Crypto recovery scams: the "get your money back" second scam
After you've been scammed, a wave of "recovery experts" appears promising to get your crypto back — for a fee. The large majority are scammers hunting victims a second time.
If you're reading this after a loss, please be careful right now. This is exactly when you're most vulnerable, and the recovery scammers know it.
How the recovery scam works
- 1.They find you. They contact you directly (often after you posted about your loss), or advertise as "asset recovery" firms and "ethical hackers".
- 2.They sound credible. Fake reviews, fake "success" screenshots, even claims of working with government agencies or your exchange.
- 3.They ask for money up front. An "investigation fee", "tax", or "deposit" to release the recovered funds.
- 4.They take it and vanish — or keep inventing new fees, and sometimes harvest your ID and wallet details too.
Red flags — walk away if you see any
- 🚩They contacted you first (DM, email, comment, phone).
- 🚩An upfront fee, "tax", or "deposit" before any recovery.
- 🚩Guarantees of recovery, or testimonials and "success" screenshots.
- 🚩They ask for your seed phrase, passwords, or remote access.
- 🚩They claim to be affiliated with a government agency or your exchange (they don't cold-contact victims).
What to do instead
- •Don't pay anyone who promises to recover your funds. Block and ignore them.
- •Use the free, legitimate routes: report to the right authorities and your exchange.
- •If you want professional help, you contact a licensed lawyer or regulated investigator — see how to find legitimate help.
You're not alone
Being targeted twice is devastating and disturbingly common. None of it is your fault. Reach out to someone you trust, and lean on free, official channels rather than anyone promising a quick fix.
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