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Topic: Can Stolen Bitcoin Be Recovered (Read 591 times)

jr. member
Activity: 336
Merit: 3
July 31, 2022, 12:21:11 PM
#45
Bitcoin is easy to track but recovery is more difficult not even back.
Bcz we all working as a software,nor in hardware, wallet's, transaction,phrase all's are in digital authority.
So it's necessary to be quiet intelligent if you are Bitcoin investor.
hero member
Activity: 1666
Merit: 709
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July 30, 2022, 02:25:51 PM
#44
Bitcoin transaction is irreversible. So when your Bitcoin was sent to any address that does not belong to you, you lost it, forever.

Well I like this guidelines because it is going to make people more careful, but on the other hand people who stole others Bitcoin has in some cases be caught, yes crypto-currency is decentralized especially when you leave you bitcoin lieing in an Account with out any implicating account, but some trying to convert a stolen Bitcoin or Crypto-currency to Fiat has been caught through final receivers details. This would happen more in a non decentralized exchange.
hero member
Activity: 812
Merit: 560
July 30, 2022, 02:14:23 PM
#43
However, he claimed that the bitcoin was returned after he emailed a recovery expert with contact address - BLACKJOCKER10x @ PROTONMAIL COM. Different professionals who aid in retrieving stolen bitcoin were suggested by other commenters

to say the fact you don't really need to believe in every item projected on social media as crypto news, some may be intended to claim more victims, think of it in this direction, why do they have to steal it in the first place, it's a rare thing that we all know when crime is done that the main aim targeted is to loot or steal what does not belong to them, in this case, they may be framing all these stories we don't know, all we see is thier publication online, so why should we believe it, on a norms, every transaction is available for public view on the distributed ledger, if using a centralized exchange then something related to block user account is possible when due process is followed involving government.

there's whale alert as well that can signal any massive transaction carried out on the blockchain as well which could be traced when reported, but don't you think the hackers are now smarter than all these, don't you also think that the so called professionals in recovering stolen coins may be the hackers or scammers, just be careful, if you don't make a mistake from your end at first place there won't be need for all these.
legendary
Activity: 2268
Merit: 18748
July 30, 2022, 02:04:57 PM
#42
  • Even if this doesn't happen the coin will be sent to some one who will want to trade for fiat and that way the link will extend
And you don't see the problem here? Let's say someone's account gets hacked and the attacker steals some bitcoin. They then decided to swap that bitcoin for some altcoin. The other user in the trade, who is completely innocent, legitimately trades his altcoin for this bitcoin. He then takes that bitcoin and heads down the street to his local electronics store which accepts bitcoin, and buys some new piece of hardware with that bitcoin, again all above board. The electronics store decides to swap that bitcoin to fiat to be used to pay some salaries. The electronics store deposits this bitcoin to a centralized exchange, and then the exchange freezes their account and seizes the "stolen" bitcoin, leaving the perfectly honest electronics store out of pocket and the perfectly honest shopper banned from the store forever.

This is the basis of why blockchain analysis is so deeply flawed. Any bitcoin transaction could be that bitcoin changing hands in a completely legal way. With the addition of Lightning and now some wallets which allow users to swap private keys, bitcoin could be changing hands in a completely legal way even without an on chain transaction.

Nobody treats cash like this. Nobody tests every bill you hand them for traces of cocaine or other drugs, despite that being incredibly prevalent, or looks at the serial number and checks against a database of stolen serial numbers. Why would we treat bitcoin like this?
member
Activity: 840
Merit: 23
July 30, 2022, 01:52:34 PM
#41
Retrieving the lost coin is actually possible but it is a process that will take a long time. One will ask how and i will explain with the following steps:
  • Bitcoin is a public ledger so the movement of the coin was appended on the blockchain
  • The coin will not remain in the hackers account for too long he will definitely move it to another address over time which will be appended as well
  • Some day the coin will be moved to an exchange where it will be traded for fiat
  • Even if this doesn't happen the coin will be sent to some one who will want to trade for fiat and that way the link will extend
In as much as bitcoin is pseudonymous it doesn't stop it from been traced it only takes a while and time because every transaction done on the blockchain is timestamped
sr. member
Activity: 728
Merit: 421
July 30, 2022, 12:51:30 PM
#40
I was reading a post where financial professionals discussed their views on bitcoin. how it influences both people and the government's desire to impose regulations on them. Some people, however, supported its existence and the issue it resolves, while others continue to believe there are reasons why it is not advisable to invest in cryptocurrencies as a whole. Such criticism has always existed as bitcoin and other cryptocurrencies continue to expand, among others.

