With the increasing number of computer crimes, you may have heard the word digital currency many times. Before we examine the duties of a digital currency lawyer, we must examine what digital currency is and why and how fraud in this field is increasing day by day?
What is digital currency?
Digital currency is a special form of digital money that is designed based on the knowledge of cryptography. Most cryptocurrencies rely on blockchains to benefit from basic features such as transparency, decentralization, and immutability.
In fact, the decentralized nature of digital currencies means that no group, institution or organization will be able to control it. Cryptocurrency has made it possible for people to transfer digital currencies to other people without the intervention of any intermediary. There is no need to open an account or services of intermediary and banking organizations to move and transfer digital currency.
Digital currencies are very similar to dollars and other currencies that are created and distributed using different mechanisms. The production process of some of these currencies such as Bitcoin is done using mining. All coins are put into the network as mined from scratch.
Who is a digital currency lawyer?
As you know, there are no clear laws in the field of cryptocurrency, so a digital currency lawyer is required to have sufficient knowledge and expertise in the field of digital currencies and the cryptocurrency market. The lawyers in this field have updated information and are in accordance with the latest changes. They are responsible for guiding their clients by providing the best solutions in the shortest possible time.
In the following, we must say that the title of digital currency lawyer or currency claims lawyer refers to people who are specialized and professional in the field of digital currencies and have sufficient knowledge in this field. The noteworthy point is that the lawyers who work in this field enter this field based on their mastery and experience; In other words, we must say that, like other legal fields in Iran, a specialized attorney’s license is not provided for this matter.
What are the duties of a digital currency lawyer?
The digital currency lawyer has the duty to receive all the necessary information from the client after accepting the mentioned case. Then make the best decision according to the existing rules and conditions. As we mentioned before, there are no specific laws in the field of digital currencies and cryptocurrencies, so the currency litigation lawyer has the duty to choose the best possible solution to bring the case to a conclusion.
What claims are related to the lawyer?
Usually, most lawsuits and crimes that happen in the field of cryptocurrencies are pursued by a digital currency lawyer. Lawyers who practice in this field pursue cases related to money transfer or currency transfer. For example, a deposit or withdrawal may have been made to a digital currency exchange, but it was not registered in the user’s panel or wallet. Users can follow up on this issue and complain to the exchange in question.
Another point that we should mention is that most of the frauds in the field of digital currency are carried out by opportunistic and profit-seeking people, to some extent it is possible to follow up; But you should note that due to the decentralization of a large number of digital currencies, the lack of clear laws in all countries, and the lack of necessary knowledge in the field of cryptocurrencies among people and other parameters that exist in this field, there is a possibility of loss. There will also be capital or not getting the desired result in the cases.
For example, if a person lives abroad, it is possible for them to make Dump and Pump by making fake tokens. In this case, you cannot trap them easily. In case of fraud or theft of digital currency in other countries, the digital currency lawyer cannot take specific actions. Because the lawyer cannot follow the transfer of money or the transfer of currency, therefore your case will not be successful.
What are the different types of digital currency scams?
As we mentioned before, in recent years we have seen a lot of fraud and abuse in the field of digital currencies. Here are the most famous scams:
Fake wallets and fake exchanges
Ponzi, pyramid, network projects
Pump and dump
Creating fake email and phishing pages
Offering offers such as prizes and free digital currencies
Selling fake, worthless and pointless tokens
Adding anonymous tokens to users’ wallets
Using fake support teams for the purpose of fraud
Unfortunately, it can be seen that many people are deceived by the above methods and lose their capital in less than a second; Therefore, we can conclude that people or lawyers who are not familiar with these matters cannot enter these types of cases.
How to complain about digital currency exchange
In some cases, we see that there are sites that operate in a fake way; That is, the appearance of these sites is in such a way that digital currency investors think that they can recognize that site as a valid digital currency exchange. These people provide their information to these sites. Fake exchanges commit crimes by using digital currencies that belong to others and manipulating them in buying and selling cryptocurrencies.
In this situation, the investor has the possibility to file a complaint against digital currency exchanges. Consulting with a digital currency lawyer can help them recover much of their lost capital. If the digital currency exchanges do not provide them with digital currency for the money they receive from users, people can pursue these issues legally and criminally.
If people design a site using deceptive measures and with the aim of obtaining digital currencies that belong to others and use that site to take over other people’s funds, these actions can be pursued under the title of fraud. The crime of digital currency theft is pursued through the criminal court. In this situation, one of the duties of a foreign exchange lawyer is to file a complaint against the exchange and recover the lost property of his client through the criminal court.
Digital currency scam
This is done using various methods such as fake digital exchange, ransomware, Ponzi and cloud mining.
Ponzi scam refers to situations where fraudsters encourage users who have no information about digital currency to invest their property in this field or otherwise introduce people as investors. These practices may be familiar to you because they operate similar to pyramid schemes.
Another digital scam is cloud mining, where people are promised free bitcoin mining. Fraudsters in this method declare that users do not need to pay for the miner, but only need to pay the fee that is used to mine the cryptocurrency. In this form of fraud, users are not given any kind of password and their capital is taken over. This form of scams can be tracked down by a cryptocurrency attorney.
As you have noticed, there is a possibility of loss to investors in this area. There are always people who try to deceive people with criminal intent so that they can take over their foreign currency funds. To get familiar with the regulations and crimes, it is better to consult experienced and reliable lawyers in this field.
If you have lost your currency funds due to fraud, hacking of your account and theft of digital currencies, you can take legal action to restore your rights. If you entrust the follow-up of these cases to a digital currency lawyer, you can return the money that was defrauded from you with the help of his experience and talent.
The digital currency lawyers of Dadista Law Institute will help you claim your rights using their high knowledge and experience in this field. Pay attention to the fact that getting help from a lawyer in the field of digital currency crimes will allow you to get your property back.