TurkishNY Radio reports that Xerberus Recovery, a prominent cryptocurrency risk rating platform, has launched a revolutionary tool called Siren. After months of rigorous beta-testing and continued development, this free tool aims to empower users in recovering from crypto scams, offering a beacon of hope for victims of fraudulent activities.
Xerberus Recovery: Empowering Users Against Crypto Scams
Siren, introduced by Xerberus Recovery, is designed to put control back into the hands of everyday cryptocurrency users. According to broader research, this innovative tool allows users to map and report any scams they encounter while exchanging coins on a network. Backed by a team of experienced attorneys, Siren offers users the ability to file lawsuits and recover their lost assets for a fee.
When a user reports a scam transaction, Siren generates a comprehensive on-chain report at no cost. This report details the precise movements of the defrauded coin or token, providing crucial information for legal proceedings. TurkishNY Radio team highlights that this report can then be forwarded to an expanding network of specialized law firms in London, who possess a deep understanding of Blockchain technology and are well-equipped to handle such cases.
Xerberus Recovery’s Siren stands out as the first one-stop shop for recovering tokens and money lost to scams.
Utilizing Xerberus’ Wallet Graph technology, Siren creates an algorithmic map of wallet transactions, illustrating the transfer of assets among affected wallets and identifying “bystander” wallets. This mapping helps in providing a detailed assessment of the scam’s severity and understanding the behavior of scammers to prevent future incidents.
Xerberus Recovery: Promoting Fairness and Justice
Siren’s functionality extends beyond mere reporting. Should a case progress to court, all recovered funds from the fraud are distributed among the involved parties. The recovery costs are deducted from the recovered assets, with a 5% surplus sent to connected wallets on the coin network, and the remaining funds returned to the scammed user. This equitable distribution system ensures that justice is served efficiently and fairly.
As TurkishNY Radio reports, Siren not only makes it easier for users to report and share information about their stolen assets but also aims to eradicate scammers by democratizing the legal process. Xerberus Recovery is committed to making the legal process accessible to all investors, not just the wealthy. This initiative is streamlining justice and restoring power to the victims of crypto scams.
Simon Peters, CEO and co-founder of Xerberus, shared his enthusiasm about Siren, stating,
The whole of the team at Xerberus is proud of Siren and what it means for crypto moving forward. As we roll out Siren to new networks it will become a vital tool in protecting crypto users from scams across all major networks. Our vision has always been to make crypto more trustworthy through governance and transparency. By doing this and making the cost of bad actions incredibly high, we want to stamp out bad crypto and put an end to malicious industry practitioners. This is why this tool is free. We look forward to working with our users as we continue to bring industry crooks to justice and make crypto trustworthy.
In summary, TurkishNY Radio has brought to light the significant impact of Xerberus Recovery’s latest innovation, Siren. This tool is set to revolutionize the way cryptocurrency scams are handled, providing users with the means to recover their assets and seek justice. By empowering users and making the legal process accessible, Xerberus Recovery is paving the way for a safer and more trustworthy cryptocurrency landscape.
The introduction of Siren marks a pivotal moment in the fight against crypto scams. As TurkishNY Radio reports, with Siren’s and reporting capabilities, backed by legal support, the future of cryptocurrency security looks promising. The community eagerly anticipates the broader implementation of this tool across various networks, heralding a new era of transparency and accountability in the crypto world.
