Cybertrace investigators are issuing an urgent alert about the CryptoAssetHacks scam website. Offering to help victims of scams, CryptoAssetHacks is actually a plain old recovery scam that dupes targets a second time. Importantly, they do so by appealing to hacks as an alluring shortcut/substitute for actual investigative work. As discussed in a recent blog, the only crypto hackers are those who steal your money! In a rapidly evolving digital landscape, the team at Cybertrace is committed to keeping you informed about potential online threats. While we continually strive to counter cyber threats, knowledge remains your first line of defence. Today, we spotlight a malicious website preying on those who’ve already been victimized by other online scams. Should these nasty scammers have already defrauded you, don’t hesitate to contact Cybertrace today to see how we can help.
The Illusion of the CryptoAssetHacks Scam
The deceptive website cryptoassethacks.com portrays itself as a beacon of hope for scam victims, offering to help recover lost assets. However, our investigation suggests that this website is not what it claims to be. For one, the CryptoAssetHacks scammers claim to have satisfied over 500+ clients and recovered over $100k in assets. However, these figures are impossible to achieve, considering they only recently established the website in August 2023. Furthermore, these malicious websites will often create and publish fake reviews in order to appear trustworthy. For example, the below image purportedly shows reviews from “happy customers”. However, apart from the obvious mis-gendering, most images are copies from other websites, as a quick reverse image search reveals. Both are common slips to watch out for.
Understanding Their Tactics
This website specifically targets individuals who have already fallen victim to online fraud, capitalizing on their desperation to recoup losses. Teasingly, they dangle the promise of asset recovery, hinting at specialized tools or expertise that can aid victims. Unfortunately, this is simply a trick to lure in their next hopeful victim. Once they have established trust, they may demand upfront fees, personal details, or other assets. While they couch these as necessary for asset recovery, the CryptoAssetHacks scam operators are just looking for another ill-gotten payday. Don’t let them fool you!
Recognising The Red Flags
As with other recovery scam operators, there are clear red flags when it comes to the CryptoAssetHacks scammers. By keeping these front of mind, you can protect yourself and your loved ones from fraudsters and financial ruin.
Too Good to Be True: Any platform guaranteeing quick and easy asset recovery should be approached with scepticism. Cyber fraud investigations and asset recovery are complex, time-consuming processes that require diligence, professionalism, vast experience, and expertise. Don’ trust the CryptoAssetHacks scam operators’ fake testimonials.
Immediate Payment Requests: Authentic cyber fraud investigators like Cybertrace will always provide clarity about processes and costs. Beware of anyone like the CryptoAssetHacks scammers demanding upfront fees without clear explanations.
Ambiguous Details: All legitimate recovery services will have verifiable success stories, transparent operations, and accessible contact points. Scam sites often hide behind generic or fake testimonials and elusive contact information. Similarly, the CryptoAssetHacks scammers state they’re based in the British Virgin Islands but their T&Cs state that US law applies. So, which one is it?
Ratings and Reviews: Many scam sites will have fluctuating reviews, which we should always take with a large grain of salt. For that reason, Cybertrace recommends visiting Scam Adviser, who have given the CryptoAssetHacks scam website a trust score of 1/100. Not exactly a ringing endorsement!
Recommendations from Cybertrace
With a ballooning of cyber fraud producing more and more victims, scammers have moved into the asset recovery market. In fact, the majority of those posing as operators in this field are likely scammers themselves. So, what can you do to avoid fraudsters ripping you off a second time? How do you sort the wheat from the chaff and avoid falling victim to the CryptoAssetHacks scammers? Follow these three rules to stay safe online:
- Stay Informed: Regularly check reputable cybersecurity platforms, like Cybertrace, for updates on prevalent scams and how to avoid them.
- Safeguard Personal Data: Always think twice before sharing any personal or financial details online, especially if the website or service seems suspicious.
- Engage Experts: If you’ve fallen victim to a Cyber fraud, get in touch with our diligent investigators at Cybertrace.
