telling me they can't do it just to get rid of me and the person I'm talking to this time says it can actually be done and she'll do that request for me, and she apologises for her colleagues telling me the wrong information previously. I call the Australian bank again to let them know that Transferwise said they will do the recall and if there is anything I can do. They tell me best thing is for me to keep talking to Transferwise, as the Australian bank has done everything it can. Now, Transferwise shows you an estimation in days of how long a transfer will take. I did the transfer on Friday the 11th, and Transferwise estimated that the transfer would be completed by the 16th at 9:30 pm UK time. So doing all this I had some hope that something can happen. Mind you, I called the receiving bank a few hours after the transfer was done by Transferwise, and by their estimate had around 4-5 days until the transfer was complete. I feel like I wasted precious time because Transferwise was not helpful at all, from the start when I raised the scam with them telling me there's nothing they can do, to the moment I had to make around 5 calls just to get them to do the recall request. The 16th passes, the transfer appears complete in Transferwise and I get a message from the scammer that the funds have arrived and I can start trading. I didn't block them because I didn't want to freak them out and withdraw the money immediately it hits their account. I posted my long story here to see if there is something I can do. I had hopes that the Australian bank would block the withdrawal and it would bounce back, or they would block the scammer's account and my money would not be withdrawn and the recall would go through. I also have some hopes that based on what the scammer said today, the money is still in the Australian bank account. I feel like I acted pretty promptly after I realised I got scammed. Contacted the receiving bank, my bank, Transferwise and the authorities both in the UK and Australia. I don't know what else I could have done to get a more positive outcome, but now I'm asking you, the people of this subreddit, is there anything else I can do? Is there a chance the money is still in the scammer's account and the Australian bank has blocked it? Do you guys think Transferwise didn't treat me properly by dismissing me off the bat, and only helping me with the recall request after around 10 calls and pushing? Any advice would be much appreciated. I know I was foolish, I should have trusted my instincts, but I feel I also took some verification steps that I knew from the internet and I contacted every instituion asap after I realised I was scammed, so a few hours after sending the money. TL;DR I got scammed into sending money to an Australian bank account from the UK. What can I do now?
[Secret] Response to the Oil Embargo Part 2: Retaliation, Covert and Chaotic
While overt operations will play a role in the retaliation, some more covert ones are needed. For these more... illegal... operations, we will have to take a different approach. North Korea: Cyberwar, Inc. North Korea has a well-established cyberwar capability and has recently begun selling its services to third parties. One of those third parties is about to become us, and we're going to buy out the entire shop, consisting of thousands of highly trained North Korean hackers. Are they the best, no, of course not--they are, after all, still North Korean. They certainly aren't as good as what we have in-house, even though they're surprisingly skilled all things considered. But they're extra talent, and talent with no official connections to China, and that's what counts here. At whatever exorbitant price that North Korea charges [we've budgeted up to $500 million, and they will get to keep whatever they steal] we're siccing every trained hacker they have on what we view as the mastermind behind these plots, the United Arab Emirates [M: Even though we don't know the contents of the closed diplo, it's not hard to come to that conclusion given that Saudi Arabia is in a civil war, the UAE leads the GCC which is leading the embargo, and it has rejected our peace offerings and stated that we are an existential threat--also, assaulting the UAE is likely to spook the other participants who are in a much more frail situation]. Attacks will aim to be diverse and encompass the entire spectrum, with one exception, which we will do. Chinese experts will provide advice and limited intelligence and cyber-reconnaissance, but will not openly involve themselves in the operations, taking especial care to ensure that they don't touch the code the North Koreans are working on. We will maintain only a very high-level management, leaving precise means, targets, and so on to the North Koreans. In addition, we'll ask the North Koreans to recruit criminal hacker groups across the globe to join on to this effort, with the North Koreans receiving additional payouts for every other criminal hacking group they bring onboard that has been verified by Chinese intelligence as actually existing [we don't trust the North Koreans that much, especially when money is on the line]. Targets are the following, in order of priority: UAE Foreign Exchange Reserves and Sovereign Wealth Fund: By far the most valuable target on the list for North Korea, the UAE's forex reserves are worth about $100 billion, and the sovereign wealth funds of the Emirates are valued at as much as $1 trillion. North Korean hackers will launch an all-out assault aiming to steal as much of this money as possible, destroying it if they must but, we imagine, preferably transferring it to North Korean accounts. Attacks via SWIFT like those conducted by North Korea in 2015-16 are possible--those attacks amounted to hundreds of millions of dollars in losses. We doubt that North Korea will be able to steal that much of this pile, especially given the fact that the UAE has an army of ex-Western cyberwarriors of its own, but even a relatively small quantity would be a significant psychological injury and would degrade global trust in the UAE. Vital Infrastructure: North Korea will target key pieces of infrastructure in the UAE. In particular, they will target the following facilities and attempt to force them offline. Even though the individual attacks won't do much damage, the cumulative impact will scare the public, damage investor confidence, and drive money out of the UAE.
