Fake Crypto Exchange Support Scams Collecting Funds via Wise
Criminals impersonating exchange support staff instruct victims to transfer funds via Wise as part of a fake 'account protection' process, stealing the transferred amount.
Part of: Fake Crypto Exchange Support Scams
Last reviewed: 1 June 2026
Some fake exchange support scams move beyond credential theft and instruct victims to send funds via Wise as part of a supposed 'security transfer' to protect their assets. The scammer frames Wise as a neutral intermediary holding funds while the account security issue is resolved — in reality the money goes directly to the scammer.
Wise is used because it is familiar to international users of crypto exchanges and its transfers are fast, multi-currency, and difficult to reverse once the recipient has withdrawn funds.
How this scam works on Wise
A victim contacts what they believe is their exchange's support team after seeing an ad or forum post. The fake agent claims that the victim's account is under investigation for suspicious activity and that funds must be moved to a 'secure custodial Wise account' for protection while the case is resolved.
Other scenarios involve the scammer claiming that Wise is needed to 'bypass a glitch' preventing a fiat withdrawal from the exchange. The Wise transfer is presented as a temporary step before a final settlement to the victim's bank.
Some schemes specifically target victims of earlier crypto losses, posing as exchange dispute teams who require a 'refund processing fee' via Wise.
Common red flags
- Support agent requests a Wise transfer to protect your account or facilitate a withdrawal
- Contact was initiated by the agent rather than you opening a legitimate support ticket
- Wise recipient account is an individual name rather than an institutional account
- You are asked to keep this process confidential from your family or financial adviser
- The Wise transfer is described as 'temporary' or 'for verification only'
- Agent's contact details cannot be verified through the exchange's official support channels
How to protect yourself
- Know that no legitimate exchange will ever ask you to send funds to an external Wise account
- Access exchange support only through the official website, navigated to independently
- Never transfer funds to 'secure' them at the direction of an unsolicited support contact
- Discuss any unusual request from an exchange with a trusted person before acting
- Verify any Wise transfer request through the exchange's published support contact details
- Report the fake support agent to the exchange's verified security team
How to report it
- Report the impersonation to the genuine exchange's security team
- Contact Wise's fraud team with the recipient account details and transaction reference
- File a cybercrime report with your national authority
Frequently asked questions
Would a real exchange ever ask me to send funds to a Wise account?
No. Legitimate exchanges hold your funds in custodial accounts under their own regulatory framework. They have no reason to ask you to transfer those funds to an external Wise account. Any such request is fraudulent regardless of how credible the support agent appears.