how to recover money from bitcoin scam

How To Recover Your Crypto After Being Scammed

How To Recover Your Crypto After Being Scammed




This article can be helpful if you have lost money due to internet fraud or other types of cybercrime and want to know how to recover your money after being scammed.

You might have been duped into sending Crypto to a criminal or  a crook might have accessed your  account sending your Crypto to themselves or other people.

Also, you might be duped into making a fraudulent investment, or you’ll be duped into sending money to a romance scammer (catfish).No matter how you took the money, take the actions listed below.

How To Recover Your Money/Crypto After Been Scammed

Recovering money/crypto from cyber scams – Do this first!

  1. Please report it to the police. Should notify the police right away if you notice anything suspicious. You will need a crime number from the police to communicate with your bank and other organizations. You should report Action Fraud for most internet frauds and cybercrimes. By writing the scam, you might potentially advance the process of obtaining your money back.
  2. Contact your bank. Additionally, it would help if you promptly got in touch with the banking institutions responsible for processing the payments. You can create a global report using this Cybera tool to freeze the money immediately.
  3. In case of Crypto, being an almost no regulated form makes it a bit hard for people to recover their losses, but in this case the first line of action will be to try the earlier two steps above and if the transactions were made through bank, they will always have the receipts. And after you can use a reputable recovery company to get back all your loss with the right information.

Beware recovery scams. Criminals frequently contact their victims after stealing money while posing as their bank, the police, or money recovery specialists.

The scammers often use some of these few ways to carry out their business:

1) Authorized transactions (where tricked you into making a payment)

2) Unauthorized transactions (where the criminal carried out the payment using your accounts)

3) ID theft (where a financial organization has impersonated you)

4) Card theft (the money was transferred by a credit or debit card payment).

Most institutions have voluntarily agreed to abide by a voluntary guideline since 2019 regarding handling money made to scammers. Also, this concentrates on payments that have only been authorized by the victim, i.e., payments that you have made or approved.

According to the rule, banks must look into victim claims rather than reject them. They must determine if they have done everything necessary to safeguard you from receiving these payments.

How does that function?

1. Inform the fraud staff at your bank about the scam: The fraud team at your bank should be notified quickly. The bank will launch an investigation as a result of this.

2. Investigation of fraud: Your bank has 15 days to investigate the matter before reporting on whether it would refund your money.

3. Reimbursement: Three results are possible:

  • Full reimbursement: Your bank will refund all your money because they admit they didn’t do enough to alert you while the transfer was performed.
  • No reimbursement: Your bank decides that their warnings were adequate, that you disregarded them or were “negligent” in writing your checks, and as a result, they don’t offer you any money back.
  • 50% reimbursement: Shared Responsibility, in which both you and the bank might have done more. You get back half of your money.
  1. Making a complaint: you should file a complaint with the Financial Ombudsman Services if you do not receive a complete repayment. They might agree with you because they think the bank should have recognized the unusual transactions, or the bank’s warnings were insufficient, ineffective, or impactful enough.
  2. When a fraudster made the purchase using your accounts (unauthorized payment)

In this case, the fraudster successfully accessed your online bank account and executed the transaction without your knowledge.

When people are duped into giving a criminal remote access to their computers, the criminal can then seize control and access the online bank account. The Financial Conduct Authority has regulations regarding how the bank is required to handle this.

If you made the payment during the last 13 months, the bank could not demonstrate that you authorized the transaction, and if the bank does not consider that you acted with gross negligence, you should receive your money back.

The process here is precisely the same as in step one above.

When a financial institution has impersonated you (identity fraud or theft)

In this case, a criminal utilized your personal information to pose as you to a financial institution. They might have used your name to obtain a loan, credit card, or mobile phone contract. Visit our Identity Theft Guide for assistance in this area.


In conclusion


Sometimes if feels the law enforcements are not capable enough to do their jobs especially when they are dealing with Crypto, this is as a result of Crypto being new and they mostly don’t have the right technology to follow them up and its very expensive for them going after Crypto. That’s why using a Recovery Company will always seem the best to get back whatever you have lost. Contact to report, recover your loss and get the chance to be aware of the right companies to go in the future.


  1. Can they recover lost etherium? My blockchain was hacked and lost access to the wallet and received email that money has been sent when they took everything there.

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  3. Assetsrepo. com was able to get my recovery done, I saw on their site the many ways you can even avoid being scammed.


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