- Fake Crypto Recovery Scams Are Exploiting the Desperate
What You Need to Know
After losing money in cryptocurrency scams, many victims are desperate for help—and scammers know it. Posing as recovery firms or fake law offices, these fraudsters reach out via social media, messaging apps, or ads, pretending to represent law enforcement or legal professionals. They promise to recover stolen crypto funds—for a hefty upfront fee. In reality, these promises are empty. Victims not only lose their original investment but also more money in the process. In 2024 alone, over $9.9 million was lost just to these bogus refund operations.
What You Should Do
The best defense is awareness. No legitimate company or agency will charge you to recover stolen crypto or request sensitive data up front. Here’s how to avoid being scammed twice:
- Never pay upfront fees for recovery services—real agencies do not charge victims.
- Don’t believe claims of law enforcement affiliation unless you verify directly with the agency.
- Avoid sharing personal or financial information with unsolicited contacts.
- Verify any law firm through your state’s bar association and check for real attorney credentials.
- Contact the FBI directly if you’re a victim of a crypto scam—they will never charge you for help.
Think you are being scammed? Call our scam hotline or email us for help:
(801)-724-6211
scamwatch@invisus.com
