The blockchain.com wallet enjoys great popularity. Not only because the service was one of the first to offer a browser-based wallet, but also because of its fast and convenient setup. This level of awareness ensures great trust among many users, which is why it is particularly easy for fraudsters to pull the wool over the eyes of their unsuspecting victims.
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The misuse of the name and design of blockchain.com has been going on for some time. In the following, we would like to inform you about how the blockchain wallet scam is raised, how to protect yourself from it and what you can do if you have fallen victim to a scam.
Scammers often use phishing
The generic term phishing describes a number of methods that are designed to deceive the recipient of a message and elicit sensitive information. Because blockchain.com is a browser-based wallet, which is also available as an app, the fraudsters have a relatively easy game.
After all, they only have to manage to contact their victims and create the impression that there is an urgent need for action. To do this, they target users of blockchain.com primarily via email and thus launch their phishing attempts. They often pretend that there is an urgent need for action because otherwise the wallet will be deleted or large amounts of Bitcoin will be lost. Alternatively, they delight their victims with a letter telling them that they should receive a large sum in Bitcoin. To receive the sum, they have to click on a button or a link within the email.
Of course, the recipients of these emails are subsequently redirected to a fake website where the login credentials of their wallet are requested. If you go along with the scam attempt and enter your login credentials, the perpetrators take control of the Wallet and withdraw all the funds. They usually do this very quickly, using automation to withdraw amounts from the wallet at lightning speed.
How do perpetrators convince their victims?
In addition to the content of the messages, which already suggest an urgent need for action, the perpetrators are using increasingly sophisticated methods. For example, they use the company layout of blockchain.com for the phishing emails or attach fictitious documents containing a letterhead that faithfully reproduces the original.
As so often, the devil is in the details, because at first glance, the emails from the real provider are indistinguishable from those of the scammers. The perpetrators are also increasingly using e-mail addresses that have a high degree of similarity to the real domain. This increases the chances that unwary users will fall for the phishing attempt.
How can I protect myself from the blockchain wallet scam?
As can be easily seen from the methods, it requires close scrutiny of the emails. So, if you are a customer of blockchain.com and you use a wallet there or maybe you have the app of blockchain.com installed, you should look very carefully when you receive an email.
Basically, blockchain.com cannot access the wallet. Therefore, the access data, the private keys and the so-called seed are only known to the rightful owner.
Therefore, it is safe to assume that all requests asking for private keys or seed are faked and do not come from the blockchain.com team. As far as login data is concerned, on the other hand, the matter is more difficult. This is because, in principle, the provider could legitimately send an email requesting a login, for example to agree to changed terms and conditions or for a similar legitimate reason. However, this happens comparatively rarely, which is why you should be skeptical right away about a request that requires a login.
The ultimate protection is to check the URL and the browser certificate, which cannot be faked. This way, you can make sure that you have actually landed on the provider's site and not on a fake phishing site.
Blockchain.com Wallet has been drained, how to recover funds?
Unfortunately for all cryptocurrencies, all transactions are irreversible, so they cannot be reversed, as would be possible with a bank transfer, for example. This fact ensures that time is a crucial factor to make an attempt to recover the stolen cryptos or claim compensation.
First of all, we would like to recommend you to save all emails and transaction data you have. They can provide valuable clues to the identity of the perpetrators during the investigation. If you have established contact with the perpetrators in the course of the fraud, you should break it off. Further attempts by the perpetrators to establish contact should also be ignored. Otherwise, there is a risk of further losses or additional identity theft in the end. After all, if the perpetrators have the impression that they have already squeezed all the money out of the victim, they tend to add value by committing other crimes.
Crypto-Tracing specializes in helping in such cases. We work in close cooperation with the IT lawyer Dr. Maisch. This allows us to work for our clients in all areas in addition to comprehensive blockchain forensics. This includes, for example, the preservation of evidence and documentation as well as, if desired, legal representation in all legal matters, which we are happy to arrange.
The advantage of blockchain forensics by Crypto-Tracing is that investigating authorities are optimally supported in their work. Laymen often overlook important details that are crucial for investigators. We prepare all documents and analyses necessary to formulate the criminal complaint in such a way that the case is as clear as possible to the authorities and, if possible, initial approaches to identifying the perpetrators are already available.
Do not hesitate and describe your case to us without obligation via our contact form. We will contact you personally as soon as possible and give you an initial assessment of the chances of success and possibilities in your individual case constellation.
FAQ on blockchain.com Wallet Scam
What measures does blockchain.com take to prevent fraud?
Blockchain.com is constantly working to improve the security of the wallet. This includes implementing 2-factor authentication, regular quality checks and audits to identify potential vulnerabilities. The provider also provides various information and resources to educate users on the proper use of the wallet.
Does blockchain.com provide support for recovering stolen cryptocurrencies?
No, the provider usually cannot provide direct support for the recovery of stolen cryptocurrencies. However, in the event of police investigations, connection data may be requested by authorities, for example, which the wallet provider must provide. Users should therefore attach particular importance to the protection of particularly sensitive access data.
Can blockchain.com be held responsible for losses?
No, provided that the loss was caused by phishing or by fraud, the provider is not liable. After all, the company name is misused. Of course, cases are conceivable in which the provider is responsible. However, these are likely to be technical defects, which occur only very rarely due to the relatively high product quality and are usually quickly detected and eliminated.
Can I recover my wallet after the fraud?
The recovery function is intended for lost access, but not for fraud. If you restore a wallet that has been emptied by fraudsters, you are taking a big risk. After all, the perpetrators sometimes still have access via private keys or seed. This allows them to steal funds again at any time. Once the wallet has been compromised, it should never be used again for this reason.
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