Cryptocurrency Q&A Can a bank reverse a transaction if scammed?

Can a bank reverse a transaction if scammed?

Maria Maria Mon Sep 02 2024 | 5 answers 1186
Good day, I have a pressing question regarding cryptocurrency transactions and fraud protection. Suppose I, a vigilant cryptocurrency user, have unfortunately fallen victim to a scam. My concern lies in whether the bank involved in the transaction has the authority or capability to reverse the fraudulent transaction, especially given the decentralized and often irreversible nature of cryptocurrency transactions. I understand that traditional banking systems offer certain safeguards, but I'm curious if similar measures apply to the digital currency realm. Could you shed some light on this matter? Thank you in advance for your clarification. Can a bank reverse a transaction if scammed?

0 answers

| Topics at Cryptocurrency Q&A

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users

The World's Leading Crypto Trading Platform

Get my welcome gifts