Dubai International Airport
All 8 desalination plants, the only source of potable water in the UAE [top target]
Dubai Metro
UAE High-speed rail [as this system uses Chinese software the North Koreans will happen to find a copy of the source code to work this one over]
Barakah Nuclear Power Plant [as this system uses South Korean software North Korea may have added experience with it]
Ruwais Refinery, capacity 400,000 barrels of oil per day, the largest in the UAE
Influential Figures And Government Officials: North Korean hackers will also target the personal devices of government officials and influential figures in the UAE, especially politicians, military commanders, and media types. They will then leak anything remotely incriminating to the global media, possibly via Wikileaks or another such site of ill repute. In addition, for particularly important government officials, North Korea will be commissioned to produce deepfakes with which it will flood social media. These will mostly focus on baseless conspiracy theories and personal slanders, for instance, catching a top official on mike confessing to being a devil-worshiper, or portraying a popular imam as being with Western prostitutes. It is hoped that these operations will cause enough domestic trouble in the UAE that they will concede on the point of the oil embargo. If nothing else, though, they should keep the UAE distracted while we move elsewhere.
Ways to Get Your Stolen Bitcoin or Lost Crypto Back
This piece of article shows the reader about the latest techniques on how to get possibly stolen crypto money back – find out what’s been happening in the business of virtual cash transactions. You can also read on how to recover stolen bitcoin cryptocurrency and money lost to binary options forex investment scam. Most people that use the Internet can attest to the fact that they have heard of crypto-currencies or crypto wallets. Most will not understand exactly how it works but a size-able amount of people have begun to adopt these new trends – it would be that they know it from online purchases or even from online betting like at Navolin-Gratise games or numerous gambling platforms on the World Wide Web. A complete knowledge about a system is not a prerequisite to joining the crypto-exchange craze. Most of the transactions involved in the world of crypto-currencies is made easy for any user who knows how to navigate a cell phone app. This ease in transacting unfortunately also causes complacency amongst many users, who more often than not, forget that the Internet is a wilderness and their devices are a portal into that wilderness. Recovering Stolen Bitcoin; How Cryptocurrency gets Lost When buying a crypto currency or receiving funds through crypto mining, you receive a private key and a public key. To state it simply, a private key allows you and only you to be able to access your account. No bank or service provider will know or have the ability to know the key. It is therefore absolutely imperative that the holder of the key be responsible for the security of that key. Unfortunately it does happen that people’s private keys get stolen, in which case the thief is then able to send money out of the victim’s wallet. Due to the fact that crypto currencies transcend geographical borders, little or no regulation exists to monitor crime related to the crypto market. So many people who have been victims of crypto theft have been left with very little avenue to report their cases. According to P. Koskuwski, the CEO of blockchain, an investigative firm Koinfirma is quoted as stating that stolen crypto to date amounts to roughly $10 billion. According to their website, Koinfirma has entered into a partnership with Kroll, an intelligence-, investigations- and advisory services firm that is known for its presence in the global security industry. Best Way to Recover Lost or Stolen Bitcoin Cryptocurrency FundsRecovery247.com, which is a well known and one of the best asset recovery firm, has extensive experience in the cyber risk space and is trusted by well established companies and governments around the world. Combining that strength will the Koinfirma’s regulatory technology, we now have a new hope in recovering our stolen crypto. Because cryptos are generally made so that transactions can be traced, Koinfirma’s initiative with FundsRecovery247, which has been dubbed ‘CryptoRecovery’, seeks to trace the movement of stolen funds and track them as they are moved. Hopefully if the thief is identified and located, measures are taken to recover the lost or stolen bitcoin cryptocurrency. The process of recovery of the funds begins with you sending your email address and the amount to be claimed. Once your case has been approved, you are then quoted and all you now need to do is wait. It’s a comforting fact that Reclaim Crypto gets a piece of the reclaimed funds because it suggests that you will not be the only person hoping for the return of your crypto. Recovering your lost or stolen bitcoin cryptocurrency is very simple, just contact Funds Recovery 247 – [email protected].
UK resident got scammed to send money to an Australian bank account. What I did and what to do next?
