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Crypto recovery scams: when someone offers to get your money back

Short answer: Treat any unexpected offer to recover lost crypto as a second scam. The FBI says it never asks for payment to recover lost funds, and the FTC says a real FTC employee won’t contact you by text or WhatsApp offering to recover money. Report the original loss yourself at ic3.gov and ReportFraud.ftc.gov, for free.

By Agent Lane Editorial · Page dated 3 November 2026

What is a recovery scam?

It’s a scam aimed at people who already lost money. Someone contacts you, says they can get your crypto back, and asks for a fee, your account details or more crypto. The FBI received 10,516 complaints about recovery scams in 2025, with $1.4 billion in reported losses (a figure the FBI says may include losses from the earlier scam).

Who pretends to help?

  • Fake law firms. The FBI warns they copy real lawyers’ names and letterheads and claim to be official partners of government agencies. It says no law firm is an officially authorized partner of US government agencies.
  • Fake government agents. The FTC warns of people claiming to be an FTC “agent” who can recover your losses, even sending a photo of a fake ID and badge. The FBI warns of people pretending to be from the IC3.
  • “Crypto recovery” services that promise to trace and return stolen coins for an upfront fee.

What are the red flags?

The FBI lists these signs of a fake law firm:

  • They contacted you first, especially if you haven’t reported the crime anywhere.
  • They know the exact amounts and dates you lost and where the money went.
  • They say you’re on a government list of victims who can recover money “through legal channels.”
  • They mention agencies that don’t exist, such as an “International Financial Trading Commission.”
  • They ask for payment in crypto or gift cards, or to a third-party “trading company.”
  • They say your money is at a foreign bank and ask you to open an account there, or to pay fees to release it.
  • They move you into a WhatsApp or other group chat “for secrecy.”
  • They won’t show a license, appear on camera or hold a video meeting.

How can I check if someone is real?

The FBI suggests asking for video verification or a photo of their law license, and assuming they aren’t real if they can’t provide it. For anyone claiming to work for the government, call the agency’s local office yourself and ask to verify them. Keep records of every message and call. The FTC says a real FTC employee won’t text you or use a messaging app like WhatsApp, won’t text you a photo of their ID, and won’t ask you to pay them, move your money or share financial information to recover a loss.

Where can I get real help, for free?

Report the original scam yourself, at no cost, to the FBI at ic3.gov and the FTC at ReportFraud.ftc.gov, and tell the exchange or bank you paid through. The FBI says the IC3 never asks for payment to recover lost funds. If you already paid a recovery scammer, stop paying, stop replying and report that too. For lost crypto in general, see exchange account hacked? what to do.

Sources

Checked 3 November 2026 on each organization’s own site.

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