Fraud on the cryptocurrency exchange

In recent years, quite a lot of attention has been drawn to the issue of cryptocurrency. Information often appears in the news regarding the incredible rise of coins such as Bitcoin. For many people, crypto is a tool for making quick money. As you know, in those areas where there is an opportunity to make money, fraudsters are sure to appear. In this article, we will consider the issue of fraud on the cryptocurrency exchange.

If you have become a victim of cryptocurrency fraud, the first thing you should do is get professional legal help. Cryptocurrency lawyers will help you with this.

Cryptocurrency: the most popular exchanges

Interaction with cryptocurrency is always accompanied by risks. A wide variety of fraud schemes are presented in this area. Unfortunately, today Ukraine does not have an effective algorithm for combating such crimes.

The digital nature of cryptocurrencies is especially attractive to fraudsters. Among the most common fraud schemes:

• Use of fake investment funds.
• Underground exchangers, etc.

Cryptocurrency scammers may offer a variety of questionable products or services. If you have become a victim of fraudulent activities, you should enlist the support of a lawyer.

To begin with, we suggest considering the most famous cryptocurrency exchanges:

• Binance

It is one of the most popular and liquid global exchanges. Available options: buying and selling cryptocurrency, fan tokens, options, etc.

• WhiteBIT

At the heart of the trade in digital assets is the full legalization of this activity. The exchange allows you to securely store assets: more than 96% of assets are stored in so-called "cold" wallets.

• OKX

The crypto exchange supports more than 400 trading pairs. You can top up your account with any fiat currency. Not all crypto projects can offer such conditions.

Features of the operation of cryptocurrency in Ukraine are regulated by current legislation, namely the Law of Ukraine "On Virtual Assets" and a number of draft laws.

Cryptocurrency scams

The most common cryptocurrency scams are:

• Fake service support

This is the easiest way to carry out fraudulent activities. It is enough to create a user account in any messenger. This account duplicates the group administrator account.

Fraudulent activities are carried out through various "activations" and "verifications".

After receiving the private key or seed phrase, fraudsters easily withdraw funds from the wallet.

• Viruses, dangerous programs

At the heart of fraudulent actions is a script. It is on the PC and other gadgets before the user enters the e-wallet address. At this moment, the algorithm that "appropriates" the e-mail address is launched. Crypto theft may not be detected immediately, but after the transaction has already entered the network.

• Cryopyl

Priptopil - small shares of cryptocurrency (gwei, satoshi, etc.). Criminals transfer them to the addresses of so-called "active wallets". Blockchains of such private cryptocurrencies as Bitcoin, Ether, etc. completely open. This allows you to track all coin movements. Thus, attackers gain access to assets. After users are installed, outright extortion, fraud or brute force are used.

• Cryptojacking

Fraudulent actions are implemented as an inconspicuous integration into the operating system of another user or in the form of code that is embedded in the site.

Support of a cryptocurrency lawyer

Among the lawyers of our Prykhodko and Partners law office are experts who specialize in issues of cryptocurrency and digital assets. This is a new and dynamic area of ​​law that covers a wide range of diverse issues.

Our lawyers provide a full range of services on cryptocurrency issues:

• Cryptoconsulting.

This is comprehensive support for crypto business: obtaining licenses, attracting investments, structuring.

• Protection of clients' interests in criminal cases related to mining and crypto.
• Representation.

We specialize in various categories of cases related to cryptocurrency: asset tracking and blocking, communication with various platforms (Binance, Kuna, etc.).

• Accompanying the client in court.

Thus, cryptocurrency fraud is a real threat. It requires serious attention and comprehensive measures to protect the owners of the crypt. Our professional lawyers will help ensure full protection of your assets.

We are real experts in this field. Our lawyers have the necessary knowledge and practical skills to implement even the most complex tasks. Each client is unique to us. We provide an individual approach to solving specific needs.

Do you still have questions? We are waiting for a preliminary consultation! To calculate the cost of the services of a cryptocurrency lawyer, fill out the form below.