Witty-Season-3914 Double Scam Recovery: Difference between revisions
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== About Crypto.com == | == About Crypto.com == | ||
"Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Exchange and Crypto.com DeFi Wallet." | |||
"CRYPTO.COM EXCHANGE. Trade with confidence on the world’s fastest and most secure crypto exchange." "The World’s Fastest Growing Crypto App" "Buy crypto at true cost. Buy and sell 250+ cryptocurrencies with 20+ fiat currencies using bank transfers or your credit/debit card." "Join 10m+ users buying and selling 250+ cryptocurrencies at true cost. Spend with the Crypto.com Visa Card and get up to 8% back. Grow your portfolio by receiving rewards up to 14.5% on your crypto assets." | |||
"Powered by cryptocurrency, the future of the internet: Web3 will be more fair and equitable, owned by the builders, creators and users. You." "We believe it is your basic right to control your money, data and identity." | |||
"Security First. Always." "Our commitment to our customers is built on trust. We believe that security and data privacy are the foundations of achieving mainstream cryptocurrency adoption." | |||
"While Crypto.com is the world’s fourth-largest crypto exchange, it has been pushing hard into U.S. markets in recent months, with stunts including viral advertisements featuring actor Matt Damon and a $700 million purchase of the naming rights to the Los Angeles Lakers and Clippers Arena." | |||
“Crypto.com is a leader in security and compliance, including our recent SOC 2 announcement,” said Jason Lau, Chief Information Security Officer of Crypto.com. "Crypto.com [recently became] the First Cryptocurrency Platform to Achieve SOC 2 Compliance, ISO27001, ISO27701, PCI:DSS 3.2.1 (Level 1), and Highest “Adaptive” maturity levels for the NIST Cybersecurity Framework and NIST Privacy Framework." Crypto.com "successfully completed the Service Organization Control (SOC) 2 Audit, conducted by globally recognized audit and consulting firm Deloitte, which affirms that Crypto.com’s information security practices, policies, procedures, and operations meet the SOC 2 standards for security, availability, confidentiality and privacy." | |||
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== References == | == References == | ||
<references></references> | <references> | ||
<ref name="crypto-5924">[https://crypto.com/ Crypto.com Homepage] (Jan 22, 2022)</ref> | |||
<ref name="crypto-5925">[https://crypto.com/about Crypto.com About Page] (Jan 22, 2022)</ref> | |||
<ref name="formula1-5926">[https://www.formula1.com/en/latest/article.formula-1-announce-crypto-com-as-inaugural-global-partner-of-the-f1-sprint.ozYI9zd0622tZyvroYhcM.html Formula 1 announce Crypto.com as inaugural global partner of the F1 Sprint series | Formula 1] (Jan 22, 2022)</ref></references> | |||
Revision as of 10:51, 13 March 2023
Notice: This page is a new case study and some aspects have not been fully researched. Some sections may be incomplete or reflect inaccuracies present in initial sources. Please check the References at the bottom for further information and perform your own additional assessment. Please feel free to contribute by adding any missing information or sources you come across. If you are new here, please read General Tutorial on Wikis or Anatomy of a Case Study for help getting started.
This is a global/international case not involving a specific country.
About Witty-Season-3914
Witty-Season-3914 is a working mother with two children[1][2] from Fort Collins, Colorado[1][3]. She has a strong financial education background[4] and has run a franchised brick-and-mortar business for 2 years[2][3][5].
About Crypto.com
"Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Exchange and Crypto.com DeFi Wallet."
"CRYPTO.COM EXCHANGE. Trade with confidence on the world’s fastest and most secure crypto exchange." "The World’s Fastest Growing Crypto App" "Buy crypto at true cost. Buy and sell 250+ cryptocurrencies with 20+ fiat currencies using bank transfers or your credit/debit card." "Join 10m+ users buying and selling 250+ cryptocurrencies at true cost. Spend with the Crypto.com Visa Card and get up to 8% back. Grow your portfolio by receiving rewards up to 14.5% on your crypto assets."
"Powered by cryptocurrency, the future of the internet: Web3 will be more fair and equitable, owned by the builders, creators and users. You." "We believe it is your basic right to control your money, data and identity."
"Security First. Always." "Our commitment to our customers is built on trust. We believe that security and data privacy are the foundations of achieving mainstream cryptocurrency adoption."
