Have you lost money to a cryptocurrency scam?
How to avoid a cryptocurrency scam
How do cryptocurrency scams work?.
They earn your trust
Most cryptocurrency scams start with a relationship. It could be a fake financial advisor, a romantic interest, or someone impersonating a famous person. The goal? To earn your trust before scamming you.
They offer you an opportunity
Once you show interest, they propose an investment with high returns. To build your confidence, they might let you withdraw a small amount or show you fake profits. Afterwards, they encourage you to invest a larger sum.
They block access to your money
When you try to withdraw your money, they ask you to pay extra costs to “secure” your funds. They may claim it is for taxes, a verification step, or a blockchain fee. But in reality, this is part of the scam, and then they disappear with your money.
How to detect a
cryptocurrency scam.
Strange withdrawal requests
Be careful if someone asks you to pay additional fees to withdraw your money. This is a clear red flag. These fees could be presented as withdrawal commissions, taxes, transaction fees, blockchain fees, or AML fees. Once you pay these fees, scammers simply change the conditions and ask for more payments before you can withdraw your money.
Promises of high returns
If it sounds too good to be true, it probably is. Be wary of fake testimonials or fabricated screenshots showing unrealistic profits. Even if the cryptocurrency you are investing in is legitimate, the trading platform might not be!
Research reviews
Check who left a review for a cryptocurrency trading platform or a broker. Does the person reviewing seem real or from a credible company? Scammers often create fake profiles that only post one review to appear trustworthy.
Why SafeRecovery?.
Our clients trust us to provide professional and effective tracking services. Our team of blockchain experts and legal professionals works diligently to ensure the best possible outcome in every case. With thousands of satisfied individuals and companies, we remain leaders in cryptocurrency asset recovery.
Personalized plans
Get a tailored recovery program for personalized support and the most cost-effective plans.
24/7 Support
Being a victim of fraud can be devastating. We offer expert advice and support whenever you need it.
Regulated and reputable
Access ethical, transparent, and secure support from a regulated company.
We have recovered more than 40 million for clients like you.
In the last 3 years, we have recovered more than 40 million for our clients.
This is possible thanks to our team of lawyers and specialists, who track and recover the investments you lost to scams.
Additionally, we work without you paying anything upfront: you only pay us if we recover your money.
Innovative solutions
Our innovative accounting solutions offer you an efficient way to meet all your needs.
The best support
High-level technicians who guarantee the accuracy and reliability of all business records.
Timely services
We offer reliable and efficient services, both locally and internationally, at the right time.
Josh Barden
Co-founder
Josh is a fully qualified lawyer who graduated from the University of Liverpool with a strong record in his Law degree. Recently, he was nominated as Young Lawyer of the Year 2024.
Richard Levin
Co-founder and Chief Operating Officer
Richard is one of the co-founders of Safe Recovery. He has extensive experience in the sector. He has created and owns companies that have managed all stages of property: from purchasing land to final sales.
Elisa Blood
Paralegal
Elisa graduated with honors from the University of Manchester, earning a Bachelor’s degree in Politics and Criminology.
Luke Chinn
Paralegal
Luke graduated from the University of Liverpool with a strong record in Law. Later, he worked at a law firm specializing in civil litigation and credit hire.
Ellie Daw
Paralegal
Ellie graduated with first-class honors in Law from the University of Leeds and will begin her studies for the SQE exam next year.
We are here to help
Being a victim of fraud can be overwhelming and distressing. You deserve expert guidance and support every step of the way.
Call Us.
(+44) 744 142 5908
Frequently Asked Questions
about Cryptocurrency Scams.
Can a cryptocurrency scammer be traced?
Yes, a cryptocurrency scam can be traced most of the time. However, there are things that can make it more difficult, such as:
Not tracking the funds soon enough.
Funds being moved to a fraudulent exchange platform.
Money being quickly withdrawn to an account linked to a tax haven.
The scammer using a “mixer” to make it harder to trace (a tactic used in very advanced scams). Regardless of the reason, our specialist lawyers can track your cryptocurrency funds to build a solid case for recovery. Contact us today to see how we can get your money back.
Can you recover scammed cryptocurrencies?
Recovering funds from any scam can be complicated, but it is possible with the help of specialists. Our team at Wealth Recovery Solicitors is expert in recovering lost cryptocurrencies, no matter how you were scammed. That is why we have managed to recover more than 50 million pounds in just three years.
What protection is there for cryptocurrency investors?
Cryptocurrencies are considered a high-risk investment, even for experienced traders. Since there is little regulation on cryptocurrencies in the UK, it can be difficult to find reliable help if you lose your investment to scams.
What types of cryptocurrency scams exist?
Cryptocurrency scams vary, though some of the most common types include:
Romance scams
Phishing scams (impersonation)
“Pump and dump” scams
Impersonation scams Our experts have created a guide to detecting online scams in all their forms, to help you identify a potential scam and keep your funds safe. No matter how you were scammed, WRS can provide expert support to help you recover your lost crypto-assets. Contact us today for a free consultation, so we can talk about your situation and how you can start recovering your funds.
How can you avoid a cryptocurrency "pump and dump" scheme?
“Pump and dump” schemes are one of the most common forms of cryptocurrency fraud. In these scams, a coin’s price is artificially inflated to attract investors before the scammers sell their own holdings, leaving victims with worthless assets.
Here is how to protect yourself:
Research: Before investing in any cryptocurrency, research the company’s background, roadmap, market capitalization, and trading volume. Look for reliable news or credible information about the coin or platform.
Check for unusual price movements: Sudden increases in price and volume, followed by sharp drops, are a major red flag.
Don’t invest based on hype: If you are investing just because others are, stop and re-evaluate. Fear of missing out (FOMO) is a common trap. Always base your decisions on research, not rumors.
Stay informed: Monitoring market trends and news regularly will help you spot scam patterns early and avoid making impulsive decisions.