Hello, I live in England and this is a long post about how I got scammed, presenting my story and asking for advice. Much appreciated to all who go through all of it and send their ideas. Also posted in personalfinance here: https://www.reddit.com/personalfinance/comments/iuja16/uk_resident_got_scammed_what_i_did_and_what_to_do/ So I met a person online, and after chatting a bit she started showing me her gold trading profits. At first I didn't care that much, but she kept showing me profits and I said I wish I knew how to trade like that. She puts me in contact with this person, who is supposed to teach me how to trade. This teacher tells me that I will start with simulated gold trading, and after some time I would move on to real trading. After a couple of days of trading she says I'm ready to trade for real, I say I need more time to do simulated trading. We do another day of simulated trading and she says I'm ready and I should start trading with real money. Hindsight is 20/20, I can't believe what I was thinking. But I did do some checks on these people, like I aske them for pictures of themselves and I google image searched them. No results, not stock images, so I'm like, okay, a good sign. I ask the first person to have a phone call to talk, we do. Okay, fair enough. I ask the first person to send me the link to her design company that she said she owns, and she sends it over. Site is in Chinese but it's filled with a lot of images of homebuilding and some English sentences about home design. I ask her for more photos and it seems okay. I do the same with the "teacher". Google image search, no stock images, no results. I google the platform she's asking me to open an account on, can't find anything about it saying it's a scam. The reviews for the iphone app are mostly 4-5 stars, with people in the reviews complaining that the previous version of the app was better. So after all this, on the 11th of September I transfer the minimum needed to start investing, USD 10,000. I do this by using Transferwise, so I transfer the money in UK pounds to Transferwise (I live in the UK), the money is converted by Transferwise to USD and is send to the scammer's account to an Australian bank on Friday evening. I sleep on it, and next day morning I start panicking, I think my instincts started kicking in, and I do some more research online and I found something similar, not exactly the same scam, but something similar where you meet somebody online, start talking, some people even met with these people, and then they say can teach you or know somebody that can teach you to trade (gold, bitcoin, forex, etc). At that point I really panicked and I realised I got scammed. I try to reach Transferwise, but since it was Saturday, you could only reach them by email, couldn't even call them. I call the bank in Australia, I tell them what happened, I was scammed and the scammers account is with them and I give them the details of the bank account and everything. So literally after a few hours of the money leaving Trasnferwise I contacted the receiving bank. They told me they will pass it on to the Financial Crime team and look into it. I file a report with Action Fraud in the UK, I sent the report number to my bank, to the Australian bank and to Transferwise, but to Transferwise only on Monday when I can contact them again. I search online for some advice, and everybody thinks the best solution is to keep contacting the receiving bank as they could block the account, or the transaction and it could bounce back to Transferwise so I keep doing that. The receiving bank in Australia tells me to contact Transferwise and have them raise a fraud report and to get in contact with the Australian bank. After numerouse calls with Transferwise asking them to contact the receiving bank where I was told there's nothing they can do after the money has left Transferwise, I resort to calling the bank in Australia again. By this point I raised a cyber fraud report with the Australian police as well and sent the report number to the Australian bank. I ask the bank in Australia what is there to do, if they will deny the transfer or do something so that money does not leave the Australian bank account, and they said the Financial Crime team is looking into it, but I could also ask Transferwise to raise a recall request and to contact them, but I say I already did but Transferwise keeps telling me they can't do that. The person from the Australian bank tells me it seems like Transferwise is giving me wrong information. So I decide to call Transferwise again. I reach out to somebody, and they explain it still cannot be done. I'm almost begging them to do it, but they say it cannot be done. I start searching online of any events with TW and recall requests, and I found something where it said Transferwise doesn't want to do it because there's slim chance of getting the money back so they tell customers it cannot be done. I call Transferwise again and push and complain that I think they're just telling me they can't do it just to get rid of me and the person I'm talking to this time says it can actually be done and she'll do that request for me, and she apologises for her colleagues telling me the wrong information previously. I call the Australian bank again to let them know that Transferwise said they will do the recall and if there is anything I can do. They tell me best thing is for me to keep talking to Transferwise, as the Australian bank has done everything it can. Now, Transferwise shows you an estimation in days of how long a transfer will take. I did the transfer on Friday the 11th, and Transferwise estimated that the transfer would be completed by the 16th at 9:30 pm UK time. So doing all this I had some hope that something can happen. Mind you, I called the receiving bank a few hours after the transfer was done by Transferwise, and by their estimate had around 4-5 days until the transfer was complete. I feel like I wasted precious time because Transferwise was not helpful at all, from the start when I raised the scam with them telling me there's nothing they can do, to the moment I had to make around 5 calls just to get them to do the recall request. The 16th passes, the transfer appears complete in Transferwise and I get a message from the scammer that the funds have arrived and I can start trading. I didn't block them because I didn't want to freak them out and withdraw the money immediately it hits their account. I posted my long story here to see if there is something I can do. I had hopes that the Australian bank would block the withdrawal and it would bounce back, or they would block the scammer's account and my money would not be withdrawn and the recall would go through. I also have some hopes that based on what the scammer said today, the money is still in the Australian bank account. I feel like I acted pretty promptly after I realised I got scammed. Contacted the receiving bank, my bank, Transferwise and the authorities both in the UK and Australia. I don't know what else I could have done to get a more positive outcome, but now I'm asking you, the people of this subreddit, is there anything else I can do? Is there a chance the money is still in the scammer's account and the Australian bank has blocked it? Do you guys think Transferwise didn't treat me properly by dismissing me off the bat, and only helping me with the recall request after around 10 calls and pushing? Any advice would be much appreciated. I know I was foolish, I should have trusted my instincts, but I feel I also took some verification steps that I knew from the internet and I contacted every instituion asap after I realised I was scammed, so a few hours after sending the money. TL;DR I got scammed into sending money to an Australian bank account from the UK. What can I do now?
UK resident got scammed. What I did and what to do next?
