Crypto scam victims can now heave a sigh of relief. Popular crypto wallet MetaMask has recently partnered with Asset Reality, a London-based specialist in digital asset scam investigations and recovery, to facilitate helping scam victims with getting back their stolen crypto assets.
According to MetaMask, the collaboration with Asset Reality is “an industry-first approach in improving digital asset recovery.”
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MetaMask And Asset Reality Join Forces
MetaMask currently has 30 million active users per month and aims to safeguard the privacy and security of its users by taking a global and advanced approach because traditional recovery processes can be tedious, expensive, and time-consuming.
Asset Reality invites all victims of scams or fraudulent operations to come together to enable a large-scale crypto forensic investigation for free to users of MetaMask. On the other hand, users will have to cover the legal fees once they decide to escalate and file criminal charges.
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
But, the two firms will help out when the legal costs become unbearable by leveraging a group arrangement to spread the costs.
More companies express their intention to participate and help crypto scam victims, such as Consensys, a blockchain analytics firm, which will also be tapped into for covering the large-scale crypto scams.
MetaMask will be providing users with an interface to report any crypto scams. Then Asset Reality will step in to keep users in the loop with the status of the cases against cybercriminals in the crypto space.
Crypto total market cap at $1.19 trillion on the weekend chart | Source: TradingView.com
Crypto Scam Victims Need To Come Out
MetaMask co-founder Dan Finlay believes it’s extremely important for scam victims to file complaints even if it’s a relatively small amount, to begin with. This is pivotal to accelerating investigation, prompting proper and speedy legal actions.
Crypto scams have swindled or stolen hundreds to millions of dollars in crypto value. It has been an emotional and mental torture for victims of these crypto scams and hacks online, mainly because they feel stuck or in a vacuum while the perpetrators are mapping out the next attack. It has been tormenting on the financial, physical, and emotional levels.
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Speedy recovery of stolen digital funds is now possible with the new solution or mechanism that MetaMask and Asset Reality have in place. It aims to heighten the security levels of the Web3 ecosystem. The strategy includes educating users about crypto hacks and scams, enhancing security protocols, and upgrading the backup of digital assets.
Featured image from KSLA, chart from TradingView.com