What to do after a crypto scam or hack

The honest answer first

Most crypto lost to scams and hacks is never recovered. Blockchain transactions can't be reversed, and the people behind these scams move fast. But some cases do end with funds frozen or returned, usually when the money reaches an exchange or a stablecoin issuer that can act on a law-enforcement request. The sooner someone traces the funds and reports them, the better those odds.

Crypto Asset Recovery doesn't trace stolen funds ourselves. Our work is getting people back into wallets they own but can't open. For scams and thefts, we refer people to an investigation firm we've vetted. Details are below.

Do these things now

1. Stop sending money. That includes "taxes," "withdrawal fees," or "unlock fees" the platform asks for before you can withdraw. If a site wants more money before it pays you, the money is already gone, and paying more only adds to the loss.
2. Secure what's left. If a wallet was drained, assume its recovery phrase or a token approval is compromised. Move any remaining funds to a brand-new wallet with a new phrase, and revoke token approvals you didn't intend to give.
3. Write everything down while it's fresh. Save transaction IDs (hashes), wallet addresses, website URLs, usernames, phone numbers, and screenshots of every conversation. Note dates and amounts.
4. Tell the exchange you sent from, and the one the funds went to if you know it. Exchanges can sometimes freeze funds that land in an account they control, but only if they hear about it quickly.
5. Report it. In the US, file at ic3.gov (the FBI's Internet Crime Complaint Center) and reportfraud.ftc.gov. Type those addresses in yourself: scammers run fake reporting sites. Outside the US, report to your national police or fraud-reporting service.

Can stolen crypto be traced?

Usually, yes. Every transaction is public, so an investigator can follow the funds from your wallet through the scammer's addresses, mixers and bridges, often to an exchange or a stablecoin issuer. Those businesses know who their customers are, and they can freeze funds or hand over records when law enforcement or a court asks.

Tracing doesn't put coins back in your wallet. It gives police, lawyers and exchanges the evidence they need to act. Whether anything comes back depends on where the funds ended up, how quickly they were traced, and whether the case is pursued.

Watch out for recovery scams

People who have just lost money are the main target for a second scam. Fake "recovery experts," "blockchain lawyers" and even fake government agents contact victims and promise to get the money back for an upfront fee. Some run ads or pose as helpful strangers in online comments.

Walk away from anyone who:

• contacts you first, especially after you've posted about your loss;
• guarantees recovery, or claims to have already found your funds;
• wants payment up front in crypto, gift cards or a wire transfer;
• asks for your recovery phrase or for remote access to your computer;
• claims to be from the FBI, FTC or a court and wants money. Government agencies don't charge victims.

For more red flags, see our guide to whether crypto recovery companies are legit.

Who we refer scam and theft cases to

When someone comes to us after a scam or a hack, we refer them to CNC Intelligence, an investigation firm we've vetted. They trace stolen funds, prepare reports for law enforcement and exchanges, and work with legal teams on cases where recovery is realistic. Ask them directly about their process, fees and what they think your case's odds are before you commit to anything.

Disclosure: Crypto Asset Recovery has a business relationship with CNC Intelligence and receives a referral fee if you work with them.

Locked out of your own wallet? That's what we do.

If the crypto isn't stolen but you can't get to it, because you forgot a password, lost part of your recovery phrase, or have an old wallet file you can't open, that's our specialty. We work offline, and you only pay if we succeed. Tell us about your wallet and we'll give you an honest read on your odds.