Bitcoin Chargeback

Why are there so many crypto scams? One of the reasons is that bitcoin transactions are anonymous. Often, we don’t really know who we are sending money to on the blockchain. With a bank transfer, we need a verifiable name, account information, and address. Credit cards issued by banks also verify cardholders’ data. 

However, cryptocurrency users don’t need to verify their identity. This can create a sense of freedom and release. However, the blockchain can also give cybercriminals a chance to create bitcoin scams that give them the cover of anonymity. 

For this reason, people often give up when they’ve lost money to cryptocurrency scams. However, there isn’t a reason to be defeatist, because you can seek fund recovery on the blockchain.

Is a Bitcoin Chargeback Possible?

If you’ve heard that a bitcoin chargeback isn’t possible, don’t be deterred. In the strict sense of the term, there is no such thing as a bitcoin chargeback, but fund recovery from bitcoin transactions is definitely possible.

What Is a Bitcoin Chargeback?

How does this work? Because every transaction on the blockchain is permanent, you can’t reverse charges from cryptocurrency transactions the same way you can get a credit card chargeback.

“Bitcoin chargeback” is a borrowed term. It really just means bitcoin fund recovery. Instead of a reversal of charges, it involves a refund. This can be an easy matter if you manage to convince a merchant or broker to return your money. However, if you are dealing with bitcoin scams, for understandable reasons, your requests for a refund are likely to land on deaf ears. 

A bitcoin chargeback from a crypto scam means getting a third party involved–usually law enforcement or government officials. Often a crypto exchange will also assist, but they deal with so many cases, they may not be able to give individual cases the attention they deserve. 

There is no doubt that going it alone in these bitcoin scam cases isn’t the answer. Even if you’re a cryptocurrency expert, you’ll still need Crypto Trace crypto forensics experts to investigate your case and create a crypto report that will help you win your case and improve your chances of crypto recovery.

What Are the Steps in the Bitcoin Fund Recovery Process?

Crypto Trace professionals will get you started on the crypto recovery process with the following steps: 


Crypto Trace will consult with you, gather information about your case, and give you an overview of our approach to assisting our clients in crypto scam cases. 

Crypto Investigation

With the information you provide, we’ll launch a full investigation into your situation. Using advanced technology and bitcoin forensics techniques we can trace the path of transactions on the blockchain and unmask the identities of the crypto wallets and the places your funds were cashed out. 

Crypto Reports

Following the investigation, we’ll create a crypto report that you can bring to authorities. This will give law enforcement leads to tracking down the people responsible for the bitcoin scams. 

Strategy Mapping

We’ll give you guidance on how to file your complaint, approach authorities, and seek the support you need for successful fund recovery.

How to Improve the Chances of Crypto Recovery? 

There is no guarantee that crypto recovery cases will be successful. Many are partially successful in the sense that people may recover part of the money they lost. 

There are many factors in fund recovery cases, such as the record the cyber criminals already may have, how many wallets the funds passed through and whether and where funds were cashed out at an exchange. 

You may not have control over any of those factors, but the following are some things you can do to increase the likelihood of fund recovery:

Keep a Record

Keep screenshots, and don’t delete texts or messages that you receive from the crypto broker or merchant. You’ll need this investigation to help Crypto Trace experts help you. 

Contact the Crypto Exchange

Crypto exchanges are feeling the heat as they receive more complaints about crypto scams. They want people to believe their exchanges are safe places. Although many exchanges are overwhelmed with complaints and tend to pass off responsibility for bitcoin scams, at the same time, timely complaints about crypto scams put pressure on exchanges to take action. 

Get Started Immediately

As soon as you suspect you are dealing with a bitcoin scam, seek Crypto Trace professionals immediately. People behind crypto scams act fast. The sooner you connect with us, the greater your chances of fund recovery success.

Do You Need Crypto Scam Detection? Talk to Crypto Trace Experts Today

Crypto Trace gives its clients the tools they need to support their claims. If you have lost money on the blockchain due to hacking or crypto fraud, our experts will consult with you and launch a thorough investigation. We will present you with an investigation report that can improve the chances of a successful result for your crypto claim.