The second scam

Spot recovery scams

A recovery scam targets people who have just lost money. Someone appears, often out of the blue, claiming they can trace and return your funds, usually for a fee paid upfront. They take a second payment and disappear. Here is how to see it coming.

Warning signs

If you notice even one of these, treat it as a scam and walk away.

  • A promise or guarantee to get your money back, especially crypto.
  • Any upfront fee, deposit, tax or 'release' payment before funds are returned.
  • They contacted you first after you were scammed, often by WhatsApp, Telegram, Instagram or email.
  • They claim to be a hacker, a 'certified fund recovery agent', or to work with a government agency or exchange.
  • They ask for your wallet seed phrase, private keys, passwords or remote access to your device.
  • Pressure to act immediately, or to keep the arrangement secret.
  • A convincing dashboard showing a 'recovered balance' that you must pay a fee to withdraw.

What legitimate help looks like

Honest routes exist, but they look nothing like a cold message promising your money back.

  • Police and government agencies never charge a fee to take your report.
  • No honest service guarantees recovery. Most blockchain transfers are permanent and cannot be reversed.
  • Regulated lawyers and firms are open about their credentials, fees and realistic chances, and never ask for your seed phrase.
  • Your bank, card network or exchange are the legitimate parties who may be able to act on a transaction.

Already paid a recovery scammer?

You are not alone, and it is not your fault. These people are experts at targeting someone who is desperate to undo a loss. Act on these steps now.

Report it now
  1. 1Stop all contact with them straight away and send no more money, whatever they threaten or promise.
  2. 2Report the recovery scam to the official agencies, noting that it is a second fraud that followed the first.
  3. 3Tell your bank or card issuer about the new payments so they can try to stop or recall them.
  4. 4If you shared your seed phrase, keys or passwords, move any remaining crypto to a new wallet and change your credentials now.
Made with Modulify