What really impressed me about the post was the comment section, where readers shared their experiences utilizing bitcoin. One of the commenter named Paul Krebs described how he lost his bitcoin to a bogus blockchain.com imposter on Facebook, where they contacted him as blockchain official support. They gained access to his blockchain wallet, and 7.0938 BTC were taken. However, he claimed that the bitcoin was returned after he emailed a recovery expert with contact address - BLACKJOCKER10x @ PROTONMAIL COM. Different professionals who aid in retrieving stolen bitcoin were suggested by other commenters.

This post explains how cryptocurrency newbies like me, who are also interested in learning more about bitcoin and other cryptocurrencies can receive assistance from professionals who can aid in retrieving monies that have been taken from their wallets. And how to spot bogus blockchain official supporters when they are dressed as one. We have experts in the forum who can shed more light on this as well as how genuine those commenters were and determine if their testimonies were not fake. By contacting such experts, people won't be persuaded to fall victim to another scam.

This is a good topic for discussion. Unlike traditional fiat money which can be tracked, traced and recovered upon report of theft or laundry but I still have to be clear with OP are you sure it isn't an exchange the Bitcoin you are talking about was recovered because I am very much sure that once their is migration or movement of coin from a private wallet out to another private wallet which you have no access to and you do not know the owner of the wallet may be the wallet was hacked, we all know that fund is gone and gone forever unless it is tracked to a third-party wallet eg exchange and immediately reported then the exchange can take it up from there by freezing that account and not allowing any movement on and from that wallet if there is a substantial evidence or proof of theft or hack. I strongly believe OP understand what I am saying.
Due to the sophisticated blockchain technology, it is very hard to be able to trace or track a stolen fund onchain unless if the details of the hacker is exposed or know di as to recover the funds. Now I ask the big hacks that have been going on for long have anyone been apprehended to be a prime suspect with verifiable fact or proof?
hero member
Activity: 2660
Merit: 651
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July 30, 2022, 11:21:40 AM
#39

Knock off the condescension from your state of ignorance.  I am pretty sure that most people calling out a scam here are perfectly well aware of that.  Are you aware that that only happened because after an intensive, expensive, years-long investigation, the U.S. Federal police found that the persons holding the coins had a massive failure of basic opsec?  Their private keys were floating around in the clouds, LOL.  That is tantamount to observing that if a hacker steals coins, the hacker can also get hacked to steal the coins back.  N.b. that the police did not and could not undo any Bitcoin transactions.

The fact remains:  Bitcoin transactions are irrevocable.  Stolen coins cannot be recovered.  Without exception, anyone offering a service to “recover” stolen bitcoins is a scammer.
The conversation was about no stolen Bitcoin cannot be recovered and not about the level of investigation the US Federal police executed before they could find the loophole of getting the suspect behind the stolen Bitcoin which is the reason why I said it depends on the theft knowledge about privacy provider network. Mind you, some BTC wallets expose user IP addresses.
Nevertheless, I never said they were able to undo any Bitcoin transaction but with the help of Federal police, blockchain analysis expert, and local authority Bitfinex found the suspect.
hero member
Activity: 2128
Merit: 655
Leading Crypto Sports Betting & Casino Platform
July 30, 2022, 05:59:36 AM
#38
If Bitcoin is somehow hacked or stolen, it is often impossible to recover it. The only reason is that there is nothing here except the wallet address. We can track those assets where it is transferred. If it is taken on a centralized exchange in most causes it is possible to find out but hacker won’t do this. Usually they use decentralized exchange where no information is available. If someone wants to help you in such an event, you have to be more careful about the facilitator and what is his intention.
hero member
Activity: 1008
Merit: 702
July 30, 2022, 05:44:05 AM
#37

Ah, I see.  That would be appropriate for some sort of a scam investigation thread in one of the subforums for that purpose, if presented differently; but that is not the situation here.

