How the recovery scam works
A recovery scam targets people who have already lost money to fraud. Someone makes contact claiming they can get your lost funds or cryptocurrency back, posing as a recovery agent, a lawyer, a fund manager or even an official body. They sound knowledgeable and sympathetic, and they may already know details of your earlier loss.
To start the recovery they ask for an upfront fee, a tax, a deposit or your account access. No money is ever returned; instead you lose a second time, and the scammers may sell your details to others who try again.
Why it works and who is targeted
This scam works because the hope of undoing a painful loss is powerful, and an offer of rescue can feel like a lifeline. Victims are often distressed and may lower their guard with anyone who promises help and speaks the language of authorities or finance. Knowing details of the first scam makes the recovery offer seem credible.
The people targeted are specifically those who have already been defrauded, since their contact details circulate on so-called sucker lists shared among criminals. The FBI and Action Fraud warn that a second approach after a loss is itself a strong sign of fraud.
Warning signs in detail
The strongest warning sign is being contacted out of the blue by someone offering to recover money you lost, especially if they want payment before any results. Be suspicious of any upfront fee, tax or deposit, of requests for remote access to your computer or accounts, and of guarantees that funds will definitely be returned.
Claims to represent a government agency, court or a special crypto recovery service, often with official-looking documents, are common. Real authorities do not charge individuals a fee to recover stolen funds and do not approach victims this way.
How to protect yourself and what to do
Treat any unsolicited recovery offer as a likely second scam and do not pay any fee or grant account access. Genuine help with fraud comes through the police, your bank and official consumer bodies, which you can contact yourself rather than through someone who approached you. Verify any agent or firm independently before trusting them.
If you have lost money to fraud, report it through official channels such as the police, the FTC, Action Fraud or the Verbraucherzentrale, and be wary of anyone who contacts you afterwards. Keep records of all communications, and remember that being targeted again is not your fault.
