Crypto scams in 2026: the patterns behind the biggest losses, and how to protect yourself

Crypto transfers are fast and, once confirmed on a blockchain, generally cannot be reversed. These are the same features scammers rely on. The best protection is to recognise the common patterns before you send anything.

What the numbers say

The FBI's Internet Crime Complaint Center (IC3) publishes an annual report based on complaints from the public. Its 2025 report, released in April 2026, recorded:

• 181,565 complaints involving cryptocurrency, with reported losses of about USD 11.4 billion;
• crypto investment fraud as the largest source of reported losses, at about USD 7.2 billion;
• more than 10,000 complaints about recovery scams, which target people who have already lost money;
• more than 13,000 complaints involving crypto ATMs or kiosks.

These figures cover complaints filed with the FBI, mostly from the United States, so they do not show the whole picture. The pattern is international, though. The Financial Action Task Force's 2025 update on virtual assets noted a significant rise in the use of crypto-assets in fraud and scams. It cited one industry estimate of about USD 51 billion in illicit on-chain activity linked to fraud and scams in 2024.

The patterns to recognise

1. The patient investment "opportunity". The IC3 report describes scams that often begin with a text, a social media message, an advert or a dating app. The conversation quickly moves to a private messaging app. You are introduced to an "expert" or an investment group, shown a professional-looking platform and encouraged to start small. Your account shows growing profits. When you try to withdraw, you are asked to pay "taxes" or "fees" first. The money was never invested.

2. The recovery offer. After a loss, someone contacts you claiming to be a lawyer, an investigator or even a government agency, and offers to get your money back for a fee. The IC3 report specifically warns about fictitious law firms and people impersonating the IC3 itself. Real authorities do not charge you to recover funds.

3. The impersonated institution. A message or call claims to be from your bank, your crypto provider, technical support or a government body. It warns that your account is at risk and asks you to move funds to a "safe" wallet, install software or share a code.

4. The cash-to-crypto request. Someone tells you to withdraw cash and deposit it into a crypto ATM, or to scan a QR code they send. The FBI has warned about this pattern specifically.

Checks before you send

• Slow down. Urgency is the scammer's main tool. A real opportunity or a real security team will not require you to act within minutes.
• Verify through a channel you choose. Hang up and call your provider using the number in its app or on its official website, not one you were given.
• Never share recovery phrases, passwords or one-time codes. No legitimate provider will ask for them.
• Check the platform is authorised. In the EU, the European supervisory authorities advise checking that a crypto-asset provider is authorised. ESMA publishes a register of authorised crypto-asset service providers.
• Be wary of withdrawal "fees". Being asked to pay before you can withdraw your own money is a classic warning sign.
• Send a small test first to a new address. A test does not protect you against a scammer, but it does protect against typing mistakes.
• Talk to someone you trust before sending a large amount.

If something has gone wrong

Stop sending money. Contact your provider straight away through its official channels. Report the fraud to the police and to the relevant national authority where you live. Keep records: messages, wallet addresses, transaction references and website addresses. Be very cautious of anyone who then offers to recover your funds for a fee.

How NovaPayx helps

Never share your password, one-time codes or recovery phrase with anyone. Never move funds because someone tells you to move them to a so-called "safe account". Withdrawals from NovaPayx go to bank accounts and wallets in your own name. Before you confirm a conversion, you see the rate, the fee and what you will receive. If you are unsure about a message that claims to come from us, contact support through the app.

Next steps

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