I suggest you reread your OP with fresh eyes, as if you were a different person reading it—perhaps read it as if you were a total newbie who just had some money stolen, and is desperate to get it back.  OP basically presents a testimonial alleging that someone with that e-mail address had successfully “recovered” 7.0938 BTC.  It is presented in the form of asking if that’s possible, but it does not sound very skeptical.  To a neutral reading by someone who’s not you, it tends to come off very differently than you say you intend.

Great I see now what you meant by that. A desperate person who have been scammed wouldn’t bother to go through the comment section of the post but would immediately want to contact the recovery expert to get their stolen bitcoin back in a bid of a rush.

Quote
(Note:  OP is currently unedited.)

OP edited now
legendary
Activity: 3010
Merit: 8114
July 30, 2022, 05:38:35 AM
#36
Sir I had the same problem with my MetaMask until I contacted Lord Knox Harrington on Digg.

He managed to get me back 50% of my shitcoins, and for that I am forever grateful.
copper member
Activity: 630
Merit: 2614
If you don’t do PGP, you don’t do crypto!
July 30, 2022, 05:31:51 AM
#35
I supplied the contact information only to identify the address of such people if one were to come across that. There is no other purpose but this. I will modify the OP and remove the contact information if there is any chance that this may lead newcomers astray and fall for such again.

Ah, I see.  That would be appropriate for some sort of a scam investigation thread in one of the subforums for that purpose, if presented differently; but that is not the situation here.

I suggest you reread your OP with fresh eyes, as if you were a different person reading it—perhaps read it as if you were a total newbie who just had some money stolen, and is desperate to get it back.  OP basically presents a testimonial alleging that someone with that e-mail address had successfully “recovered” 7.0938 BTC.  It is presented in the form of asking if that’s possible, but it does not sound very skeptical.  To a neutral reading by someone who’s not you, it tends to come off very differently than you say you intend.

(Note:  OP is currently unedited.)
hero member
Activity: 1008
Merit: 702
July 30, 2022, 05:15:04 AM
#34
Am not terrifically naive or spamming for a scam here. I don’t promote or appreciate scammers in anyway. I posted it in order to verify the veracity of those testimonials and to protect myself and other people (especially newcomers) not to fall victims of such.

So, why did you include the type of contact information that these types of scammers seek to advertise—which they often advertise by slipping into other discussions, while pretending it’s not theirs?

That was naïve at best.  I suggest that you edit OP to redact the e-mail address.

I supplied the contact information only to identify the address of such people if one were to come across that. There is no other purpose but this. I will modify the OP and remove the contact information if there is any chance that this may lead newcomers astray and fall for such again.
copper member
Activity: 630
Merit: 2614
If you don’t do PGP, you don’t do crypto!
July 30, 2022, 05:04:16 AM
#33
Am not terrifically naive or spamming for a scam here. I don’t promote or appreciate scammers in anyway. I posted it in order to verify the veracity of those testimonials and to protect myself and other people (especially newcomers) not to fall victims of such.

So, why did you include the type of contact information that these types of scammers seek to advertise—which they often advertise by slipping into other discussions, while pretending it’s not theirs?

That was naïve at best.  I suggest that you edit OP to redact the e-mail address.
hero member
Activity: 1008
Merit: 702
July 30, 2022, 04:43:38 AM
#32

Is OP intentionally spamming for a scam here, or just terrifically naïve in a way that accidentally promotes a scam?

Would a newbie inquiring in good faith so smoothly slip in this breathless testimonial in the middle of an ostensible question, and conveniently just so happen to include a bad link plus a scammer’s contact address where desperate newbies can get scammed? 🤔

Am not terrifically naive or spamming for a scam here. I don’t promote or appreciate scammers in anyway. I posted it in order to verify the veracity of those testimonials and to protect myself and other people (especially newcomers) not to fall victims of such.
hero member
Activity: 1680
Merit: 845
July 30, 2022, 03:04:22 AM
#31
Quite sketchy looking website filled with ads. Bitcoin is not PayPal mate, once it's sent, it's over. Nothing you can actually do to recover your funds. As others have already mentioned, Bitcoin is pseudo-anonymous, even someone with little experience could use a mixing service, such as Chipmixer, and avoiding any ties with the stolen/compromised funds.
Things have been very simple with the innovation, and the ease of creating a wallet is made through different applications. So, usage of mixing services is not at all big deal. Stolen funds can be recovered only by the government agencies and this too happens when their arises suspicion.
That's not the case for the average Joe that got his funds stolen, though. Even government officials may have trouble recovering stolen cryptocurrencies, however, there are a few instances of retrieving stolen Bitcoin. One of them is the robbery of 120,000 Bitcoin after breaching the Bitfinex exchange in 2016, only 94,000 was repossessed though.

