tl;dr
The FBI has warned victims of crypto scams to avoid fake law firms offering recovery services that demand payment in cryptocurrency or prepaid gift cards. Approximately $2.5 billion was lost to crypto hacks and scams in early 2025. While some stolen funds are recovered by exchanges, many victims ris...
The US Federal Bureau of Investigation (FBI) has issued a public service announcement warning victims of crypto scams to be wary of fictitious law firms offering recovery services. These fake firms target individuals previously defrauded of their cryptocurrency, further endangering their personal data and remaining assets. The FBI specifically cautioned against law firms that request payment in cryptocurrency or prepaid gift cards, emphasizing skepticism toward unexpected legal assistance, especially if the crime has not been reported to authorities.
According to blockchain security company CertiK, approximately $2.5 billion was lost to hacks, exploits, and scams in the first half of 2025. While some exchanges or companies manage to recover stolen funds for users, many victims must navigate the recovery process on their own, making them vulnerable to additional fraud attempts.
The FBI often leads investigations into crypto-related crimes such as scams, seizures, and fraud. US Treasury Secretary Scott Bessent noted that seized digital assets, including Bitcoin, are intended to boost the national crypto reserve after compensating victims. A recent example includes the Dallas FBI's seizure of $2.4 million in Bitcoin linked to a hacking group, with federal authorities actively pursuing legal claims on the assets.
One of the more disturbing trends in crypto crime involves kidnappings related to digital asset ransom demands. SatoshiLabs founder Alena Vranova estimates that at least one Bitcoin holder worldwide faces such threats each week, illustrating the growing risks associated with cryptocurrency ownership.