The US Federal Bureau of Investigation (FBI) issued a public warning to individuals who have fallen victim to cryptocurrency scams and are seeking legal help to retrieve their lost assets.
In an alert released on Wednesday, the FBI highlighted that deceptive entities posing as law firms specializing in crypto recovery are targeting these victims, increasing their vulnerability to further fraud. These sham law firms risk exposing victims’ personal information and additional assets.
This latest advisory updates prior FBI cautions issued in August 2023 and June 2024. It strongly advises people to be wary of any unsolicited offers from so-called crypto recovery law firms or any legal service providers requesting payment exclusively via cryptocurrencies or prepaid gift cards.
The FBI’s notice specifically urges caution against law firms that initiate contact unexpectedly, especially for those who haven’t reported their initial losses to law enforcement or relevant authorities.
Blockchain security firm CertiK reports approximately $2.5 billion in cryptocurrency thefts—via hacks, exploits, and scams—occurred in the first half of 2025 alone. While some exchanges and companies can occasionally recover stolen funds, many victims remain without assistance and fall prey to fraudulent recovery schemes.
Related: Vietnam authorities dismantle billion-dollar crypto Ponzi operation behind Paynet Coin scam
Will seized crypto bolster US reserves?
As a leading US law enforcement agency, the FBI manages many cases involving cryptocurrency-related fraud, seizures, and scams. US Treasury Secretary Scott Bessent has indicated that cryptocurrency assets seized during investigations may contribute to a national cryptocurrency reserve after victims receive compensation.
Notably, in April, FBI agents in Dallas confiscated $2.4 million worth of Bitcoin believed to be tied to a hacking syndicate. Subsequently, federal authorities filed a lawsuit seeking control over these funds.
Alarming criminal activities have also escalated, with kidnappings targeting cryptocurrency holders or their family members as a means to extort access to digital assets. Alena Vranova, founder of SatoshiLabs, estimated that at least one cryptocurrency owner is targeted for kidnapping weekly worldwide.
Stay informed and vigilant to avoid falling victim to fraudulent recovery “law firms.” Always verify credentials, avoid paying with cryptocurrencies or gift cards upfront, and report scams promptly to the appropriate authorities.