Hello, I live in England and this is a long post about how I got scammed, presenting my story and asking for advice. Much appreciated to all who go through all of it and send their ideas. Also posted in personalfinance here: https://www.reddit.com/personalfinance/comments/iuja16/uk_resident_got_scammed_what_i_did_and_what_to_do/ So I met a person online, and after chatting a bit she started showing me her gold trading profits. At first I didn't care that much, but she kept showing me profits and I said I wish I knew how to trade like that. She puts me in contact with this person, who is supposed to teach me how to trade. This teacher tells me that I will start with simulated gold trading, and after some time I would move on to real trading. After a couple of days of trading she says I'm ready to trade for real, I say I need more time to do simulated trading. We do another day of simulated trading and she says I'm ready and I should start trading with real money. Hindsight is 20/20, I can't believe what I was thinking. But I did do some checks on these people, like I asked them for pictures of themselves and I google image searched them. No results, not stock images, so I'm like, okay, a good sign. I ask the first person to have a phone call to talk, we do. Okay, fair enough. I ask the first person to send me the link to her design company that she said she owns, and she sends it over. Site is in Chinese but it's filled with a lot of images of homebuilding and some English sentences about home design. I ask her for more photos and it seems okay. I do the same with the "teacher". Google image search, no stock images, no results. I google the platform she's asking me to open an account on, can't find anything about it saying it's a scam. The reviews for the iphone app are mostly 4-5 stars, with people in the reviews complaining that the previous version of the app was better. So after all this, on the 11th of September I transfer the minimum needed to start investing, USD 10,000. I do this by using Transferwise, so I transfer the money in UK pounds to Transferwise (I live in the UK), the money is converted by Transferwise to USD and is send to the scammer's account to an Australian bank on Friday evening. I sleep on it, and next day morning I start panicking, I think my instincts started kicking in, and I do some more research online and I found something similar, not exactly the same scam, but something similar where you meet somebody online, start talking, some people even met with these people, and then they say can teach you or know somebody that can teach you to trade (gold, bitcoin, forex, etc). At that point I really panicked and I realised I got scammed. I try to reach Transferwise, but since it was Saturday, you could only reach them by email, couldn't even call them. I call the bank in Australia, I tell them what happened, I was scammed and the scammers account is with them and I give them the details of the bank account and everything. So literally after a few hours of the money leaving Trasnferwise I contacted the receiving bank. They told me they will pass it on to the Financial Crime team and look into it. I file a report with Action Fraud in the UK, I sent the report number to my bank, to the Australian bank and to Transferwise, but to Transferwise only on Monday when I can contact them again. I search online for some advice, and everybody thinks the best solution is to keep contacting the receiving bank as they could block the account, or the transaction and it could bounce back to Transferwise so I keep doing that. The receiving bank in Australia tells me to contact Transferwise and have them raise a fraud report and to get in contact with the Australian bank. After numerouse calls with Transferwise asking them to contact the receiving bank where I was told there's nothing they can do after the money has left Transferwise, I resort to calling the bank in Australia again. By this point I raised a cyber fraud report with the Australian police as well and sent the report number to the Australian bank. I ask the bank in Australia what is there to do, if they will deny the transfer or do something so that money does not leave the Australian bank account, and they said the Financial Crime team is looking into it, but I could also ask Transferwise to raise a recall request and to contact them, but I say I already did but Transferwise keeps telling me they can't do that. The person from the Australian bank tells me it seems like Transferwise is giving me wrong information. So I decide to call Transferwise again. I reach out to somebody, and they explain it still cannot be done. I'm almost begging them to do it, but they say it cannot be done. I start searching online of any events with TW and recall requests, and I found something where it said Transferwise doesn't want to do it because there's slim chance of getting the money back so they tell customers it cannot be done. I call Transferwise again and push and complain that I think they're just telling me they can't do it just to get rid of me and the person I'm talking to this time says it can actually be done and she'll do that request for me, and she apologises for her colleagues telling me the wrong information previously. I call the Australian bank again to let them know that Transferwise said they will do the recall and if there is anything I can do. They tell me best thing is for me to keep talking to Transferwise, as the Australian bank has done everything it can. Now, Transferwise shows you an estimation in days of how long a transfer will take. I did the transfer on Friday the 11th, and Transferwise estimated that the transfer would be completed by the 16th at 9:30 pm UK time. So doing all this I had some hope that something can happen. Mind you, I called the receiving bank a few hours after the transfer was done by Transferwise, and by their estimate had around 4-5 days until the transfer was complete. I feel like I wasted precious time because Transferwise was not helpful at all, from the start when I raised the scam with them telling me there's nothing they can do, to the moment I had to make around 5 calls just to get them to do the recall request. The 16th passes, the transfer appears complete in Transferwise and I get a message from the scammer that the funds have arrived and I can start trading. I didn't block them because I didn't want to freak them out and withdraw the money immediately it hits their account. I posted my long story here to see if there is something I can do. I had hopes that the Australian bank would block the withdrawal and it would bounce back, or they would block the scammer's account and my money would not be withdrawn and the recall would go through. I also have some hopes that based on what the scammer said today, the money is still in the Australian bank account. I feel like I acted pretty promptly after I realised I got scammed. Contacted the receiving bank, my bank, Transferwise and the authorities both in the UK and Australia. I don't know what else I could have done to get a more positive outcome, but now I'm asking you, the people of this subreddit, is there anything else I can do? Is there a chance the money is still in the scammer's account and the Australian bank has blocked it? Do you guys think Transferwise didn't treat me properly by dismissing me off the bat, and only helping me with the recall request after around 10 calls and pushing? Any advice would be much appreciated. I know I was foolish, I should have trusted my instincts, but I feel I also took some verification steps that I knew from the internet and I contacted every instituion asap after I realised I was scammed, so a few hours after sending the money. TL;DR I got scammed into sending money to an Australian bank account from the UK. What can I do now?
