Can I File a Lawsuit Against Bitstamp?

You can file a lawsuit against Bitstamp if the platform’s negligence resulted in stolen funds. That said, cryptocurrency platforms often try to avoid responsibility when a breach occurs, even if their own systems or security practices contributed to the loss. 

If you’ve lost funds due to a Bitstamp hack, you’ll need to hire a skilled cryptocurrency hacking and theft lawyer to help with your case. An attorney can evaluate your situation and help determine whether you’re eligible to take legal action.

Let’s take a closer look at when you can file a lawsuit against Bitstamp and how a lawyer can support your claim.

When You Can File a Lawsuit Against Bitstamp

If you’ve lost money in a cryptocurrency hack and are wondering if you can file a lawsuit against Bitstamp, you’ll want to consult a lawyer. An attorney can review the details of the hack, work with forensic accounting experts, and take the steps required to hold the platform accountable for your losses. 

Whether you can file a lawsuit against Bitstamp depends on several factors, including where you live, how your account agreement is written, and what specific factors caused your loss. If your account was hacked and you believe Bitstamp’s security failures, delayed responses, or poor user protection policies contributed to your loss, you may have grounds for a claim. 

You may be entitled to damages if one of the following statements is true:

• Bitstamp’s two-factor authentication system was compromised
• Bitstamp failed to flag suspicious login attempts
• Bitstamp failed to respond promptly once notified of the breach
• Bitstamp violated consumer protection obligations

Understanding SIM Swapping

If you believe your Bitstamp account has been hacked, you’ll want to familiarize yourself with SIM swapping. SIM swapping is one of the most common methods used to hack crypto exchange accounts. SIM swapping occurs when a criminal convinces your phone carrier to transfer your phone number to a SIM card they control. 

Once they control your number, they can intercept text messages, reset passwords, and bypass two-factor authentication protections tied to your phone. Victims of SIM swap attacks often find themselves locked out of both their email and their crypto accounts within minutes. 

If you believe your Bitstamp account was compromised after a SIM swap, you’ll want to contact Bitstamp support, notify your wireless carrier, document the incident, and contact an attorney. A lawyer can investigate your losses, look for signs of SIM swapping, and determine if you can file a lawsuit against Bitstamp for damages.

How an Attorney Can Help You File a Lawsuit Against Bitstamp

Losing money due to a cryptocurrency hack can be extremely distressing. At a time like this, you need a skilled attorney who has what it takes to pursue the compensation and justice you deserve. A lawyer will determine if you can file a lawsuit against Bitstamp and fight for the damages you need to put this incident behind you.

Here’s what a dedicated attorney will do to help you recover from your Bitstamp cryptocurrency losses:

• Meet with you for a free consultation to assess your situation and offer legal advice
• Advise you on what to do after your crypto was stolen
• Determine if you’re eligible to file a lawsuit against Bitstamp
• Gather account statements, support emails, police reports, and other valuable pieces of evidence for your case
• Draft and file a legal claim
• Represent you during legal proceedings
• Fight for the compensation you’re owed
• Provide ongoing support and updates throughout the legal process

How to Avoid Cryptocurrency Hacks in the Future

Once you’ve worked with a lawyer to file a lawsuit against Bitstamp and get the damages you’re owed, you’ll want to learn how to prevent similar incidents from happening down the road. Follow these steps to protect yourself from future cryptocurrency hacks and losses:

• Use strong, unique passwords for all of your cryptocurrency and financial accounts.
• Enable two-factor authentication (2FA).
• Monitor accounts regularly for suspicious activity.
• Avoid phishing emails and suspicious links.
• Keep all your devices updated with security software.
• Use a hardware wallet for long-term cryptocurrency storage.

Taking these steps can protect you from cryptocurrency hackers and safeguard your funds. That said, even the most cautious crypto investors can still fall victim to hacks. If you’ve lost money due to a cryptocurrency hack that occurred on Bitstamp or another platform, reach out to a trusted attorney to learn more about your legal options.

Take the First Step Toward Recovering Your Funds

If your Bitstamp account was hacked and you had more than $100,000 of cryptocurrency stolen, don’t wait to act. Hire a trusted attorney today and get started on your legal claim. With an experienced lawyer on your side, you’ll have the support you need to gather strong evidence and hold Bitstamp liable for your losses.

At Meyer Wilson Werning, we’ve won over $350 million for individuals like yourself. We’re confident we have what it takes to investigate your losses and take decisive legal action. 

Contact us today to schedule a free consultation with a dedicated lawyer and find out if you can file a lawsuit against Bitstamp. We look forward to meeting with you soon.