Cryptocurrency and Banking Expert Witnesses

Shaun H. Ruff

Last year, cryptocurrency was a national craze which took off due to the sudden popularity of Bitcoin and other cryptos. Many people are not aware of how long Bitcoin has been around and only took notice during that market surge. Traditional banks are somewhat apprehensive to the use of digital currency because of how long the current banking industry has existed. Established industries are quick to protect the bottom line, and this is especially true for banks. When cryptocurrency first came on the scene, they received attention from law enforcement. Cryptocurrencies were used on the Darknet to purchase a host of illegal items and services. Now more than ever, a bank expert witness should be consulted when dealing with potential crypto fraud.

Being Locked out of Accounts

There is an ongoing cryptocurrency case going on about the passing of a crypto CEO and consumers not being able to withdraw funds. This founder is the only individual who had access to passwords which would unlock customer accounts and allow them to make withdrawals. While it is not certain, a bank expert witness could help you determine the next steps in this improbable scenario. Cryptocurrencies use blockchains, and for the most part, they are impenetrable by law enforcement.

Being a Victim of Crypto Fraud

Since the cryptocurrency craze of last year, hundreds of new coins have entered the market. Some of these coins have value and a user community which can educate others on the future of a particular coin. There have also been instances of cryptos being created to steal money from others and completely disappearing from the marketplace. Bank expert witnesses may be able to help if you have been a victim of cryptocurrency fraud.

Investing is one of the primary methods of attaining wealth in this country. With this said, you should always consult a professional before venturing into this new financial territory.

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