Beware of false asset recovery agents: CFAAR will never ask for your money

As prolific as those global statistics are, and with stolen funds rising by 7% in 2022 compared with the previous year, the emerging trend of victims of crypto theft being targeted by false asset recovery agents who attempt to trick them into parting with further money to recoup what was stolen is perhaps one of the more alarming methods of deception CFAAR is seeing.

What to do if you are unsure

One crucial factor that applies in 100% of matters is that CFAAR will never ask you to provide any payment. CFAAR, as an entity, does not carry out asset recovery work itself, so it will never direct you to pay an invoice or provide payment information, nor will it directly and proactively contact you if you have had cryptocurrency or other digital assets stolen.

CFAAR is a network that provides a platform for members, such as lawyers, regulators, fraud and asset recovery practitioners and other related professionals to share best practice in the services they provide to protect the victims of cryptocurrency and digital asset fraud, as well as to serve as an industry voice to advise governments, regulators and lawmakers when they are implementing safeguards for consumers in this arena.

While CFAAR works quickly and effectively to shut down fake websites and email accounts claiming to offer asset recovery services in its name, there is always a risk that new scammers emerge. If you have been contacted and you are unsure if the service provider is legitimate, please contact CFAAR through its website www.cfaar.io or visit the Committee page and directly contact a committee member through their respective company's official website or main switchboard.

Important things to remember:

• CFAAR will never ask you for payment. If you are contacted by anyone offering asset recovery services in CFAAR's name, do not provide any payment.
• CFAAR is a member network and does not directly provide asset recovery or legal services under its name.
• CFAAR's committee members can be found here: Committee (cfaar.io)