Recover Stolen Crypto - How to Recover Scammed Bitcoin
“Let me start by sharing my first loss was with bitcoin and cryptocurrency in general. It happened when the exchange closed with our funds. I didn’t even try to contact anyone or alert any authority.” The good news however is that people who have lost bitcoin, other crypto and any other kind of assets can now recover all they have lost bitcoin and crypto. All you have to do is send an email to [email protected] to recover all lost or stolen bitcoin and crypto. These are the words of an intrepid crypto investor – one of many who responded to a tweet asking about the lack of recourse people face when their assets are stolen in a hack, exit scam or Ponzi scheme. There’s as much as $10 billion in stolen crypto out there in the market, according to Pawel Kuskowski, CEO of blockchain sleuthing firm Coinfirm. And he wants to give victims a fighting chance at getting their funds back. Exclusively revealed to Reddit, Coinfirm has teamed up with global investigations firm Kroll, a division of consulting firm Doff & Phelp. The joint initiative being launched is called ReclaimCrypto, and combines the latest blockchain forensic techniques with the more established world of legal investigation and asset recovery. Kuskowski told Reddit:
“So far, there is no one place where victims can go and get help. It’s almost like they are pleading to get someone interested in their case. In the end, they have to work it out themselves; see about getting a lawyer, perhaps in some other jurisdiction.”
Figures on what is recoverable vary. For instance, CipherTrace, another analytics firm recently said some $4 billion in crypto has been lost this year. Kuskowski’s estimate includes historic (and as yet unresolved) events like Mt Gox, which in today’s money would account for about $1 billion. Needless to say, Kuskowski and his team are not doing this only for the good of mankind – there are success fees levied on a case-by-case basis, he told CoinDesk, adding: “Doing the market analysis for this product, we started by calculating the kind of top cases, where we know we could be successful and recover funds, which was about 200 cases.” Those cases alone account for roughly $1.5 billion, Kuskowski added. FundsRecovery247.com will Help Recover Your Lost or Stolen Crypto Coinfirm’s bread and butter is anti-money laundering (AML) within crypto networks, done by analyzing the history of transactions using various smarts and big-data analytics. Similar to the likes of Chainalysis and Elliptic, it works with 50 or so exchanges and has built up a large database in this area. Coinfirm’s partner, Kroll, takes a more “traditional” approach, which might involve producing court orders to get an internet service provider to reveal details about an IP address, or using former FBI and CIA operatives to scour the dark web for activity involving stolen funds. It should be pointed out that Kroll is not new to crypto: The firm worked with the U.S. Securities and Exchange Commission (SEC) last year in relation to fraudulent coin offerings. Kroll also tells CoinDesk it helped track down the perpetrators in Europe of $27.8 million bitcoin theft. If loss victims so choose, Kroll can potentially line up third-party litigation funding. This means firms that provide specialized finance to the legal market, such as Burford Capital or Therium, will shoulder the cost of people’s litigation. For this, they take about 30 percent of the recovered funds and return the rest to the victims. Benedict Hamilton, a managing director at Kroll, told CoinDesk:
“From a victim’s point of view, where the police have failed to recover that money, they are not having to spend anything to get something. And no one recovers funds on their behalf without their permission. It makes the whole economics of recovering stolen funds very different – which is very exciting.”
Referring to Coinfirm as “a torch shining on the blockchain,” Hamilton said this can be extended by Kroll into the murky depths of the dark web. Kroll Cyber runs a specialist darkweb unit out of Pittsburgh, Pa., which is overseen by Keith Wojcieszek, the former head of the criminal investigations unit of the U.S. Secret Service’s cyber division. This operation crunches petabytes of dark web data from peer-to-peer sites, said Hamilton, adding: “With the ReclaimCrypto initiative in mind we have have been able to repurpose it so we can go into that database with a wallet string and look for any identifiers that are associated with that wallet name – perhaps a conversation over the selling of stolen credit cards or someone offering criminal services and providing that wallet as an address.” Follow the moneyHamilton explained that there are two paths that can be followed when it comes to a crypto investigation: figure out who did it or follow the money. ReclaimCrypto’s objective here is asset recovery, first and foremost, since that’s what the client is paying for. But ultimately both paths lead to the same place, said Hamilton, adding:
“It is inconceivable that the investigative process would finish without us giving all the details to relevant law enforcement for them then to get the benefit of the work and lock the thieves up.”
The majority of ReclaimCrypto’s focus will be on bitcoin and ether, but will also cover XRP, BCH, LTC, NEO and DASH. As for those who’ve had coins pilfered, some remain philosophical about it. “That’s life,” said the aforementioned investor, adding:
“It made me grow a lot and it’s part of my adventure in crypto.”
