Crypto scams often begin with a believable contact—a supposed investment expert, romantic interest, government official, employer, or recovery agent—and end with a request to buy or transfer cryptocurrency. Treat guaranteed returns, pressure to act quickly, and demands to pay a problem-solving fee in crypto as reasons to stop and verify. This U.S.-focused guide explains common tactics, how to check a pitch, and what to do if you have already sent funds.
How crypto scams work
Many crypto scams borrow trust from a familiar person, company, government agency, celebrity, or job opportunity. The contact then steers the target toward a payment or transfer that benefits the scammer. The pitch may be an investment, a bill, a supposed emergency, a job task, or a promise to recover money already lost.
Cryptocurrency transfers typically are not reversible. The Federal Trade Commission (FTC) says that usually the only way to get the money back is for the recipient to send it back. A public blockchain may record transaction details, but that does not mean a victim can readily identify the person behind a wallet or recover the funds. Crypto accounts also are not government-insured like FDIC-insured bank deposits.
Crypto scam patterns to recognize
| Pattern | How the pitch works | What the scammer wants |
|---|---|---|
| Fake investment platform | An unsolicited contact or someone met online offers investment guidance and directs you to a convincing website. Its dashboard may show fabricated growth; when you try to withdraw, the site blocks you or demands more fees. A dating or friendship contact may first build trust before introducing an investment. | Crypto transfers to an account or wallet controlled by the scammer, followed by further payments to supposedly unlock the balance. |
| Guaranteed returns, giveaways, or celebrity impersonation | An ad or social post promises fast, easy, risk-free, or guaranteed profits, sometimes claiming that a celebrity will multiply crypto sent to an address or QR code. Testimonials and endorsements can be fabricated. | A direct transfer. An endorsement displayed in an ad or post does not verify the offer. |
| Government, company, utility, or law-enforcement impersonation | A caller or message claims that an account is compromised, a legal problem is urgent, a bill is overdue, or money must be moved to “safe keeping.” The sender may claim to represent a government office or a familiar company. | Crypto payment or a transfer to a wallet the impersonator controls. The FTC says legitimate companies and government agencies do not demand that consumers buy or pay with cryptocurrency. |
| Crypto ATM and QR-code payment | A caller keeps you on the phone, tells you to withdraw money and visit a crypto ATM, then directs you to buy cryptocurrency and scan a supplied QR code. The code sends the payment to the scammer’s wallet. | A crypto transfer made at the machine. Instructions to stay on a call while moving money are a reason to stop and verify independently. |
| Fake crypto job | A supposed employer requires an upfront crypto fee or asks you to deposit a check, buy crypto, and send it to a client. The FTC warns that a deposited check may later prove fake, leaving the worker responsible to repay the bank. | A fee or crypto transfer. A job should not require you to pay to get hired or send crypto as a condition of employment. |
| Blackmail or extortion | A message threatens to expose compromising information unless you pay in cryptocurrency. The FTC describes this as blackmail and a criminal extortion attempt. | A crypto payment under threat. Preserve relevant messages and report the threat through appropriate law-enforcement channels; the right response can depend on the circumstances. |
| Refund or recovery scam | After someone loses money, a supposed government agent, lawyer, advocacy group, or recovery specialist offers help, then asks for a retainer, processing charge, administrative fee, or financial information. | More money or sensitive information from a prior victim. The FTC warns that unsolicited fee-based recovery offers are often scams. |
Warning signs that call for a pause
No single sign proves that every contact is fraudulent, but payment demands and guaranteed returns deserve careful checking. Stop before paying or sharing information if someone:
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- Contacts you unexpectedly and asks for money, personal information, or access to an account.
- Pressures you to act immediately, keep the offer secret, or skip independent checks.
- Promises guaranteed, risk-free, fast, or unusually large returns.
- Mixes romance or friendship with crypto investment coaching or a request to send funds.
- Claims to represent a government agency, utility, bank, or major company and demands crypto to protect your money, fix an account, or settle a problem.
- Requires an upfront job fee or tells you to buy and transfer crypto as part of employment.
- Contacts you after a loss and asks for an upfront recovery fee or financial details.
The FTC’s consumer guidance puts it plainly: “Only scammers demand payment in cryptocurrency.” The FTC also warns that “Only scammers will guarantee profits or big returns.”
How to check a crypto pitch before paying
- End the pressure. Do not buy, transfer, scan a QR code, disclose account details, or follow instructions while someone is insisting you stay on a call or act immediately.
- Verify the contact independently. Find the real organization’s contact information yourself, rather than using a number, link, or contact method supplied in the message. Ask the organization whether the claim is genuine.
- Check the offer, not just the person. A familiar name, professional-looking site, testimonial, or social-media endorsement does not establish that an investment or payment request is legitimate.
- Refuse crypto as a fix for a problem. Do not pay cryptocurrency to resolve a supposed legal matter, protect money, pay a bill to an impersonator, obtain a job, or unlock investment profits.
- Do not send money to recover money. Treat an unsolicited recovery offer—especially one requiring a fee or financial information—as another potential scam.
What the reported-loss figures show
FTC figures are based on losses consumers reported to the agency; they are not a complete count of all fraud. The amounts below concern different years and categories, so they should not be added together or treated as measurements of the same group.
| FTC report | Reported figure | Scope |
|---|---|---|
| 2025 report on 2024 losses | $1.4 billion in losses reported through cryptocurrency payments | A crypto-payment figure across reported fraud, not a total for crypto investment scams alone. |
| 2025 report on 2024 losses | $5.7 billion in reported investment-scam losses; 79% of people who reported an investment-related scam said they lost money, with a median reported loss above $9,000 | Investment scams generally, not crypto-specific totals. |
| 2026 report on 2025 losses | More than $7.9 billion in reported investment-scam losses, with a median individual loss above $10,000 | Investment scams generally; the category can include crypto but is not limited to it. |
| FTC data spotlight published in 2022 | More than 46,000 people reported losing over $1 billion in cryptocurrency to scams since the start of 2021 | Historical cumulative figure from that spotlight, not a current annual estimate. |
What to do if you sent cryptocurrency
- Stop sending money and stop engaging. Do not pay supposed taxes, unlocking charges, verification deposits, or recovery fees. A new demand does not make an earlier transfer recoverable.
- Contact the exchange or service you used promptly. Use contact details you find independently. The FTC lists the company used to send the funds as a reporting contact, but contacting it is not a promise that a blockchain transfer can be reversed.
- Preserve useful records. Save messages, usernames, wallet addresses, transaction IDs, receipts, and website details. These details can help when you report what happened.
- Report the suspected fraud through appropriate U.S. channels. The FTC directs consumers to report fraud to the FTC, the CFTC, the SEC, the FBI’s Internet Crime Complaint Center (IC3), and the exchange involved as appropriate to the facts. For a recovery scam, the FTC also recommends reporting to your state attorney general. For a blackmail threat, use appropriate law-enforcement channels.
- Secure any affected accounts or identity information. If an account, device, or identity may also be compromised, contact the relevant service through independently verified channels and seek official identity-theft help where applicable.
Reporting can document the incident and alert authorities; it does not guarantee reimbursement. Be wary of anyone who contacts you afterward claiming to recover the crypto for an upfront payment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which reporting routes apply
The reporting channels in this guide are U.S. channels. Report to agencies relevant to the facts, and include the exchange or service used to send the funds. If the incident involves a recovery pitch, the FTC also recommends reporting it to your state attorney general. This guidance does not establish reporting options for other countries.
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