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As new tokens, such as Battle Infinity (IBAT), come into the crypto space, scammers are silently prowling around seeking their next victims. This is why it remains important to follow best practices at all times and conduct due diligence to avoid falling prey to these bad actors.
Also, crypto projects need to up their security measures and put safety nets in place for their users. Battle Infinity has done just this, as it reaffirms its commitment to protecting its users from falling victim to scams.
The fantasy sports platform recently announced that it was allocating 2% of the total IBAT tokens to the ‘IBAT Cares Community Security Initiative,’ to safeguard users’ funds.
Steps to Retrieving Scam Funds
This platform works as an emergency recovery portal for users who have lost funds to scams or transaction errors. All users have to do is fill out a simple Google form, identifying themselves and detailing the scam or error. IBAT noted that once verified, the team would initiate a recovery process for the lost fund within 24 – 72 hours.
Here are some simple steps to follow in recovering funds:
Log on to the IBAT website and locate the Google form.
Fill out all the requested user information, including name, wallet address, email address, Telegram username, and description of the event.
Affected users will have to wait for 24 – 72 hours to receive a response from the IBAT customer support verifying the process. In some cases, users will be asked to provide more details on the event.
Following successful verification, the stolen or lost funds are reimbursed to the user’s wallet.
As mentioned earlier, investors and traders are always advised to remain vigilant in all their dealings in the crypto space, given the alarming rate of scams and hacks. Crypto participants also need to take caution when making transactions to avoid sending funds to the wrong wallet or non-existent accounts.
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