Have you lost money to a crypto scam?

Take back what’s yours with trusted UK solicitors by your side. We’ve helped thousands recover funds from crypto fraud with our proven recovery process, reclaiming £50m in just three years.

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Preventing a crypto scam

How do crypto scams work?

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    Scammers build your trust

    Most crypto scams begin with a relationship. It could be a fake financial advisor, a romantic interest, or someone impersonating a well-known person. The goal? To gain your trust before they scam you.

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    They pitch an opportunity

    Once you're interested, they pitch a high-return investment. To build credibility, they might let you withdraw a small amount or show fake returns. Then, they encourage a larger deposit.

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    They block access to your money

    When you try to cash out, you’re asked to pay extra costs to secure your funds. They may say it’s for tax, a verification step, or a blockchain fee. But in reality, this is part of the scam, and they disappear with your money.

How to spot a crypto scam

Strange withdrawal requests

Be cautious of anyone asking you to pay additional fees to withdraw your balance. This is a tell-tale sign of a crypto scam. These fees could be framed as withdrawal fees, tax fees, transaction fees, blockchain fees or AML fees. Once fees are paid, scammers will simply move the goal post and request further payments to withdraw.

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Promises of high returns

If it sounds too good to be true, it probably is. Be wary of fake testimonials or fabricated screenshots that show unrealistic returns. Even if the cryptocurrency you are investing in is legitimate, the trading platform may not be!

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Investigate the reviews

Check who left a review for a particular cryptocurrency trading platform or broker. Does the reviewer seem like a real person or a credible company? Scammers often create fake profiles that post only one review in order to establish credibility.

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Why WRS

Supporting you is our priority. That’s why we provide personalised plans and care around the clock to our clients.

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Trusted by thousands

Join satisfied clients who’ve recovered their lost funds with WRS.

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Call on us for guidance and support 

Falling victim to fraud can be overwhelming and distressing. You deserve expert guidance and support every step of the way. That’s what we’re here for.  

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Cryptocurrency Scams FAQs

  • Can a crypto scammer be traced?

    Yes, a crypto scam can be traced most of the time. However, there are things that can make it more difficult, such as: 

    • Not tracing the funds early enough  
    • The funds were moved into a rogue exchange  
    • You cashed out quickly in an account linked to an offshore location 
    • The scammer has used a mixer to make it more difficult to trace – a tactic used in highly sophisticated scams 

    No matter the reason, our specialist solicitors can trace your crypto funds to build a credible case for recovery. Get in touch today to see how we can recover your money.  

  • Can you recover scammed cryptocurrency?

    Recovering funds in any scam can be complicated, but it’s possible with specialist guidance. Our team at Wealth Recovery Solicitors are experts in recovering lost cryptocurrency, regardless of how you were scammed. It’s why we’ve been able to recover more than £50m in just three years.

  • What protection is there for cryptocurrency investors?

    Cryptocurrency is widely considered a high-risk investment, even for experienced traders. With little regulation around cryptocurrency in the UK, it can be challenging to find reliable support if you lose your investment to scams.  

  • What types of cryptocurrency scams are out there?

    Crypto scams vary, though some of the most common types of scams include: 

    Our experts have put together a guide to spotting online scams in all of their forms to help you identify a potential scam and keep your funds safe. 

    Regardless of how you’ve been scammed, WRS can provide expert support to help you recover your lost crypto assets. Get in touch with us for a free consultation to discuss the details of your situation and find out how you can begin recovering your funds. 

  • How can you avoid a crypto pump and dump scheme?

    Pump and dump schemes are one of the most common forms of crypto fraud. These scams artificially inflate the price of a coin to attract investors, before the scammers sell off their holdings, leaving victims with worthless assets. 

    Here’s how to protect yourself: 

    • Do your research: Before investing in any crypto coin, investigate the company’s background, roadmap, market capitalisation, and trade volume. Look for reliable news coverage or credible information about the coin or platform. 
    • Check for unusual price movements: Sudden spikes in price and volume, followed by sharp drops, are a major red flag. 
    • Don’t invest based on hype: If you’re only investing because others are, pause and re-evaluate. Fear of missing out (FOMO) is a common trap. Always base your decisions on research, not rumours. 
    • Stay informed: Monitoring market trends and news regularly will help you spot scam patterns early and avoid making impulsive decisions. 
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