How to Recover Stolen Cryptocurrency: What To Do When You Lose Your Coins

Are you keeping tabs on your cryptocurrency? If not, you should. It’s no secret that cryptocurrency is an easily accessible way to keep your funds safe while also having the opportunity to profit from its value.

But with great benefits come great risks, Cryptocurrency has become a prime target for hackers because its value has soared so high in such a short period of time.

If you’re reading this, there’s probably a good chance that you’ve already fallen victim to hackers and lost some money as a result. So what can you do about it? Well, read on and find out just how much you could stand to benefit from these helpful tips when recovering stolen cryptocurrency.

Don’t panic!

The first thing you should do when you discover that you’ve lost money is to not panic! There are many reasons why your cryptocurrency could have been stolen, and a few of them can actually be mitigated.

If you can stay calm and be smart about how you handle your situation, you could save yourself a lot of heartache and stress.

Check your wallet’s access points

You might have been hacked if you notice that there are access points that were not there before. This could include new emails, new IP addresses, and even a new website URL. If so, you may have been the victim of a phishing scam that is designed to steal your funds.

To check if this is the case, log into your cryptocurrency wallet and make sure that the URL is the same and that you’re logging in with the right information.

If not, you’ve got a problem on your hands.

Change your passwords ASAP

If you’ve been hacked, there’s a strong chance that the hacker has had access to many of your accounts. This means that they’ve almost certainly been accessing your cryptocurrency wallet and have had the opportunity to nab your login information. If so, they’ll likely have already changed your login details and will keep your funds for themselves

If they didn’t change your password then change it right away.

Check for traceability

If you’ve lost money, chances are that you’ve lost a lot of it. That means that it’s highly likely that your funds were part of a large-scale hacking that targeted many people at once. If so, you’ll likely have a hard time finding your funds again.

Blockchain transactions are entirely traceable.

Basically, that means that you can follow the path of your coins from the start to the finish by tracing the transaction and seeing where it came from and where it went.

If you can find the transaction, you can likely find the stolen funds.

Contact the Bounty hunters

This is the last resort you can take to recover your funds. You can connect with crypto bounty hunters who can get back your stolen crypto, they will charge %of the amount recovered.

Note: it is a very risky proposition to trust someone else with your crypto. So choose your bounty hunter wisely and do a lot of research before approaching them. there are a lot of scammers just looking for victims who just lost their crypto.

This video shows how they take advantage of your situation and it will also show you different types of scams. So, Be careful.

Contact the police

If you’ve been hacked and your funds have been stolen, it’s likely that you’ll never get them back. However, you can still report the incident to see if the police can do anything to help you track down the criminals that stole your funds.

This can be a difficult process, but it can also help you feel like you’ve done everything you can to rectify the situation.

Bottom line

The best way to minimize the risk of having your cryptocurrency stolen is to be smart about how you secure your funds.

This includes using two-factor authentication (2FA) on all your account logins, storing your tokens in a secure wallet, and keeping an eye on your account activity to spot suspicious activity as soon as possible.

You will also like to read 10 Cryptocurrency Terms You Need to Know Before You Invest