How crypto gets lost or stolen

What happens. A look-alike website, email or ad captures your login details or tricks you into connecting your wallet.

Warning signs. Urgent messages, a web address that is slightly off, or a link that arrived by email, ad or direct message.

What to do. Don’t click it. Type the address yourself or use a bookmark. If you already entered details, change your passwords, switch on authenticator-app login and move funds from any affected wallet to a new one.

What happens. A stranger builds trust over weeks, usually by message, then steers you to a fake trading platform that shows made-up profits. Withdrawals are blocked unless you pay more.

Warning signs. A new contact who moves the chat to a private app, guaranteed returns, pressure to deposit more, or a platform you can’t independently verify.

What to do. Stop depositing and never pay “fees” or “taxes” to release funds. Save the chats, platform name and transaction details, then report it.

What happens. An online partner or a “celebrity giveaway” persuades you to send crypto, often promising to send more back.

Warning signs. Someone who never meets on video, asks for money, or says “send X to receive 2X.”

What to do. Stop sending. A real giveaway never requires you to send crypto first.

What happens. After a loss, someone contacts you promising guaranteed recovery for an upfront fee, or asks for your seed phrase.

Warning signs. Unsolicited contact, guarantees, requests for keys, or payment demanded in crypto.

What to do. Don’t pay or share anything. Check any firm independently before engaging, and report the approach.

What happens. Someone pretends to be your exchange or wallet support through social media, direct messages or a fake phone number and asks you to “verify” your wallet or share your screen.

Warning signs. Support contacting you first, or anyone asking for your seed phrase, codes or remote access.

What to do. End the contact. Reach support only through the official app or website. Real support never asks for your seed phrase.

What happens. You connect your wallet to a site and sign a transaction that gives it permission to move your tokens.

Warning signs. Unexpected signature requests, unfamiliar sites, or unknown tokens that appear in your wallet and point you to a website.

What to do. Don’t sign what you don’t understand. If you did, revoke the approval using a reputable token-approval tool and move remaining assets to a new wallet.

What happens. An attacker sends a tiny transaction from a look-alike address so it appears in your history, hoping you copy it by mistake.

Warning signs. An address whose first and last characters match one you use but differs in the middle.

What to do. Check the full address every time, use a saved address book and send a small test amount first.

What happens. A heavily promoted token or project collapses when its creators drain the funds or buyers find they can’t sell.

Warning signs. Anonymous teams, intense hype, no independent review, or an inability to sell.

What to do. Research before buying and ignore pressure. If it happened, record the token contract address and your transactions for a report.

What happens. An attacker has your phone number moved to their SIM, or reuses a leaked password, then resets your exchange logins.

Warning signs. Sudden loss of phone service, or password-reset messages you didn’t request.

What to do. Call your carrier at once, lock your exchange accounts and use an authenticator app or security key instead of SMS. Use a unique password for every account.

What happens. Malicious software steals saved keys or silently swaps the address you copied for the attacker’s.

Warning signs. Pirated software, unexpected attachments, or a pasted address that differs from the one you copied.

What to do. Install software only from official sources and check every pasted address. If infected, move funds using a clean device.

What happens. A platform is breached or fails, and funds held there are lost or frozen.

Warning signs. Withdrawal delays, changing terms or unrealistic yields.

What to do. Avoid leaving large balances on platforms you can’t verify, follow official notices and file claims in any insolvency process.

What happens. The wallet becomes permanently inaccessible. There is no reset, and nobody can recover a seed phrase for you.

Warning signs. Backups kept only in a screenshot, cloud note or email, or in a single place.

What to do. Keep offline backups in more than one secure location. Be wary of anyone who offers to “crack” a wallet for a fee.

What happens. A phone is lost or a hardware wallet breaks.

Warning signs. A device that won’t start or is no longer in your possession.

What to do. Restore your wallet on a new device using your seed phrase backup.

What happens. A typo, or sending on a network the receiver doesn’t support, usually can’t be reversed.

Warning signs. Sending without checking the address or network, or skipping a test transfer.

What to do. If the address belongs to an exchange, contact its support immediately with your transaction details. Next time, send a small test first.

What happens. Assets become inaccessible because nobody knows they exist or how to reach them.

Warning signs. No written plan and no trusted person who knows where to look.

What to do. Make a secure inheritance plan with written instructions and legal documents. Never leave your seed phrase in plain sight.