5 Ways to Recover Your Stolen or Lost Crypto Cryptocurrency is generally considered to be secure, but sometimes things do happen. Even top traders have had cryptoassets lost or stolen and, until quite recently, it seemed like there was very little one could actually do about it. Thankfully, there are ways to get your cryptocurrency back. We’ll be looking at the best ways to recover your lost or stolen crypto, and how to avoid going through something so traumatic in the first place! Act as quickly as possible Benjamin Sauter, a partner at Kobre & Kim, a law and an expert in crypto theft cases, told Decrypt, “The quicker you can act, the better,”. The longer you wait to start tracing your crypto, the more time you give thieves to transfer your assets to cold storage, send them to sketchy exchanges, or to tumblers to mix them up. “The more sophisticated you are, and the less sophisticated the thieves are at laundering the assets, the better chance you have,” Sauter continued. Legality For the legal system to actually work in your favour, you’ll likely need to know who stole your cryptocurrency. While you may be able to freeze funds against a John Doe, it’ll be challenging. According to Marc Jones, a partner at Stewarts Law in the UK, “In general, to enforce an order requiring fraudsters to pay damages or handover stolen property, ultimately you’ll need to know who they are.” Thankfully, one of the many benefits of cryptocurrency is that you can see where the coins have gone. If they go through an exchange, you’ll most likely be able to find out who the wallet holder is thanks to the KYC process. From there, you can get a court order to reveal the thief’s identity and recover your stolen crypto. Recovering lost crypto from a cold wallet Cold wallets are offline wallets that are designed for storing cryptocurrencies. With cold storage, the digital wallet is stored on a platform without internet connectivity. This protects the wallet from cyber hacks, unauthorized access, and other vulnerabilities that could be exploited if they were connected to the internet. There are a number of different ways that you can recover from cold wallets:
Encrypted Devices: Encrypted phones and laptops work like cold wallets, so that you can safely store and access your private key information. Like cold wallets, you can retrieve lost information through professional help.
Paper Wallets: If you have a paper wallet, consider storing it in a vault or safety deposit box. That way, you’ll literally have a physical backup of your key information.
Pen Drives/Hard Drives: While this is a very secure way to store your coins, retrieving your data from them should they be damaged or corrupted is a timely and expensive process.
Recover Your Stolen or Lost Bitcoin Crypto with FundsRecovery247 Coinfirm is teaming up with global investigations firm Kroll, to launch a joint initiative called CryptoRecovery. CryptoRecovery combines the latest blockchain forensic techniques with the world of legal investigation and asset recovery. Pawel Kuskowski, CEO of Coinfirm told Coindesk: “So far, there is no one place where victims can go and get help. It’s almost like they are pleading to get someone interested in their case. In the end, they have to work it out themselves; see about getting a lawyer, perhaps in some other jurisdictions.” CryptoRecovery aims to help in the recovery of stolen cryptocurrency. You can submit an initial form with the data about your stolen coins, and CryptoRecovery will do an assessment. You’ll only be charged a success fee on the crypto they recover for you, not for the initial assessment! Have you lost bitcoin, crypto or any other digital asset and need to get it back? Send an email to - [email protected]
【U.S. Election 2020】Trump or Biden: Who's tougher on China?
Photo:Internet As the pandemic has spread around the world this year, new rhetoric about being "tough" on China has unfurled throughout the political conversation in the United States. Trump VS. Biden: Attitudes to China Biden and his campaign have spoken in broad strokes without offering details about exactly how far he would be willing to confront China on trade, human rights, cyber-espionage, or its growing presence in the South China Sea. Biden also says that he would shore up U.S. alliances, which he says Trump has badly damaged, to present a united front against Beijing and that he would invest in high-tech research and education to make the U.S. economy more competitive. Biden only mentioned China once in his speech on Aug. 20th. In comparison, Trump mentioned China many times in his speech on Aug. 27th. During his speech, President Donald Trump claimed that he has "very good information" that China wants Biden to win because Biden cheers for China. In fact, Trump enjoyed good relations with China leader Xi Jinping early in his administration while the two leaders engaged in major trade talks, and later, after the coronavirus began to spread, Trump praised Xi for his handling of the crisis. Once the relationship soured, and Trump began blaming China for U.S. public health and economic woes. "Joe Biden's agenda is made in China. My agenda is made in the USA," Trump said. Photo: Reuters Trump or Biden? China expects no favours either way Decoupling This word gets used a lot these days. President Trump and his administration talk about it in tweets and in press statements in relation to China. Decoupling basically means undoing more than three decades' worth of U.S. business relations with China. Everything is on the cards: from getting American factories to pull their supply chains out of the mainland, to forcing Chinese-owned companies that operate in the U.S. - like TikTok and Tencent - to swap their Chinese owners for American ones. Make no mistake, under a Trump administration "decoupling will be accelerated", according to Solomon Yue, vice chairman and chief executive of the Republicans Overseas lobby group. While the U.S. has had some success in forcing American companies to stop doing business with Chinese tech giants like Huawei, it is pushing Chinese firms to develop self-sufficiency in some key industries, like chip-making and artificial intelligence. Delisting As part of its focus on China, the Trump administration has come up with a set of recommendations for Chinese firms listed in the U.S., setting a January 2022 deadline to comply with new rules on auditing. While a Biden administration may not necessarily push through with the exact same ban, analysts say the scrutiny and tone of these recommendations is likely to stay. While fears of being delisted aren't high on the list of concerns for Chinese companies that are already listed in the U.S., it's enough to sway the decisions of companies that are looking to float in the future. Take Ant Group, for example, the mammoth Chinese digital financial services group that this week filed for an IPO. Affiliated to the Alibaba Group, which is listed in the U.S. and Hong Kong, it chose Hong Kong and