What to do if you sent money to a crypto scam
6 min read · Updated September 3, 2026
If you have just realised what happened, take a breath. You cannot undo a crypto payment, but there are still useful things to do — and some very costly mistakes to avoid in the next few days. Work down this list in order.
1. Stop sending. Completely.
Do not pay a release fee, tax, commission, verification deposit or account upgrade, no matter what the balance on their screen says.
The most damaging losses happen after the first one, when people borrow to 'unlock' money that never existed.
2. Save the evidence before it disappears
Accounts and chats get deleted quickly once you stop paying. Capture everything now, while you still can.
- Screenshots of the full chat, including phone numbers and usernames.
- The website address and any app download link.
- Wallet addresses you sent to, and the transaction IDs from your exchange or wallet.
- Dates, amounts, and the names they used.
3. Contact the money's first stop
If you paid by bank transfer or card, call your bank's fraud line immediately — some payments can still be recalled or disputed in the first hours.
If you bought crypto on a mainstream exchange and then sent it on, report it to that exchange's support with the transaction IDs. They can sometimes flag or freeze receiving accounts held with them.
4. Report it officially
Reporting rarely returns the money, but it builds the case that gets these operations shut down and puts the platform on public warning lists that protect others.
In the US that means the FTC and the FBI's IC3, plus the SEC or CFTC for investment platforms. Elsewhere, use your national fraud reporting body and financial regulator. Our If Scammed page has a copy-paste summary you can fill in once and reuse.
5. Secure your accounts
If you shared a seed phrase, move any remaining crypto to a brand-new wallet immediately — that old wallet can never be made safe again.
If you installed a screen-sharing or remote-access app, remove it and change the passwords for email, banking and exchanges from a different device. Turn on two-factor authentication where you can.
6. Expect the second wave
Within weeks you will likely be contacted by a 'recovery expert', a 'blockchain investigator', a lawyer, or even someone claiming to be from a government agency, offering to get your money back for a fee.
These are the same criminals or people who bought the victim list. No legitimate recovery service finds you first and asks for an up-front payment.
7. Tell someone, and consider telling everyone
This scam is engineered by professionals to work on careful people. Shame is what keeps it profitable, because it stops victims warning others.
You can post your account anonymously on our Story Wall, free and without an account. Those stories are often what stops the next person mid-payment.