What are crypto recovery scams?

OKX Learn

Published on Sep 11, 2024

Updated on Jun 02, 2026

103

FAQs

Crypto recovery scams involve offering fake services to help recover lost digital assets. Scammers typically build your trust before asking for an upfront payment. Once you send the funds, the scammer disappears.

Scammers often target people who post about lost crypto assets online, sometimes using sophisticated social listening tools to find those asking for help on platforms such as X. The scammer then uses fake stories, made up testimonials, and technical terms to gain your trust, before attempting to defraud you.

Thankfully, the red flags indicating a potential scam are easy to spot. They include promises of guaranteed recovery, requests for upfront payments, missing contact details, and requests for private keys.

Be skeptical of unsolicited help, never share private keys, thoroughly research recovery services, and use two-factor authentication (2FA) on all crypto accounts. If you do find yourself searching for help with recovery, be sure to keep a cool head and not let the emotional strain of lost assets cloud your judgement.

Disclaimer

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