Shanghai in which to sell its shares instead of the U.S. Increasingly other Chinese companies are likely to follow suit, as tensions between the U.S. and China get worse. Deglobalisation China has been one of the biggest beneficiaries of globalisation over the last 30 years. It has helped hundreds of millions of Chinese afford a better quality and standard of life, the bedrock upon which President Xi Jinping's Chinese Dream is based. But that's precisely what President Trump says needs to change: his administration argues that China has become richer while the U.S. has become poorer. During Mr. Trump's term, deglobalisation - where borders are less open, and trade is less free - has become a trend. And it's something that Beijing knows won't change even after the election. Regardless of whether Biden or Trump is elected president, US-China relations Relations have a great impact on financial markets. The global market is anxiously awaiting the end of this election. https://preview.redd.it/n1bgv6csd1n51.png?width=686&format=png&auto=webp&s=5d90f790a9631a69d1e2c121d33bf5eb20fe33c2 https://preview.redd.it/tgns8zhtd1n51.png?width=686&format=png&auto=webp&s=9b3a66ae41cf1e94d6610e97d96a5dc61eb472c0 For more information please download “TOP 1 Markets” at APP store or google play. https://play.google.com/store/apps/details?id=com.top1.trading.forex.commodity.cryptocurrency.indices top1markets： https://itunes.apple.com/my/app/id1461741702 top one： https://itunes.apple.com/tw/app/id1506200136
Weekly Update: $GHOST on ParJar, XIO Labs, SelfKey Loan Marketplace, $GET on Uniswap…– 19 Jun – 25 Jun'20
Hi Parachuters! With this, we come to the last part of our May-June Parachute + partner update series (19 Jun – 25 Jun'20): Jason hosted a flash 1000 $PAR challenge for sharing details on "the silliest reason you tipped someone in real life". Gamerboy, Charlotte, Afful and Peace Love hosted some uber cool quizzes in TTR this week for $PAR prizes. Gian got folks to post music “featuring bands or song titles that have a color in their name” for Two-for-Tuesday this week. As always, Sebastian was kind enough to compile the playlist with everyone’s posts. The English Premier League is back! And with it LordHades’ Fantasy Premier League (FPL) officially reopened as well. James, who you would know from the Parachute Athetics and Running Club, announced the start of a secret challenge for $PAR prizes. Switch-partnered and John McAfee-backed privacy coin $GHOST was listed on ParJar this week. And the swap beta feature is almost ready. Read all about the latest ParJar updates from Cap’s post. Skittish started a channel to track major on-chain $PAR transactions. European crypto exchange Txbit added $PAR as a contender to their latest vote-for-listing contest after a taking public poll. Hope you got a chance to vote. Borna was the winner of this week’s Parena. Congrats! That was quite the finale this week To track the latest $AXPR burn, click here. After a brief disruption, 2gether is back to normal shipping of their cards. XIO launched the XIO Labs this week, a decentralised talent pool to help incubate blockchain projects. Zach expanded on the zero-loss membership model vis-à-vis XIO Portals through a detailed video this week. The GHOSTX atomic swap platform by Ghost went live this week. 50% of all fees will go to $ESH holders. The team hosted an AMA with crypto entrepreneur Alex Masmej. You might remember him from his Human IPO – selling shares of himself in the form of tokens. If you missed it, you can catch up from the transcript. Lite Liger made a video tutorial on how to create your own Dex using SwitchDex. John McAfee appeared for an AMA with Wendy O to answer community questions on Ghost. Following this, Wendy posted a tutorial on how to use the McAfeeDex as she promised during the AMA. Fantom published an article on how upcoming token releases and rewards will affect the circulating supply. Uptrennd founder Jeff Kirdeikis sat down with Michael Gu (Box Mining) this week to talk about crypto, altcoins and Uptrennd. For the latest weekly recap and monthly stats, click here and here respectively. $1UP got listed on B One Payment wallet. The latest district weekly and dev update cover a lot of recent news from the District0xverse. Brady also posted a detailed guide for creating a no-code Web 3 compatible loyalty store. As the Hydro team continues to expand, highlights from their recent team meetings were shared with the community. A comprehensive list of top challenger banks was also published. Sentivate founder Thomas Marchi was interviewed by Mr. Backwards. SelfKey’s Loan Marketplace is now live. Early sneak peek of the XIO mobile dApp The Constellation team did a coffee talk where they discussed about the road ahead for $DAG. Yazom launched a Toon Cup competition for its community for a chance to win some cool gadgets. As you might already know, the Pynk crowdfunding campaign on Seedrs is now overfunded. Woohoo! COO Rupert Barkdfield gave a project pitch at the Unicorn Battle this week. CyberFM announced a new Black History Music channel and committed to help end systemic racism. Wibson hosted a Data Privacy seminar for their Spanish community. Harmony announced that the number of open validator slots will be doubled to 640 by July 1. The first phase of slot increase happened this week. The team also compiled an FAQ list for Open Staking. Ankr made a node running cheat sheet as well. Huobi announced support for $ONE mainnet. For the latest #pow thread, click here. Did you know that the Harmony dev ecosystem extends to far away as the Himalayas? Amazing! Kucoin’s Pool-X announced support for $ONE staking. Within days of the announcement, the staking pool got filled up to its max cap. If you’re not yield farming yet, here’s a video guide on how to use $ONE to get in on the fun. The team hosted a fireside chat with Dhawal Shah of Frontier wallet and Ganesh Swami of Covalent to talk about DeFi. BitForex listed Intellishare’s $INE token this week. To celebrate the occasion, Intellishare hosted a Pandora Box event to give away 20k $INE as rewards. Sweet! Click here to read how the network fights bad actors. Plus, the significance of mesh networks was expanded upon in an article. The team also announced time offs for next week. GET Protocol clinched a number deals to ticket upcoming events. Click here and here to find out if your favourite artists’ events are there. $GET is now available on Uniswap. COTI crew sat down for an AMA with Indodax this week. CEO Shahaf Bar-Geffen will be sharing more details on Blockchain Dollars in an AMA with Wolf Crypto next week. Stablecoins, wink wink. The team will also be speaking at the Cardano Virtual Summit next week. Another staking campaign on Binance was launched. Read more about it here. The team also put out a detailed roadmap as they move towards MainNet 2.0. With that, we have to say Bye for this week. Next on my To-Do list: Get to work on the updates of July and August :D. Till then, Ciao!
