What are crypto recovery scams?

Crypto recovery scams are schemes that promise to get back crypto you lost to fraud, as long as you pay first. Once you pay, the "recovery" never happens and you lose more money. They work because victims are stressed, ashamed and eager for any way out.

How do fake crypto recovery lawyers and services operate?

The FBI has warned twice, in June 2024 and August 2025, about fictitious law firms that contact crypto scam victims. They copy the names and letterhead of real lawyers, claim ties to the FBI, CFPB or made-up international agencies, and sometimes know the exact dates and amounts of your earlier transfers. Some tell you that you are on a "government list" of victims.

Then the fees start. The scammer asks for a retainer, a tax, or a bank "verification" charge, often in crypto or gift cards. Some move victims into WhatsApp group chats or send them to a fake foreign bank site where the "recovered" money supposedly waits. From February 2023 to February 2024 alone, victims of fake law firms reported more than $9.9 million in losses to the FBI.

The CFTC adds that recovery firms also pay for fake press releases and reviews so they rank in search results, and that scammers buy and sell lists of past victims.

Is a crypto recovery company legit?

Treat any unsolicited offer as a scam. FTC guidance is plain: government agencies and legitimate groups do not ask for money to help you get a refund, and they do not guarantee results. Red flags include:

• Contact you did not start, especially if they already know about your loss.
• Upfront fees, or fees that keep growing.
• Payment requested in crypto, gift cards or wire transfers.
• Claims of FBI or regulator partnerships. The FBI does not charge victims to investigate.
• Refusal to appear on video or show a license, or contact only through messaging apps.

To check a claimed agency, look up its number yourself rather than using one the caller gives you.

Can you get scammed crypto back?

Sometimes, but not through a paid stranger. Crypto transfers cannot be reversed, though they can be traced on the blockchain, as our guide on whether crypto can be traced explains. Real recovery usually comes through law enforcement seizures or court restitution, and the CFTC says genuine restitution notices tend to arrive by mail and should be checked with the agency or court directly.

Your best move is to report the original theft quickly to ic3.gov, ReportFraud.ftc.gov and the exchange involved, as covered in what to do if you are scammed. If you were hit by a crypto scam text or another common crypto scam, expect recovery offers to follow, and ignore them.