What To Do If You Lost Bitcoins Due To Scammers?

April 22, 2020


You paid Bitcoins or Other Cryptocurrencies

If you paid with bitcoins or other cryptocurrencies, then it is very difficult to do something, since cryptocurrency transactions are irreversible. In addition, in some jurisdictions, you will not find such authorities that should report this. This is one of the drawbacks of cryptocurrencies.

However, you can try the following strategies and try to save your money:

  1. Threaten scammers. Send them an email that you are going to inform the financial authorities if they do not return your money. This may not work, but worth a try.
  2. Inform the financial authorities. Report the incident to the appropriate financial authorities in the jurisdiction in which the company operates. So that the government can take action. If, besides your complaint, there are others, then perhaps a lawsuit will be brought against them, or other measures may be taken.
  3. Contact the cryptocurrency wallet provider. Inform the crypto wallet provider that your last transaction was sent to scammers. The provider may terminate all transactions to fraudsters, preventing them from receiving funds in the future.
  4. Legal advice. Contact lawyers for help. It may be helpful to find out if it makes sense to claim damages. Despite the fact that the fees of lawyers can exceed the lost amount, it makes sense to assess your chances.
  5. Publish your story online. Make this story known in social networks so that others do not lose money in the same way.

You paid with a Credit or Debit Card

You may have paid crypto scammers with a credit or debit card. In this case, you can request a refund through the bank and receive appropriate legal protection.

Your request may be based on the fact that after the payment was made fraudsters violated the contract. Disappeared without providing in return bitcoins or what you paid for. Other conditions may be the minimum / maximum amount that banks would return in such cases. However, there is no guarantee that the bank will recover your losses.

You sent Money by Bank Transfer

If you sent your funds to a fraudulent platform through your bank account. You should immediately contact the bank and file a complaint stating that it was a transfer to scammers. By receiving your application, the bank may try to recover your funds.

PayPal Payments

If you paid to scammers through PayPal but did not receive a service or product. You can contact PayPal Buyer Protection to recover your funds. However, there are some limitations to this protection scheme.

If the fraudster created a fake PayPal payment page to receive your bank details, then PayPal Buyer Protection will not help you. In this case, the PayPal brand is used without the knowledge of a company that has nothing to do with scammers.

Payments Through other Payment Systems

The use of banking services such as MoneyGram, PayPoint, or Western Union provides for a certain policy when sending money to crypto scammers. The user has a chance to return their funds. The above services offer tips on how to avoid payment fraud.

Payment Without your Authorization

If the fraudster has accessed your bank account or credit card. You can report an illegal transaction to your bank.

Or, if you used your card to pay for a certain service. And then found that the card was charged more than you were going to spend. You can also apply for a refund. Such unauthorized transactions should be reported to your bank as soon as possible.


There is nothing worse than breaking up with your cryptocurrency or money because of scammers. The above recommendations may not always help to return the funds. But such options are always better than giving up without a fight.

Please always be careful before giving your money to any services, companies, or platforms.

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