TITLE: Do you know what to do if you’ve been scammed?
HOST: Elijah Jackson, MyChargeBack Digital Marketing Manager
WHEN: Thursday, September 8 at 12:00 PM New York, 5:00 PM London, 8:00 PM Dubai
Cryptocurrency needs to be regulated. There have been over 46,000 victims of crypto fraud in the first six months of 2022 alone. Cryptocurrency markets have also tanked, with millions of retail investors losing everything. To address the concerns of crypto investors, our previous MyChargeBack webcast focused on the challenges associated with regulating cryptocurrencies and the efforts being made to address them.
After a four-year battle, W.S., a MyChargeBack client from New Zealand, recovered all $300,000 she had paid to a fake cryptocurrency investment scam. The scammers laundered her money, the banks resisted, and it was a battle on a global scale. Complicating the matter was that while the scam investment firm claimed to be in the UK, its banks were in Slovakia, Hungary and Hong Kong. Ultimately, we appealed to a financial regulator and the police and won.
This is a must-read case study!
The fact that the popular crypto platform Robinhood was hit with a $30 million fine by the New York State Department of Financial Services may have a silver lining. Although it’s clear that even crypto platforms with a strong reputation can have lapses, the action demonstrates the will of regulators to take action in crypto cases. Read how the news may affect you in this new MyChargeBack Industry Insight by Evan Spicer, our Director of Cryptocurrency Investigations.