What number to call if Bitcoin is stolen (Can stolen Bitcoin be recovered?)

What number to call if Bitcoin is stolen? What number to call if Bitcoin is stolen?

On August 19, 2018, Beijing police received multiple similar cases: hackers defrauded victims through channels such as SMS, WeChat, and Telegram groups. The attackers first send messages to the victims claiming to be traders or miners. After receiving the transfer, they immediately transfer the funds from the victim’s account to their own mobile phone. Then they disclose the private key to other users and let the fraudster control the account. This type of fraud is very popular, for example, hackers may require third-party service providers to provide relevant information (such as personal passwords) to access these servers. Generally, hackers can initiate lawsuits against the suspects using telephone numbers. If someone uses a phone number for phishing scams one day, it is likely to result in losses. For users who have invested in digital currencies, they also need to consult specialized lawyers on how to prevent such situations.

In response to this type of problem, the Beijing police has set up a “free” hotline for stolen Bitcoin, including assistance and contact from security companies, as well as help from the threat intelligence department.

Can stolen Bitcoin be recovered?

Today, Bitcoin has finally ushered in its third halving.

Since last year, the cryptocurrency market has experienced a turbulent market and prices have been continuously plummeting. However, after the price fell below $8,000 on May 11, 2020, the overall market liquidity has been significantly insufficient. Many investors believe that if they do not stop the loss in time or sell these currencies, they are likely to be trapped or even liquidated. However, some people say that “this drop was caused by the “hackers” stealing from a specific address using their private key.” So, how can users ensure the security of their assets? How can we protect our assets? First, why can’t Bitcoin be lost? It is mainly due to the large number of counterfeit coins and air coins on the Internet, which makes it easy for people to use them as scams or Ponzi schemes, resulting in significant financial losses and harming the legitimate rights and interests of ordinary people. For example, tokens on some platforms cannot be traded or circulated normally, so in most cases, users’ digital assets are at risk. In addition, some exchanges choose to close certain platform projects and shut down websites for the sake of improving regulatory transparency. Therefore, once this happens, it often leads to a series of legal disputes. Second, how to protect your property? Various software in mobile applications can access the virtual currency (such as Bitcoin, Ethereum) in the wallet. Of course, this issue often sparks controversy. Third, what are the differences between blockchain technology and traditional Internet? Many people now may consider BTC as a new way to store wealth or an alternative solution. However, there may be another major challenge in reality, which is whether you can have your own identity, that is, personal passwords and financial data. Most companies currently do not have the ability to possess such information. For example, Tencent’s subsidiary Tencent Cloud Storage Server has stopped service in late September 2016 after suffering two 51% attacks, and in early 2018, 360 also encountered an attack, eventually leading to the closure of some server equipment. Fourth, what is Bitcoin mining? Generally, the computing power generated during the mining process is very large and can easily become centralized servers. This is because mining requires a large amount of electricity and labor costs. However, if you want to obtain more Bitcoin rewards, you must buy a computer or two smart contracts. At the same time, mining difficulty is also a concern. Moreover, according to the current situation, as long as there is sufficient data support, mining profits can be maximized. Fifth, are Bitcoin miners special? In fact, Bitcoin is a distributed accounting method. It allows anyone to easily create an algorithm to determine the activity level of miners and automatically calculate how much Bitcoin they invest. Although mining pools themselves do not have many advantages, due to their decentralization characteristics, they have great advantages. Miners will keep a portion of the mined Bitcoin to maintain their own economic interests.