Is eFunds Recovery a legitimate crypto recovery service or a scam?
Is eFunds Recovery a scam? Yes, eFunds Recovery is definitely a scam!
Our analysts have become aware of a new scam pretending to help people recover their bitcoin or other crypto currency losses from other scams: eFunds Recovery. This fake company preys on people who have already lost money to other crypto scams. When they try to recover their assets, eFund Recovery defrauds them of even more money.
What are crypto recovery service scams?
Bitcoin and other crypto scams have seen a massive increase in recent years. Everyday people have lost hundreds of thousands of dollars to unscrupulous scammers. However, things can go from bad to worse when those same scam victims then seek to recover their lost funds. Many are preyed on by secondary scam operators posing as crypto recovery services, such as eFunds Recovery. As a result, they lose even more money in the process. While there are legitimate services, such as Cybertrace, that can help crypto fraud victims recover their assets, it is important to be aware of scammers that try to steal even more of your hard-earned money!
How can I tell if it’s legitimate or a scam?
It can be hard to know what’s legitimate and what’s fraudulent. When checking out websites such as eFunds Recovery, you have to know what to look for. In a previous blog, we have explored the tell-tale signs for whether a website is real or fake. Guided by our analysts’ deep insights and experience, let’s apply these tests to eFunds Recovery. How do its claims to help victims recover funds lost in bitcoin or other crypto scams stack up?
No website access
First of all, can you even access the website? If you have installed standard internet security software, it will likely block the eFunds Recovery website. It will also flag the site as dangerous and a scam. While these programs might not always be 100% accurate, this is a pretty strong indication not to trust this service!
Does the company even exist?
Now, let’s imagine you don’t have internet security software installed or it didn’t flag this particular website. The next question would be: what kind of information does the website provide about the company? At the bottom of its homepage, eFunds Recovery provides the name Electronic Funds Recovery LLC and an address in NYC. However, searches of international corporate databases do not reveal any records of such a company existing. If a company were legitimate, it would be possible to independently verify its existence.
Fake or no reviews
Next, at first glance eFunds Recovery’s website certainly looks professional and legitimate. However, there are some important tell-tale signs of it being fake. Key amongst these is a claim on its homepage that the service is rated as excellent (based on 77 reviews) by independent review site Trustpilot, yet no link is provided. Upon searching Trustpilot, it shows that there are zero reviews for eFunds Recovery, thus showing the claim to be fraudulent. In fact, the only independent reviews of the service discuss it as a scam on forum sites such as realscam.com.
No track record
Another red flag is the fact that domain hosting records show that eFunds Recovery’s website was only registered in late December 2020, yet it claims to have thousands of completed projects and happy clients after only four months of operations – an impossible outcome! What’s more, the website is registered by Whoissecure, a private domain registration company. Doing so keeps the real owner’s name and details hidden.
This leads us to the final tell-tale sign of fake websites and associated scams: no information on who is behind, or works for, the company. There is no name or face anywhere on the eFunds Recovery website. Similarly, a search of LinkedIn did not return any employees or, indeed, the company itself.
Beware of fake news
Scammers will sometimes rely on articles written about them by supposedly independent news outlets to lend them legitimacy. Two recent articles on eFunds Recovery – published by The American Reporter and Business Matters – fall into that category. They appear to be either uncritical promotions of the service or actually fake and part of the scam itself. As always, it is important to consider whether a publication is genuine and what the writer’s qualifications and expertise are on a given topic.
Verdict: eFunds Recovery is a scam!
Based on numerous red flags, our analysts believe eFunds Recovery is a scam and NOT a legitimate crypto recovery service. We urge anyone thinking about using their services to recover scammed assets to reconsider. Go with a reputable cyber fraud investigation service such as Cybertrace instead! If you have already been scammed by eFunds Recovery, get in touch with us to see how we can help.
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