Crypto scams create pressure, confusion, and urgency. Victims are often pushed to send more funds, pay fake taxes, unlock fake accounts, or trust a second party promising recovery. The first priority is to stop further loss and preserve evidence before it disappears.
1. Stop communication and payments
Do not send additional funds. Do not pay unlock fees, tax charges, compliance fees, or recovery deposits. Do not tell the scammer that you are considering an investigation. Offenders often delete profiles, move funds, or change infrastructure once they know they have been detected.
2. Preserve wallet and transaction data
- Wallet addresses used by you and the scammer.
- Transaction hashes for every transfer.
- Blockchain network used for each transfer.
- Exchange names, account IDs, and withdrawal confirmations.
- Dates, times, amounts, and screenshots of each transaction.
3. Save all communication
Export chats where possible. Save screenshots of profiles, usernames, phone numbers, email addresses, websites, Telegram handles, WhatsApp numbers, LinkedIn profiles, advertisements, invoices, contracts, and fake dashboards. Keep the original files when available, not only screenshots.
A practical tip: collect everything in one folder with a short timeline document. Two columns are enough: date, and what happened. Every party you deal with later, bank, exchange, police, lawyer, or investigator, will work faster and take the file more seriously when it is organized.
What not to do
- Do not confront the scammer or announce that you are investigating; infrastructure disappears within hours.
- Do not pay anyone who guarantees recovery for an upfront fee; that is usually the second wave of the same fraud.
- Do not post wallet addresses and case details in public groups while the case is live; it warns the offender and can taint evidence.
- Do not wipe or reinstall a device that was involved before it has been examined.
- Do not keep trading on a platform that “requires” more deposits to unlock a withdrawal; that unlock never comes.
4. Secure your accounts
Change passwords for email, exchange accounts, cloud storage, and banking portals. Enable two-factor authentication. If you installed remote access software or shared your screen, disconnect the device from the internet and have it checked before using financial accounts again.
5. Report the incident
Report the fraud to your exchange, bank, relevant platform, and local authorities. In some cases, fast reporting can help platforms flag accounts or preserve information. Keep copies of all reports and reference numbers.
6. Be careful with recovery scams
Many victims are targeted again by recovery-room fraud. These parties often claim they can guarantee the return of funds, ask for advance fees, or pretend to work with exchanges or authorities. Serious investigators speak in evidence, probability, and limitations, not guarantees.
When to consider professional tracing
Professional tracing can be useful when the amount is significant, when crypto wallets or exchanges are involved, when the offender may be identifiable, or when you need an organised evidence report for legal counsel, an insurer, a platform, or law enforcement.
NCRB provides OSINT investigation, blockchain tracing, evidence preservation, and structured reporting. We help clarify what happened, what can still be traced, and which next steps are realistic.
What an engagement looks like
A typical case starts with a confidential intake and a feasibility view: based on your evidence, is tracing likely to produce something actionable. If the answer is no, you hear that before money is spent. If yes, the tracing work follows an agreed scope and ends in a documented report you can put in front of a bank, exchange, lawyer, or the police. No recovery guarantees at any stage; documented facts and realistic options instead.
Contact NCRB confidentially if you need help assessing a crypto scam.
Disclaimer: This article is general information and does not constitute legal advice. Every case is different; consult a qualified professional where needed.
