Unmasking Cryptocurrency Fraud: Recent Case Breakdowns by T&H Consulting

Cryptocurrencies have gained significant traction worldwide, and their impact on the market is undeniable. The global cryptocurrency market size reached an impressive USD 4.67 billion in 2022 and is projected to experience steady growth with a CAGR of 12.5% from 2023 to 2030. Moreover, the global cryptocurrency market cap surpassed USD 800 billion in 2022. However, lurking in the shadows, cryptocurrency fraud schemes are also growing, posing a concerning and escalating threat.

At T&H Consulting, we are dedicated to shedding light on these illicit activities, assisting victims, and supporting legal avenues in their pursuit of justice. Today, we’d like to share some of our most recent cases:

Case 1: A Fake Trading Platform and a Fraudulent Cryptocurrency Exchange

A seemingly legitimate trading platform lured an Iranian citizen, residing in Portugal. Attracted by promises of impressive profits, he began making substantial payments. However, when he endeavored to retrieve his investments, he encountered persistent obstacles.

Recognizing the troubling indicators, he turned to the expertise of T&H Consulting. Upon thorough investigation, our team discerned that his funds had been funneled to a cryptocurrency exchange that had since ceased operations, along with another suspect website. Delving deeper into cryptocurrency behavior of the exchange, it became evident that the exchange itself was complicit in fraudulent activities in collaboration with the investment platform. Armed with this potent evidence, T&H took the forefront, laying out a persuasive case before the client’s bank.

After months of meticulous deliberations, the bank conceded to the scam’s veracity, granting the client a recovery of 60% of his losses. Yet, the battle is not concluded; T&H persists in its endeavors to reclaim the remaining funds for the client along with law enforcement of Portugal.

Case 2: Empowering Law Enforcement with Cryptocurrency Fraud Tracing Reports

The allure of digital currencies often comes with a false sense of security, leading many to believe in the complete anonymity of their transactions. One of our clients, who held his assets in one of the largest cryptocurrency exchanges, found himself in a precarious situation when a significant transfer he initiated raised suspicions.

Recognizing the gravity of the situation, he approached T&H Consulting for a thorough examination of the case. Our expert team immediately set out to dissect the intricacies of the cryptocurrency movements. By analyzing the transaction patterns and cross-referencing with known markers of dubious activities, we were able to piece together a comprehensive narrative.

This investigative journey culminated in a detailed cryptocurrency intelligence report. It provided insights into the transaction’s path, potential suspect entities, and their affiliations. The document proved invaluable to law enforcement in uncovering this cryptocurrency fraud group. Armed with our findings, the police requested the involved cryptocurrency exchanges to disclose all KYC (Know Your Customer) information related to the suspicious wallets and transactions.

Case 2: Empowering Law Enforcement with Cryptocurrency Fraud Tracing Reports

The collective efforts bore fruit when law enforcement intercepted the suspects, seemingly on the move, at a border checkpoint, based on the KYC details provided by the exchange. Our report played a pivotal role in their apprehension, providing the police with irrefutable evidence of their illegal activities. This case underscored the effectiveness of combining advanced cyber analytics with traditional policing, highlighting the need for collaboration in addressing the challenges posed by cryptocurrency frauds.

Case 3: Chargeback against Cryptocurrency Exchanges

In the intricate maze of the cryptocurrency sphere, another client found himself ensnared by a counterfeit promise. Lured into sending his funds to what seemed like a lucrative platform, he believed he was on the path to substantial profits. Instead, specific cryptocurrency exchange channeled his funds, sending them off to a dubious platform.

Determined, T&H Consulting sprang into action, reaching out to the implicated exchanges. Our deep dive revealed some unsettling truths: the entities which had received the client’s funds lacked proper registration. To compound the issue, these exchanges had ceased operations, and our client had never actually established accounts with them.

Case 3: Chargeback against Cryptocurrency Exchanges

Armed with this irrefutable evidence, T&H approached the client’s bank, presenting a strong case for a chargeback. Our team promptly furnished the bank with detailed responses, providing the further elucidation they needed. Their verdict, two months later, was a triumphant one for our client: a full reimbursement of his losses.

Case 4: The Web of a False Trading Platform and a Cryptocurrency Fraudulent Exchange

Cryptocurrencies, with their vast potential, also harbor dark corners filled with deceptive entities. Another client, lured by the allure of a trading platform, soon found his assets ensnared in a complex web. T&H’s meticulous BTC tracing peeled back the layers, revealing that the client’s investments were not confined to one, but were dispersed across multiple fraudulent platforms.

 Case 4: "The Web of a False Trading Platform and a Fraudulent Exchange"

The revelations were even more startling. This exchange, previously perceived as established and legitimate, became deeply embroiled in these underhanded dealings. Undeterred, T&H embarked on a rigorous negotiation process. The outcome was a testament to our tenacity: one of these cryptocurrency fraud platforms conceded, agreeing to return 50% of our client’s investments.

The world of cryptocurrency fraud is vast and intricate. At T&H Consulting, our commitment to shedding light on these dark corners remains unwavering. If you ever suspect dubious crypto activities or require expert insight, contact us without hesitation. Stay informed and safe by following our latest insights and cases on our social media platforms.

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