Startup Advice/Feedback Appreciated: Robinhood style Trading Platform but for Commodities
Hi all, Been working on this project for a while, but basically, with all these relatively new fintech startups making trading stocks easier, I wondered why isn't there one for commodities? Well, technically, those looking to trade in actual physical commodities, and not ETFs, futures, etc. Did a bit of digging, and from my perspective: high commission fees on occasion, counterparty risk, lack of transparency regarding underlying assets and who actually owns it, and generally can be a bit inconvenient. That's where the idea started. So, I flirted with the idea, researched, developed and came up with this: a trading platform where people can buy and sell commodities with no commission. Commodity assets will also be redeemable, though there might be a shipping charge to cover costs of logistics since we don't charge many fees (working on this). There's an annual charge of 0.8% (working on this) of the portfolio value paid in monthly arrears, to cover costs of insurance, storage, maintenance, and to keep the lights on. Transparency will also be key, and that will come in the form of asset audits, recorded history of transactions, etc. Team-wise, we've got a tech professor specialising in cyber security & fintech, ex-Royal Canadian Mint, 25+ years equity, forex (and others) investotrader, and a couple more. What do you guys think? Feedback is appreciated and thanks in advance! Also, if there's anything I can do for you guys, give me a shout!
With Caution, Know What You Can Do For Bitcoin Scam Recovery
With the cybercrime landscape changing phenomenally in the past few years, it is time that online traders, be it forex or cryptocurrency, sit up and take notice of this fact. Last year, about 93.6% malware were on a single PC. Computers and networks are being hacked online at the rate of one attack per 39 seconds. The US saw about 82.6% cyberattacks in 2019. Do you know that at least 75% IT professionals involved in IT security think that a cyberattack is imminent this year? https://preview.redd.it/utv1jemgco551.jpg?width=1200&format=pjpg&auto=webp&s=798ccbe1600f70e6e4aca1c8bb4c1c33f571961c Cyber criminals are lurking everywhere in the online world. What you need to be is – extremely cautious and careful about where to put your money and go about the thing. While for most traders, getting their lost money back is a distant dream, there is a ray of hope in this context, though. Today, there are couple of credible recovery companies that work specifically in the area of bitcoin scam recovery. They understand your case, help with every possible way of getting the money back using high-tech and patented technology and then also assist with the chargeback process. Talking and consulting with such companies help you work towards getting your money back as also in ensuring that you take all precautions to avoid such a situation in the future too. The online world of forex, crypto coins and binary options is beyond doubt, profitable and lucrative. In such a scenario, cyber criminals are intelligent and tech-savvy people who are well aware that there are newcomers and inexperienced traders joining in the platform for online trading every day. These are the people who are easy targets of cybercrime. If you are one of them, it is important to not only safeguard your money but also to know the right thing to do during a Bitcoin scam recovery.
Hi all, I'm 30 & based in the UK, and looking to get into day trading, starting small and slowly building it up to, hopefully, overtake my main source of income. I'm not looking to go diving into it headlong whilst the Markets are somewhat volatile due to the Coronavirus & other political events, and looking to start around about June/July time. So I'm currently using the time until then to do reading, learn about technical analysis, stop losses etc, and also read through the sticky for new day traders & also jumped over to forex and had a look at their Wiki as well as browse their threads. I have an understanding of risk, in a Cyber Security approach, but not so much in financial markets, I also have a list of books I'm about to purchase to help me grow and learn about trading as a whole, as well as the psychology in keeping cool and not being brash about it. So my questions are; 1) Recommended platforms for UK based day traders? (I'm aware that I'll be needing to do due dillegence etc on each Platform, but some suggestions on platforms to consider would be helpful). 2) Sensible opening balance to start trading with? I'm looking to start with about £3,000 but could be up to £5,000 or less than £3,000. 3) Areas to start in? (Forex, CFD's etc). 4) Online courses which you recommend for learning to trade? (I have the IG one bookmarked already) 5) Your thoughts on attending trading courses etc to actually learn? Not some "Get rich quick" seminar. (I've read some say yes, some say no) Any advice would be appreciated for this new starter.
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