Internet Recovery Scam Targets Crypto Victims

A particularly predatory scheme currently infesting the internet is the "recovery scam," which specifically targets victims who have already lost money to cryptocurrency or stock fraud. These criminals monitor online complaint forums and social media groups, then directly contact the distressed individuals, posing as fund recovery specialists or even law enforcement officials. They brazenly promise, for a steep upfront fee, to trace and reclaim the stolen assets using non-existent contacts or special software. A telling red flag is their absolute refusal to engage in a live video call, hiding behind text-based communication to conceal their identity and fabricated office settings. The fraud escalates when, after a short period—often just two or more days—they call to announce the "successful" recovery of your funds. However, they then demand a final payment in cryptocurrency to a new, untraceable wallet, supposedly to cover "release fees" or "taxes." In reality, this manipulative finale simply inflicts a second, devastating financial wound, as the scammers vanish with this final payment, leaving victims even more devastated than before.