Everything About Crypto Hunters and How to Avoid Getting Scammed in A Crypto Coin Exchange
Thousands of dollars’ worth of cryptocurrency is stolen or lost every year in crypto coin exchange. Around 20% of the 19 million Bitcoins in circulation are deemed irretrievably lost. Hacked cryptocurrency wallets or forgotten passwords prevent users from accessing their funds indefinitely.
Fortunately, crypto hunters are professionals who can help you recover your missing coins. In this article, we’ll be discussing everything you need to know about crypto hunters and what they do, and how to avoid getting scammed in crypto coin exchange transactions.
Overview of Crypto Hunters and What They Do
As the name implies, a crypto hunter searches for and recovers lost or stolen cryptocurrencies during the crypto coin exchange. Crypto hunters are mainly computer programmers, or others, who work in a similar field.
To complete their tasks, crypto hunters use a variety of programs and equipment, ranging from specialist software to supercomputers that generate thousands of password combinations. To assist clients in retrieving their cryptocurrencies, some deploy hacking techniques like those used by “normal” hackers.
A brute-force assault, in which millions of passwords are tested in rapid succession in order to crack a wallet, is one way this is done. The crypto hunter usually charges as much information as possible regarding the wallet. Any existing information can cut the time it takes to break into a wallet in half. However, if no information is available, a crypto hunter may conclude that the wallet is unrecoverable (due to existing computing limitations and how long it would realistically take to crack the password or otherwise).
If the issue is with malfunctioning hardware, such as broken hard drives or SSDs, Crypto hunters also offer exclusive repair services using in-house equipment.
Although most investors are looking for lost or misplaced Bitcoin or Ethereum, crypto hunters can help with a variety of cryptocurrencies, including Dogecoin, Litecoin, and Tether, a stablecoin. Some now help clients in recovering stolen NFTs.
Different Types of Crypto Hunters
One major type of crypto hunters are companies/people who use strategies like those used by hackers to steal bitcoins. They generate millions of passwords, which they test in a wallet until the right one is found. This method works for both retrieving a password and repairing a corrupt wallet.
Other services they provide include searching for and accessing passwords in text files. It charges a modest traffic fee, has a high success rate and takes a few days in this situation.
But, while we’ve focused on computer literates and learned about cryptocurrency, another category of crypto hunters can be helpful.
I present to you crypto hypnotists. Crypto hypnotists use psychological tactics to extract passwords from people’s subconscious minds. They employ hypnosis to figure out what they might have done to cause it.
If you forget your wallet password, they can look for certain information that will help you remember it. Another of their many services is to look for traces of criminals and scammers to whom you might have lost your cryptocurrencies during a crypto coin exchange transaction. In this instance, they’ll have to deal with the country’s officials to get the money back. They’re looking for a way to lock down those wallets so that the coins can’t be spent.
How To Avoid Getting Scammed During a Crypto Coin Exchange Transaction
How can you avoid being a victim of a cryptocurrency scam? Before you go all-in on Bitcoin, Ethereum, or other digital currencies, there are a few safety practices to always follow to avoid getting scammed while you carry out crypto coin exchange trading.
- Don’t believe everything you’re told. Examine any claims made about investment, especially if they appear too good to be true or promise huge returns in a short period.
- Do not trust anyone who contacts you personally, whether a government official, a public personality, or a stranger, and asks for bitcoin payments or offers you an “investment opportunity.”
- Never give out your bitcoin wallet’s private key or seed phrase to anyone and keep that information offline in a cold wallet.
- Whenever possible, enable two-factor authentication on your cryptocurrency wallet and exchange. However, as we witnessed when Coinbase was hacked, this is not a foolproof method.
- Check the URLs of websites twice and three times. When trying a phishing scam, scammers will replicate the URL of a valid site and replace letters and numbers, such as an “l” for “1” or a “0” for the letter “O.”
- Any offer that requires an upfront cost should be rejected, regardless of the amount, especially if the price must be paid in cryptocurrencies.