This is a general education guide, not a recent incident report. It has no invented publication date.
01How it commonly works
Victims are guided to buy cryptocurrency on a real exchange and send it to an address controlled by the scammer, or to connect a wallet to a malicious site that requests token approvals. Once funds leave the wallet, transfers are usually irreversible.
02Warning signs
- Being told to move funds from your bank into crypto to keep them safe
- A website asking you to connect your wallet and sign approvals
- Anyone requesting your seed phrase or private key
- Support agents contacting you first on messaging apps
03Immediate protective actions
- 1Never share your seed phrase or private key with anyone
- 2Revoke suspicious token approvals using a reputable tool
- 3Move remaining assets to a new wallet you created yourself
- 4Report the receiving address to the exchange you used
Prevention tips
- Keep seed phrases and private keys offline and never share them with support contacts.
- Check wallet addresses, network and platform identity independently before transferring.
- Treat guaranteed returns, fake token promotions and requests for advance recovery fees as warning signs.
04Evidence to preserve
- Transaction hashes for each transfer
- Your wallet address and the receiving addresses
- Screenshots of the site and its web address
- Exchange account statements
05Relevant reporting agencies
Report to your national fraud reporting agency and notify the exchange where funds were purchased or sent.
Use the maintained reporting directory below. No separate source-verification date is claimed for this general guide.
Official channels for
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When to seek qualified legal advice
Consider legal advice where an exchange may be able to freeze funds, or for larger losses where tracing reports could support action.