Recovering Stolen Crypto from Exchanges: Your Legal Options
NEW YORK, Nov. 14, 2023 /PRNewswire/ -- Dilendorf Law Firm, based in New York and focused on cryptocurrency and class action disputes, is investigating cases involving individuals who lost funds due to cyberattacks and fraud on major U.S. cryptocurrency exchanges, regardless of the timing of the theft.
U.S. consumer protection and cybersecurity laws stand in favor of individuals seeking to recover stolen cryptocurrency from exchanges, regardless of whether they've fallen victim to sim-swapping, phishing attacks, or other forms of scams. The burden of proof is on a cryptocurrency exchange to prove the authorization of transactions, regardless of whether a customer's account has been compromised.
Regulated cryptocurrency exchanges are accountable for ensuring the security of consumer funds against well-known risk vulnerabilities and upholding compliant ani-fraud detection systems.
"We empathize with the distressing impact that cyberattacks and scams can inflict on individuals and their financial security. Our core mission is to extend legal guidance and support to those who have suffered financial losses due to these malicious activities.
The U.S. Government and some of the states have entrusted cryptocurrency exchanges with financial licenses to enhance their operation in a secure manner that prioritizes consumer protection," said Max Dilendorf, the founding partner of Dilendorf Law Firm.
Individuals whose funds have been stolen from a cryptocurrency exchange are encouraged to contact Dilendorf Law Firm for guidance in exploring potential avenues to recover their losses. Additionally, it's crucial to consider asset protection when storing digital assets. For instance, one effective approach is transferring a digital asset portfolio into a Domestic Asset Protection Trust located in states like Nevada or Wyoming to enhance safety and incorporate long-term estate planning considerations.
Irrespective of the circumstances surrounding theft from a regulated cryptocurrency exchange, the potential to recover the funds remains a viable option in accordance with the applicable consumer protection and cybersecurity regulations that govern exchanges.
The firm's team of cryptocurrency lawyers will evaluate each case individually, providing tailored guidance and support throughout the legal process.
Dilendorf Law Firm, PLLC
SOURCE Dilendorf Law Firm