Please email email@example.com. We will blacklist the Bitcoin address(es) associated with your transaction(s) to ensure it can no longer be used throughout our suite of services. Localcoin will also restrict your user access in order to complete an internal investigation. This is to preserve any information required for law enforcement and/or government investigations. A Localcoin agent will contact you within 1-2 business days to collect further information regarding your situation.
Firstly, we recommend you take the following actions as soon as possible:
- Report the scam to your local police station. This will require you to fill in a police report. We have provided transaction information below to assist you with that.
- Report your incident to the Canadian Anti-Fraud Centre (CAFC), see how on their website here.
- If you gave out your Social Insurance Number, you should report the theft of your SIN by contacting Service Canada at 1-866-274-6627. For more information, see the Social Insurance Number web page.
- If you sent (non-cryptocurrency) money or shared financial information, report it to the financial institution used (ie. your bank, Western Union, MoneyGram, Equifax and/or TransUnion).
- If applicable - Notify the gaming site, dating site, job site, or social media site where you first encountered the third party to inform them of a fraudulent member.
Understanding how Bitcoin and other cryptocurrencies work will help you understand our role and duty as a company who provides crypto-asset services. Firstly, Bitcoin transactions are completely irreversible and cannot be retrieved once sent. Unlike traditional systems (i.e. Visa/Mastercard, payments to merchants, and bank transfers), cryptocurrency transactions cannot be frozen or disputed as the Bitcoin network does not have any central controlling mechanism. You can reference the article "Some things you need to know" for further information on this subject.
At Localcoin, we are constantly taking proactive measures to prevent our customers, and vulnerable targets, from sending their personal funds through our suite of services. Some of these measures include:
- Multiple warning signs posted on or around the physical Bitcoin ATMs as well as on the touch screen;
- Concise terms & conditions that must be agreed to prior to using Localcoin's services;
- Warnings on our website, and on our phone support line.
With regards to obtaining a refund, as the transaction was successfully processed and is irreversible, Localcoin cannot retrieve the funds. Localcoin is therefore unable to provide a refund. For further information about our refund policy, please refer to §12 of Localcoin's Terms of Service here.