MetaMask announced last Thursday, May 26, a partnership with the Asset Reality team, for the creation of a mechanism to enable the recovery of assets stolen through scams.
To assist in the recovery of assets, the Asset Reality team announced that they will offer:
Assistance to multiple victims with the aim of joining forces and initiating a broader investigation against the scammers.
Acting as a case manager through the coordinated interaction of many victims, to generate a better chance of recovering funds.
Today we’re happy to announce that we’ve partnered with Asset Reality (@asset_reality) to give victims of cryptocurrency scams a chance at recovering funds that have been stolen.
— MetaMask 🦊💙 (@MetaMask) May 26, 2022
What is Asset Reality?
Asset Reality is the first platform that provides services and tools to public and private sector companies that investigate, manage and recover assets.
The platform assists different crypto companies in supporting victims of fraud all the way to enabling governments to manage and realize portfolios of seized assets.
In addition, Asset Reality partnered with leading digital custodians, blockchain companies such as Metamask and asset recovery professionals to provide users with easy access to services.
We’ve partnered with @metamask!
We’ll be helping victims of crypto-related fraud to recover their stolen digital assets in an industry-first approach to improving virtual asset recovery.
— Asset Reality (@asset_reality) May 26, 2022
What are the top cryptoasset scams?
There are various types of scams within the crypto world, each with a degree of complexity.
Among the main crypto scams we find:
- User extortion: generally this type of scam is carried out through calls or emails informing that the scammer has hacked you and has access to photos or personal information.
- Phishing: it consists of sending links that take you to familiar “copies of websites”, where your data is stolen when you try to access the supposed application or service used.
- Malware: cryptocurrency viruses are designed to make small modifications to your system, such as a virus that changes the addresses of the wallet to which you want to send a transaction when pasted from the user’s clipboard.
- Ponzi or pyramid schemes: these are a simple type of scam in which the capital of future depositors is used to pay off previous investors, offering a high return in exchange for upfront deposits.
- Free gifts or prizes: usually carried out by offering a certain amount of money if you connect your wallet or leave relevant information on a certain website.
- Pump and Dumps: this is one of the most common scams carried out by large groups of buyers, who target a coin with low capitalization, in order to increase its price and create FOMO.
How to avoid cryptocurrency scams?
There are different ways to protect yourself against scams involving cryptocurrencies, for this reason we show you some of them:
- Never give your passwords, private keys or information of any kind through emails or text messages.
- Do not click on suspicious links.
- Be careful about the programs you download and the ones you allow to have “administrator access” on your device.
- Do not trust projects that encourage recruiting new investors to enjoy higher profits.
- Try to deal with the most popular exchanges/wallets.
- Use two-factor authentication.
- Consider using a cold wallet for your money.