FBI Warns of 'Fictitious Law Firms' Targeting Crypto Scam Victims
The US Federal Bureau of Investigation (FBI) has issued a public service announcement to warn victims of cryptocurrency scams about the dangers of fictitious law firms that claim to offer "crypto recovery" services. The bureau warned that individuals who receive unsolicited advice on using a "crypto recovery law firm" or are contacted by someone claiming to be a lawyer could be targeted by scammers.
The FBI's warning comes as part of an ongoing effort to educate the public about the risks of cryptocurrency scams and the importance of being cautious when seeking legal advice. The agency has issued similar warnings in August 2023 and June 2024, but this latest notice is particularly timely given the significant losses suffered by victims of crypto scams.
A Growing Problem
According to data from blockchain security company CertiK, there were approximately $2.5 billion in cryptocurrency lost due to hacks, exploits, and scams in the first half of 2025 alone. This staggering amount highlights the growing problem of cryptocurrency scams and the need for law enforcement agencies like the FBI to take action.
While some exchanges or companies may be able to recover user funds, many victims are left to navigate complex legal systems on their own. The FBI's warning serves as a reminder that there are legitimate law firms and organizations that can provide assistance in recovering lost cryptocurrency, but scammers will stop at nothing to take advantage of vulnerable individuals.
Protecting Yourself
To avoid falling victim to these scams, the FBI advises caution when receiving unsolicited advice or contact from someone claiming to be a lawyer. "Be cautious of law firms contacting you unexpectedly, especially if you have not reported the crime to any law enforcement or civil protection agencies," the notice reads.
Red Flags
- Crypto recovery law firms that charge payment in cryptocurrency or prepaid gift cards
- Law firms contacting you unexpectedly, without prior knowledge of your case
- Offers to recover lost funds for a fee
By being aware of these red flags and taking steps to protect yourself, individuals can reduce their risk of falling victim to cryptocurrency scams. The FBI urges anyone who has been targeted by a scammer to report it to the authorities immediately.
The Role of Law Enforcement
The FBI's involvement in cases involving cryptocurrency scams is significant, as they often take the lead on seizures and fraud cases. According to US Treasury Secretary Scott Bessent, any digital assets seized by authorities will be added to the national crypto or Bitcoin stockpile after victims have been compensated.
Recent Cases
In April, the Dallas FBI seized $2.4 million worth of Bitcoin allegedly associated with a member of a hacking group. Federal officials filed a lawsuit in July seeking a claim on the funds. These cases highlight the FBI's commitment to combating cryptocurrency scams and protecting victims.
Conclusion
The FBI's warning about fictitious law firms targeting crypto scam victims serves as a reminder that these scams are becoming increasingly sophisticated and brazen. By being vigilant and taking steps to protect yourself, individuals can reduce their risk of falling victim to these scams. Remember: if it seems too good (or bad) to be true, it probably is.