What should I do if my cryptocurrency is stolen or defrauded?

Every day, Tokenview receives global users' feedback about incidents of cryptocurrency being lost or stolen. When users encounter scam, the first reaction is often to freeze the stolen cryptocurrency and retrieve the stolen cryptocurrency. Users asked how they could understand the risks of their transactions before transferring cryptocurrencies in and out. In order to prevent users from being defrauded, Tokenview has summarized some experiences from users' problems, needs and processing methods, and everyone is welcome to discuss them.

First, it is recommended to transfer the remaining assets from the stolen wallet. Assets are including main blockchain cryptocurrencies such as ETH, TRON, SOL, BSC, etc., and tokens such as USDC, USDT, etc., to a new wallet or safe one. At the same time, do NOT use the stolen wallets to avoid further losses of cryptocurrency. If your wallet is stolen without any warning, the mnemonic phrase and private key of the stolen wallet are probably NO longer safe. Please do NOT import the private key of the stolen wallet into a new wallet again.

Second, please review the following scenarios that may result in the loss of crypto assets,

1. Leaking important information such as private keys and mnemonic phrases through copying, screenshots, emails, mobile phone communications, social networks, video conferencing, live, etc.

2. Wallet apps, plug-ins and other software are imitation, fake and fraudulent products. The product you downloaded from an untrusted social network, email, or a new contact, is not a genuine product. Some users have reported using fake wallet software, but it looks exactly the same as the genuine product. Once your private key is generated or imported, your assets may be stolen.

3. Click on suspicious links, possible phishing links, unfamiliar websites, inadvertent wallet apps, wallet plug-ins to obtain wallet authorization, payment links, etc. These links steal your secrets.

Third, on blockchains such as Tron and Ethereum, you have been phished and received a small amount of cryptocurrency from an unknown address. You have transferred cryptocurrency to an unknown address. These operations are phishing fraud, resulting in smart contract is executed and your account is authorized, multi-signed, or stolen.

Best Practice 1, Tokenview is a multi-crypto blockchain explorer. Users often use Tokenview to query cryptocurrency wallet balances, transaction details, historical bills, smart contracts, on-chain data, etc. When you transfer crypto to or from exchanges such as Binance, Coinbase, OKX, etc., DEXs such as Uniswap, Raydium, etc., or wallets such as Metamask, etc., use Tokenview to query the wallet address and transaction hash to ensure that the transaction actually occurred on the blockchain, it is a best practice to avoid suspicious transactions or being scammed.

Best Practice 2, although Tokenview CANNOT transfer out / in cryptocurrency or freeze, users can use Tokenview to track the transaction history of cryptocurrency. When a cryptocurrency is lost or stolen, users use Tokenview to track the lost cryptocurrency and find out which addresses the cryptocurrency went to.

Best practice 3, if your lost cryptocurrency is USDT issued by Tether, please first use Tokenview to track which wallet address the lost USDT was transferred to, and then you can try to contact Tether. For the banned wallet address list of stablecoins such as USDT and USDC, please visit USDT banned list and USDC banned list. About what the USDT blacklist, please read How to know Tether blacklist USDT?

Best practice 4, to tag those scam wallets to avoid similar incidents from happening again. Tagging scam wallets is also helpful to the development of the cryptocurrency industry. For information on how to tag a crypto wallet, please read How to Tag a Crypto Wallet Address?