SCAM LIBRARY · MONEY & PAYMENT
The crypto-recovery follow-up scam
Scammers contact people who've already lost money to crypto schemes, claiming they can recover those lost funds—but only if you pay a fee or send more cryptocurrency first.
Documented by the FTC & FBI IC3 · reviewed 2026-07-07
How it works
Someone reaches out claiming to be a recovery specialist, investigator, or legal representative who's tracked down your lost cryptocurrency. They create urgency by saying a recovery window is closing soon, and they promise confidentiality while asking you to keep the recovery effort secret from your bank or family. They typically ask for an upfront fee or 'processing deposit' to proceed.
What it can look like
You receive an email or call from someone saying they've identified your stolen crypto and can retrieve it—but first you need to pay a 'recovery fee' or send a small amount of cryptocurrency as 'verification of ownership.' Once you send money, contact stops, or they ask for more.
Red flags
- Someone contacts you unsolicited about recovering crypto you lost—legitimate recovery is rare, and real agencies don't cold-call.
- Pressure to keep the recovery secret or move quickly before an opportunity closes.
- Requests for upfront fees, deposits, or additional cryptocurrency payments.
- Promises of recovering most or all of your lost funds with certainty.
- Refusal to provide verifiable credentials or contact details you can independently confirm.
What to do
- Do not send any money or cryptocurrency, and do not share account details or passwords.
- Independently verify the person's identity by looking up the legitimate agency or firm they claim to represent—don't use contact info they provide.
- Report the contact to the FTC at reportfraud.ftc.gov so authorities can track the scam and help protect others.