CryptoGal Glossary
Recovery Scam
A scam that targets people who have already been defrauded, promising to recover their stolen crypto for an upfront fee.
Recovery scams prey on the pain of a first loss. After you have been defrauded, someone reaches out claiming they can trace your funds and get them back. They ask for a fee upfront, take it, and disappear. Sometimes they come back for more.
How it works
You post about your loss, or your details end up on a scammer list. A stranger contacts you calling themselves a recovery agent, blockchain investigator, or even law enforcement. They show fabricated proof of past recoveries and demand payment before starting. That payment is the entire point.
Red flags
- Anyone reaching out unsolicited after you shared that you were scammed.
- Guarantees that funds can be recovered. Real investigators never guarantee outcomes.
- Any request for an upfront fee, a “tax,” or a “deposit” to begin.
How to protect yourself
Legitimate law enforcement and reputable services do not charge crypto victims upfront to recover funds. Report losses to authorities like IC3.gov and the FTC. Do not send money to anyone promising a magic fix.
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