"While Crypto.com is the world’s fourth-largest crypto exchange, it has been pushing hard into U.S. markets in recent months, with stunts including viral advertisements featuring actor Matt Damon and a $700 million purchase of the naming rights to the Los Angeles Lakers and Clippers Arena."
“Crypto.com is a leader in security and compliance, including our recent SOC 2 announcement,” said Jason Lau, Chief Information Security Officer of Crypto.com. "Crypto.com [recently became] the First Cryptocurrency Platform to Achieve SOC 2 Compliance, ISO27001, ISO27701, PCI:DSS 3.2.1 (Level 1), and Highest “Adaptive” maturity levels for the NIST Cybersecurity Framework and NIST Privacy Framework." Crypto.com "successfully completed the Service Organization Control (SOC) 2 Audit, conducted by globally recognized audit and consulting firm Deloitte, which affirms that Crypto.com’s information security practices, policies, procedures, and operations meet the SOC 2 standards for security, availability, confidentiality and privacy."
This is a global/international case not involving a specific country.
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
Include:
- Known history of when and how the service was started.
- What problems does the company or service claim to solve?
- What marketing materials were used by the firm or business?
- Audits performed, and excerpts that may have been included.
- Business registration documents shown (fake or legitimate).
- How were people recruited to participate?
- Public warnings and announcements prior to the event.
Don't Include:
- Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
- Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.
The Reality
There is no service presently known to double invested funds from users.
What Happened
Witty-Season-3914 reports that they sent a transaction for 7,000 ADA to a scam address, and immediately noticed their mistake. They were able to contact the support on their Crypto.com exchange and get back their funds within 45 minutes.
| Date | Event | Description |
|---|---|---|
| January 11th, 2022 5:56:59 AM MST | Incident Posted On Reddit | Witty-Season-3914 reports on their situation that they fell for the doubling scam. "I am only posting it because I hope to get roasted, and because smart people are dumb too."[6] |
| January 11th, 2022 4:12:54 PM MST | Update Posted On Reddit | Witty-Season-3914 provides an updates post on Reddit, including confirmation that they successfully recovered their funds. "from the time i sent it, to the time i got it back was about 45 minutes."[7] |
Total Amount Lost
The total amount lost was reported as 7,000 ADA[6].
The closing market price for cardano on January 11th, 2022 was $1.19 USD[8].
Based on this information, the loss has been estimated at $8,330 USD.
Immediate Reactions
Witty-Season-3914 reports immediately realizing their failure and contacting crypto.com to retrieve their funds[6][7].
"Sent 7000 ADA to a sketch address that said they would double it… once i sent it i knew I [mess]ed up."
"it was a sick feeling."
"i tried calling and it referred me to the app chat."
Ultimate Outcome
Witty-Season-3914 reports a successful recovery of all funds within 45 minutes of their original payment[7].
"i don’t know how they got it back, i tried calling and it referred me to the app chat. i was able to get ahold of someone and within 10 minutes it was back in my account. from the time i sent it, to the time i got it back was about 45 minutes."
Total Amount Recovered
All funds were reportedly recovered within 45 minutes[7].
The total amount recovered has been estimated at $8,330 USD.
Ongoing Developments
There is nothing remaining to be concluded on this case.
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ 1.0 1.1 Witty-Season-3914 - "Family of 4 had 2 entrees, 2 pizzas, 2 cokes, bottle of wine" - Reddit"(Mar 10, 2023)
- ↑ 2.0 2.1 Witty-Season-3914 - "Own a franchised business that requires 10-20hrs per week" - Reddit (Mar 10, 2023)
- ↑ 3.0 3.1 Witty-Season-3914 - "I live in Foco. It is a franchised business, actual brick and mortar business." - Reddit (Mar 10, 2023)
- ↑ Witty-Season-3914 - "I found this by seeking out financial mentors in my early 20’s" - Reddit (Mar 10, 2023)
- ↑ Witty-Season-3914 - "Looking to sell our franchised Business. 2 years in operation" - Reddit (Mar 10, 2023)
- ↑ 6.0 6.1 6.2 Witty-Season-3914 - "I am only posting it because I hope to get roasted, and because smart people are dumb too." - Reddit (Mar 10, 2023)
- ↑ 7.0 7.1 7.2 7.3 Witty-Season-3914 - "from the time i sent it, to the time i got it back was about 45 minutes." - Reddit (Mar 10, 2023)
- ↑ Cardano Historic Market Price - CoinMarketCap (Mar 10, 2023)
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