Approx. $545 millions of Bitcoin expected to be lost in 2022: shows ways people could lose coins

Cyber Forensic Specialist

Cyber Forensic Specialist

As scammers succeeded in stealing millions in the past year, they are eyeing millions more in 2022. Experts explain how fund recovery will be a valuable weapon.

crypto market is volatile enough for people to make mistakes even when they are avoidable”

— Timothy Benson

SOFIA, BULGARIA, May 3, 2022 / — New technologies tend to bring new hurdles and obstacles. This is definitely true in the case of the cryptocurrency space. In new research that was conducted at the beginning of this year, experts forecasted that over $545 million worth of Bitcoins are at risk, with the majority of funds anticipated to be lost forever.

As the digital currency world faces a grave challenge ahead of the year, fund recovery experts are joining the quest to take a lead against scammers., a cyber forensics service for online scam victims, explored the most common ways people have or can lose their digital funds in the coming years, such as forgetting passwords or sending transactions to wrong addresses.

Crypto asset recovery firm,, which investigated hundreds of crypto scams, explains “crypto market is volatile enough for people to make mistakes even when they are avoidable.”

This is the kind of error that made an Oklahoma resident suffer a loss of $1 million in Bitcoins in December 2021. Identified by the name of Toddler, the resident was deeply interested in the crypto space and had made hundreds of mini transactions till now.

Until recently, he ended up losing access to his Bitcoin wallet after giving its access to a so-called online friend.

The scammer convinced Toddler to share his private key, saying that his account was hacked and needed to be secured immediately.

Timothy Benson, who works at the same firm, says “understanding ways people could lose their financial assets to scammers is crucial today in…


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