Recover After a Cryptocurrency Wire to a Fake Exchange
Steps to take immediately after sending cryptocurrency or a bank wire to a fraudulent exchange or investment platform.
Last reviewed: 1 June 2026
First 10 minutes
- Stop all further transfers — do not send any additional funds regardless of what the platform or 'support' tells you
- Capture screenshots of the platform, your transaction history, wallet addresses, and all correspondence
- Note the wallet address(es) you sent funds to and the transaction hash(es) from your wallet or exchange
- Do not withdraw from or interact with the fake platform further — any 'withdrawal fee' request is an additional scam
- Disconnect from any remote-access session if one was active during the transfer
First 24 hours
- Report the wallet addresses to your national cybercrime authority (Action Fraud in the UK, IC3 in the US) and provide all transaction details
- If you used a legitimate exchange to fund the transfer, report the receiving wallet to that exchange's fraud team — they may be able to flag it
- Contact a cryptocurrency tracing service or solicitor experienced in crypto fraud if the amount is significant
Contact your bank or payment provider
- If you used a bank transfer to buy cryptocurrency, contact your bank to report that the funds were used in a fraud and to request a recall
- If you paid by credit or debit card, request a chargeback through your card provider for the fiat-to-crypto purchase
- Ask your bank to flag your account for enhanced monitoring in case the scammer attempts further social engineering
Evidence to preserve
- Save transaction hashes, wallet addresses, and timestamps from your own wallet or exchange account
- Screenshot all communications with the fake platform — chat logs, emails, withdrawal request rejections
- Export your bank or credit card statements covering any fiat on-ramp payments made to fund the crypto purchase
Secure your accounts and devices
- Change passwords for any accounts where you registered on the fake platform
- Enable two-factor authentication on your genuine exchange accounts and email
- Revoke any API keys or wallet connection permissions you granted during the scam
Report it
- Report to your national fraud/cybercrime service
- Report to the platform, bank, or provider involved
- Keep any reference numbers you're given
Cryptocurrency sent to a fraudulent exchange cannot be reversed at the blockchain level, but reporting quickly can help authorities track the funds, warn other victims, and in some cases lead to recovery through legal action or exchange cooperation. Many fake crypto platforms operate as 'pig butchering' or 'investment platform' scams — they allow small withdrawals early to build trust before a large theft.
Be especially wary of any follow-up contact from the platform or a 'recovery service' offering to retrieve your funds for an upfront fee. These are almost always secondary scams targeting the same victims. Legitimate law-enforcement-led recovery does not involve upfront fees.
Frequently asked questions
Is there any way to get cryptocurrency back once it has been sent?
Blockchain transactions are irreversible. However, if the scammer moved funds to a regulated exchange to cash out, that exchange may be compelled by law enforcement to freeze the account. Reporting to the IC3 (US) or Action Fraud (UK) immediately gives the best chance of triggering such action.
A 'crypto recovery service' has contacted me offering to get my money back for a fee — should I use them?
Almost certainly not. The vast majority of cryptocurrency recovery services are scams that specifically target crypto fraud victims. Do not pay any upfront fee to a recovery service. Seek advice from a regulated solicitor or law firm instead if the amount warrants it.