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Crypto Recovery Scams: How Fraudsters Target People Who Lost Their Funds

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2020-10-27 05:57 PM

People who have lost access to cryptocurrency are often targeted by a second type of fraud: fake recovery services.

Scammers may claim to be blockchain experts, hackers, investigators, or recovery specialists and promise to retrieve lost cryptocurrency in exchange for an upfront payment or access to wallet information.

Legitimate recovery processes should never require you to blindly hand over your private keys or recovery phrase.

This guide explains common recovery scams, warning signs to watch for, and practical steps you can take when you believe you have lost access to a digital asset.

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