Crypto Scam: How to Document and Report Fraud to Law Enforcement

Unlike traditional bank transfers, cryptocurrency transactions are generally irreversible. However, if you report a scam quickly, it gives law enforcement a much better shot at tracking blockchain transactions. This means they can spot the wallets the scammers used and maybe even freeze the funds before they get moved again.

The FBI says that every report submitted to the Internet Crime Complaint Center (IC3) helps investigators identify larger criminal networks.

What to Do If You Are a Victim of a Crypto Scam

As per the FBI, victims should move fast and not try to negotiate with scammers. For starters, if someone’s asking you to send more money to unlock your investment, pay taxes, or anything similar, stop immediately. These are classic tactics used in crypto investment scams.

That said, if you are a crypto scam victim, preserve and collect as much evidence as possible.

Gather everything you can, including wallet addresses, transaction IDs, amounts sent, dates and times, exchange accounts, screenshots, emails, chat logs from WhatsApp, Telegram, Discord, or texts, website links, and any usernames or phone numbers. The FBI says transaction details are usually the most useful evidence you can give to the authorities.

How to Report a Crypto Scam

The process will differ from country to country, but for the US, the primary reporting portal is the IC3.

Regardless of their location, victims should submit wallet addresses, transaction hashes, payment amounts, exchange details, a timeline of events, and any messages with the scammers. Even the tiniest details are helpful, so it’s important to note how the first connection with the scammer happened, what platforms were used to communicate, any websites used, and any phone numbers or other identifying info the scammers provided.

If you don’t have all the blockchain data, the FBI notes that filing a report with whatever proof you have available is still helpful. Additionally, for the US victims, the agency says they should still file a report on its website, even if there was no financial loss.

In case the funds were sent through a regulated exchange like Coinbase, Kraken, Binance, or Gemini, reach out to the respective company’s fraud team right away. Some exchanges can flag suspicious wallets or work with law enforcement if the funds haven’t been pulled out yet.

The FBI also suggests filing a report with your local police, especially in a situation where there’s a sizable financial loss. A police report can be useful for insurance claims, tax purposes, or potential follow‑up investigations.

Unfortunately, crypto scams continue to be prevalent. According to the FBI’s crime report, last year, just in the US alone, there were approximately $7.2 billion in reported losses from cryptocurrency fraud. So, stay alert and be wary of who you talk to and what information you give.

Related: Bitget Launches Third Anti-Scam Month With Multi-Asset Fraud Report