Scammed out of crypto? Start with the truth
Discovering you have been scammed out of cryptocurrency is horrible. Many victims describe shame, anger and panic all at once, often after losing life-changing sums. If that is where you are right now, take a breath. What you do in the coming days matters, and there are sensible, honest steps you can take.
Crypto Asset Consultants supports UK scam victims with tracing, evidence, reporting and realistic recovery routes. We will never promise your money back, because no legitimate firm can. What we will do is give you a clear, plain-English assessment of your options.
Common crypto scams we see
- Romance and pig-butchering scams. A relationship built over weeks or months on a dating app or social media, which gradually turns into pressure to invest in a fake platform.
- Fake investment platforms. Professional-looking websites showing impressive fake returns. Deposits are easy; withdrawals suddenly require taxes or fees, then the site disappears.
- Fake exchanges. Sites that imitate real exchanges, or entirely invented ones, designed only to receive deposits.
- Impersonation scams. Fraudsters posing as banks, HMRC, police, well-known companies or even celebrities endorsing an investment.
Whatever the variety, the mechanics are similar: the scammer controls the wallet your crypto went to, and the money on your screen was never real.
What to do first
- Stop all contact. Do not confront the scammer, do not send another penny, and be especially wary of any final fee that supposedly unlocks your funds. It never does.
- Preserve everything. Save wallet addresses, transaction hashes, screenshots, emails, chat logs, phone numbers and website URLs. This evidence is the foundation of every recovery route.
- Report to Action Fraud. Action Fraud is the UK’s national fraud reporting service at actionfraud.police.uk. Get a crime reference number.
- Tell your bank. If any payment left a bank account or card, contact your bank straight away. Banks have fraud teams and may be able to act on recent payments.
- Secure what remains. Change passwords, enable two-factor authentication and move remaining crypto to a wallet the scammer has never seen.
How tracing and recovery routes work
Because blockchain transactions are recorded on public ledgers, stolen funds can often be traced from your wallet, through intermediary wallets, and sometimes to an exchange where the scammer converts them to cash. That is where opportunities can arise.
Exchanges have compliance teams that can freeze accounts when presented with credible evidence. Beyond that, UK courts have granted freezing and disclosure orders over cryptoassets, and the Property (Digital Assets etc) Act 2025 confirmed crypto’s status as property under English law, which strengthens the legal footing for such claims. Our step-by-step guide on how to recover stolen crypto in the UK walks through each stage in detail, and our main crypto recovery services UK page explains how we support this work.
Realistic expectations
Honesty matters more here than anywhere else, so here it is. Some cases have genuine prospects, particularly where funds are traceable to a cooperative exchange, the loss is recent and the sums justify legal action. Other cases, sadly, do not, for example where funds have been laundered through mixers or moved to uncooperative jurisdictions. We assess each case on its facts and tell you plainly which category yours falls into before you spend anything on pursuing it.
Beware of being scammed twice
Fraudsters share lists of previous victims and return posing as recovery agents, lawyers or investigators, sometimes claiming they have already located your funds. This double-dipping is a recognised epidemic that both the FCA and the FBI’s IC3 have warned about. Ignore unsolicited recovery offers, and verify any firm you consider using. Our guide to legitimate crypto recovery companies in the UK shows you exactly how.
One further practical point: losses to scams can have tax implications. See our blog on the tax treatment of lost and stolen crypto in the UK.
Why people choose Crypto Asset Consultants
- Free initial consultation, with no obligation and no pressure.
- UK-based team who explain everything in plain English.
- Honest assessments: if recovery is unlikely, we say so.
- Discretion and confidentiality, always.
Frequently asked questions
Can I get my money back after a crypto scam?
Sometimes, but not always. It depends on where the funds went, how quickly you act and whether legal or exchange-based routes are available. No legitimate firm can guarantee recovery, and anyone who does is a red flag.
What should I do first after being scammed?
Stop all contact with the scammer, do not send any more money, preserve every piece of evidence and report the fraud to Action Fraud. If you paid by bank transfer or card, tell your bank immediately.
Should I report a crypto scam to the police?
Yes. Report it to Action Fraud, the UK’s national fraud reporting service. A crime reference number also strengthens any later engagement with exchanges or the courts.
How does crypto tracing work?
Cryptocurrency transactions are recorded on public blockchains, so stolen funds can often be followed from wallet to wallet. If the funds reach an exchange, there may be an opportunity to request a freeze and pursue legal disclosure.
I have been contacted by someone offering to recover my funds. Is it genuine?
Treat any unsolicited recovery offer as a scam until proven otherwise. Fraudsters routinely target previous victims, a practice warned about by both the FCA and the FBI. Verify any firm independently before engaging them.
What We Do
Portfolio Guidance
Our crypto consultants will educate you to invest in the safest and lucrative crypto assets.
Crypto Staking
Staking is a way to earn passive income from your cryptocurrency holdings.
Crypto Reports
We provide crypto portfolio performance reports within our investment packages.
Crypto Tax Planning
Our consultants work alongside with our recommended crypto accountant to plan crypto tax.
Proud to work with the leading crypto exchanges in the UK
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Please note: Crypto Asset Consultants provides consultancy, education and guidance, not FCA-regulated financial advice. Cryptoassets are largely unregulated in the UK and their value can fall as well as rise.