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If you recently lost a portion of your savings or retirement nest egg to a cryptocurrency, forex, or binary options scam, an offer to recover your lost funds may sound very appealing. Unfortunately, for many victims of fraud, the offer may be another scheme that adds insult to injury. Recovery scams are a form of advance-fee fraud—when you are asked to pay upfront for the chance of getting a much bigger sum of money later. Recovery frauds target victims already harmed by other frauds.
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Instead of relying on unknown recovery services, consider reporting the initial scam to relevant authorities, such as law enforcement or Bitlife financial regulators.
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What steps can an individual take to thoroughly investigate and confirm the legitimacy of a company or person claiming to assist with recovering funds lost to a cryptocurrency, Chill Guy Clicker forex, or binary options scam, and what red flags should they watch out for during this process?
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