What to do if A Scammer’s Bitcoin Addresss is Discovered?5.43

In the world of cryptocurrency, scams are more apparent now than ever before. Even if one were to successfully identify the wallet address of a known scammer, there is no real option to retrieve the money. It highlights a big problem in this industry, although there are some steps which can be taken to achieve a favorable outcome.

Depending on the nature of the scam in question, getting the wallet addressed flagged is always an option worth pursuing. On the Ethereum blockchain, numerous wallet addresses are flagged as fraudulent or scams, primarily because they were used for nefarious purposes. This is equally possible with other addresses as well, even though it might not necessarily be visible on a block explorer.

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