How To Recover After a Crypto Scam
Practical steps after losing cryptocurrency to a scam, from securing remaining assets to realistic expectations about fund recovery.
Last reviewed: 1 June 2026
First 10 minutes
- If you shared your seed phrase or private key, transfer all remaining funds to a completely new wallet right now
- Stop all contact with the scammer and do not send more funds
- Log into your exchange and check for any pending withdrawals you can cancel
- Take note of all wallet addresses involved and transaction hashes
- Screenshot all communications and the scam platform or profile
First 24 hours
- Report the scam to your exchange — some exchanges can flag or freeze addresses involved in known fraud
- Report to the FBI IC3 at ic3.gov and to Report Fraud (formerly Action Fraud) or your national cybercrime unit
- File a report with the FTC at reportfraud.ftc.gov if you are in the US
Contact your bank or payment provider
- If you purchased crypto using a debit or credit card, contact your bank about a potential chargeback
- A chargeback targets the crypto purchase, not the transfer to the scammer
- Provide your bank with evidence that you were defrauded
Evidence to preserve
- Save all transaction IDs and wallet addresses involved in the scam
- Screenshot the scam platform, profile, and all communications
- Record dates, amounts, and the currency used for each transfer
Secure your accounts and devices
- Generate a new seed phrase and transfer all assets to the new wallet
- Enable two-factor authentication on your exchange accounts
- Revoke any wallet permissions granted to the scam platform
Report it
- Report to your national fraud/cybercrime service
- Report to the platform, bank, or provider involved
- Keep any reference numbers you're given
Crypto transactions on public blockchains are transparent and traceable, but they are almost never reversible. Law enforcement agencies with specialist crypto teams can sometimes identify scammers and seize assets, but this is rare and takes time. Your priority is to protect any remaining assets first.
Be very wary of recovery services that claim they can retrieve your crypto. The overwhelming majority of these are secondary scams targeting the same victims. Legitimate blockchain analysis firms exist, but they work with law enforcement — they do not accept upfront payments from individuals in exchange for fund recovery.
Frequently asked questions
Can crypto transfers be reversed?
Generally no. Crypto transactions are processed by a decentralised network and are not reversible once confirmed. The only exceptions are certain centralised exchange transactions where the exchange may intervene in cases of obvious fraud.
Is it worth reporting a crypto scam to law enforcement?
Yes. Reports build the intelligence picture that helps agencies identify and disrupt scam operations. In some cases, exchanges can freeze identified wallet addresses linked to criminal activity.