TechBitcoin Trace - The Main Reason Why People Get Scammed For Their...

Bitcoin Trace – The Main Reason Why People Get Scammed For Their Bitcoins

In today’s world, it is only people who live under a rock who don’t know what cryptocurrency is. Bitcoin is the strongest currency in the world. That is if you count all and every currency, including cryptocurrency.

One wouldn’t even want to believe that 1 bitcoin is 20,954.70 USD. And surprisingly enough, this is the price of today’s bitcoin. Back in November 2021, the price of bitcoin was about 60,000 USD.

Bitcoin Trace:

Bitcoins are a very strong source of attraction for scammers. With the value they hold, scammers will go through every length in order to be able to grasp such currency to earn money if they were to sell the bitcoins. To sum it up, the reason scammers desire bitcoins are because of how they are valued. 

Now that we know that the internet may be filled with people who would want to take control over your hard drive in order to gain accessibility to your wallet, we have figured out in what ways they can scam a person’s hard drive.

Bitcoin Scam:

Firstly, the easiest the biggest way con artists indulge with an innocent user to scam their cryptocurrency is by impersonating very well-known businesses. Generally, they will ask the user to give them a part of their cryptocurrency.

Even if the business looks highly legitimate, note that no actual and trustworthy company demands that a person gives them a portion of their cryptocurrency beforehand. Transactions are made after services or goods are given.

However, let’s assume that you have been scammed.  What shall you do?

The first thing you’d feel is a disappointment, but you have to overcome that and contact the support staff of cryptocurrency. Now that you’ve contacted the support staff, we will take you through what other steps you have to do and how you can trace your bitcoins.

How You Can Bitcoin Trace:

Before you may be able to get back your cryptocurrencies, you need to note down the transaction ID. Using this transaction ID will help the law enforcement authorities to track down the address of the con artist that was trying to rob you of your hard work. Attaining the transaction IDs will not only help you find the scammer but will also quicken the process of actually finding the scammer.

This is one of the easier ways to recover Bitcoin trace and bring them back to the online wallet they belong to. Another thing you need to do after you have fallen a victim to a fraudster is to check your credit. A credit will help you identify the number of scammers who have opened a scam account in your name.

Through this, you can potentially find the person who scammed you. In addition, before beginning your chase to pursue the scammer, you can leave your credit report on the mark.

Scam Other People:

This helps make sure that you have no more opportunities to be scammed any longer, and no more scammers can open accounts in your name to scam other people.

Next up is something every person should do regardless of the item they are scammed for. You should note down the exact circumstances of when the scam took place, how the scammer came to talk to you, what text messages were sent between the both of you, any emails you or the scammer sent, or just any information you remember.

You have to pen down the amount of money you lose, the time when the exchange was made, the transaction IDs, and a lot more. Try to write as accurately and precisely, and use all your mental ability to recall your time with the scammer. This information will help the investigators quicken the process of narrowing down the suspect list.


Some other things you need to do on the side are to contact the police and get in touch with the support staff. The support staff will listen to you and freeze all your cryptocurrency. This would mean that at the moment, your money is neither in your wallet nor in the con artists’. The cryptocurrency has been frozen within the transaction.

However, this method is highly unreliable. The support staff deals with the messages of the victims depending on who exchanged what amount. This means, that those who exchanged the highest amount of cryptocurrency will have their currency frozen to save them from scams. If you have not invested as much in cryptocurrency, it is useless, because, by the time they read your message, your cryptocurrency will be long gone into your scammer’s account. Hence, this only works if you are aware that you have exchanged and spent a lot of your cryptocurrency account.

Recover Scammed Bitcoin:

Let’s say that you have now recover scammed bitcoin. You’ve traced your bitcoins back to the scammer and you have gotten back your bitcoins, now what should you do? You should protect your bitcoins and to help you with that, we will tell you how you can prevent being re-victimized by having your cryptocurrency – which is, in this context, bitcoins – scammed.

One thing you should do regardless of if you have been a previous victim or not is to load all of your currency into an offline wallet. This will make sure that you, and literally only you can access the wallet and keep monitoring your cryptocurrency.

Offline Wallet:

Next thing is to learn from your mistakes. Never ever again send your crypto to a business that texts you demanding that you send them their pay first. Just… never. These are always scams. Do not give your account identity to anyone for no reason. Not even the support staff. You can never know when things turn south for you.

Keep your credit alert up, and closing monitor the people who make deals to see how legitimate they are.

And before you make a deal, get a private piece of information from them i.e. their phone number – which you can test by calling them and talking to them about the deal – or their car’s license plate, anything that you can use against them if they did decide to scam you from your cryptocurrency. 

Lastly, keep in mind that a lot of the things you see on the internet may be fake. Cryptocurrency giveaways, an actor asking for cryptocurrency, these are all scams and as long as you mind your own business and keep moving on with your cryptocurrency, nothing will happen to your account!

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