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FBI Seizes Fraudulent Cryptocurrency Recovery Companies: What You Need to Know
On June 26, 2024, the FBI took decisive action against fraudulent cryptocurrency recovery websites, including MyChargeBack.com, PayBack Ltd, Funds Back Ltd, and MoneyBack Ltd. This seizure highlights the importance of choosing licensed and regulated recovery services to avoid scams. Initially established to help victims of online fraud, MyChargeBack and similar companies misled clients with false promises and high fees. The FBI's comprehensive investigation and subsequent website shutdown underscore the need for stricter regulations in the industry. Victims are urged to stop payments, gather evidence, report to authorities, seek legal counsel, and choose reputable recovery services like CyberClaims for assistance.