Source: https://www.bbc.com/news/world-us-canada-60310783
legendary
Activity: 2646
Merit: 1106
DGbet.fun - Crypto Sportsbook
July 29, 2022, 06:25:46 PM
#30
Quite sketchy looking website filled with ads. Bitcoin is not PayPal mate, once it's sent, it's over. Nothing you can actually do to recover your funds. As others have already mentioned, Bitcoin is pseudo-anonymous, even someone with little experience could use a mixing service, such as Chipmixer, and avoiding any ties with the stolen/compromised funds.
Things have been very simple with the innovation, and the ease of creating a wallet is made through different applications. So, usage of mixing services is not at all big deal. Stolen funds can be recovered only by the government agencies and this too happens when their arises suspicion.
copper member
Activity: 630
Merit: 2614
If you don’t do PGP, you don’t do crypto!
July 29, 2022, 06:06:43 PM
#29

Knock off the condescension from your state of ignorance.  I am pretty sure that most people calling out a scam here are perfectly well aware of that.  Are you aware that that only happened because after an intensive, expensive, years-long investigation, the U.S. Federal police found that the persons holding the coins had a massive failure of basic opsec?  Their private keys were floating around in the clouds, LOL.  That is tantamount to observing that if a hacker steals coins, the hacker can also get hacked to steal the coins back.  N.b. that the police did not and could not undo any Bitcoin transactions.

The fact remains:  Bitcoin transactions are irrevocable.  Stolen coins cannot be recovered.  Without exception, anyone offering a service to “recover” stolen bitcoins is a scammer.
hero member
Activity: 2660
Merit: 651
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July 29, 2022, 05:11:01 PM
#28
No, you cannot recover any bitcoin after doing a transaction, and no matters even if the bitcoins are stolen from someone because that's decentralized and cannot be controlled by anyone to check if the bitcoins are stolen and get them back to that person that's why you see most people are saying any bitcoin transaction is irreversible and cannot be reversed in any condition even if the bitcoin is getting used by a terrorist still you cannot do anything about and all they can do is to track the transaction and try to trace everything to catch their red hand otherwise and in any condition that's impossible to do.
First, this topic was about online scammers using the idea of helping people who are victims of crypto scammers to get back their lost coins.
Yes, Bitcoin is decentralized but stolen BTC can still be recovered however, it all depends on the knowledge of the scammer itself about the use of privacy service.
Are you unaware of the news about the suspect of the fund which was stolen from the exchange Bitfinex?
hero member
Activity: 1680
Merit: 845
July 29, 2022, 05:04:53 PM
#27
Quite sketchy looking website filled with ads. Bitcoin is not PayPal mate, once it's sent, it's over. Nothing you can actually do to recover your funds. As others have already mentioned, Bitcoin is pseudo-anonymous, even someone with little experience could use a mixing service, such as Chipmixer, and avoiding any ties with the stolen/compromised funds.
full member
Activity: 1582
Merit: 132
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July 29, 2022, 04:38:16 PM
#26
What really impressed me about the post was the comment section, where readers shared their experiences utilizing bitcoin. One of the commenter named Paul Krebs described how he lost his bitcoin to a bogus blockchain.com imposter on Facebook, where they contacted him as blockchain official support. They gained access to his blockchain wallet, and 7.0938 BTC were taken. However, he claimed that the bitcoin was returned after he emailed a recovery expert with contact address - BLACKJOCKER10x @ PROTONMAIL COM. Different professionals who aid in retrieving stolen bitcoin were suggested by other commenters.
For some reason, I feel that an incident like this is fake and the possibility is very small.
When someone loses their Bitcoin because it is stolen, then their chances of getting it back are very small. It could be that they have transferred to another wallet and sold it in an exchange. Moreover, if someone can recover the Bitcoin, doesn't that mean that person also hacked the thief's wallet? And if this is the case, do they really want to help rather than the Bitcoin they get for themselves?
Moreover, if the victim is actually asked for a certain fee for the recovery, this could even be another type of fraud.
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