Losing access to your cryptocurrency wallet is distressing, but when disaster strikes, it’s important to watch out for crypto recovery scams. Bad actors prey on the desperation of users by offering false hope — and while cryptocurrency recovery is often possible, scams are common.
Legitimate recovery requires deep technical expertise, specialized tools, and a secure environment. Below, we’ll outline some of the major red flags that identify scammers. You can also check out the FTC’s tips for avoiding crypto scams to learn more about general scams related to crypto, tokens, and NFTs.
If you’ve lost access to your crypto, we’re here to help. Datarecovery.com has an established track record as a trusted provider, and with real laboratories at each location, we’re uniquely qualified to provide password recovery, hard drive data recovery, seed phrase reconstruction, and other advanced services for crypto users.
For a risk-free evaluation, call 1-800-237-4200 or submit a case online.
Crypto Recovery Scam Red Flag #1: Demanding Upfront Fees
A fraudulent operator will ask you to pay a fee before any work is done or any funds are recovered. They might call it a “tool fee,” an “analysis fee,” or a “network tax.” Once you pay, they will either disappear or invent a series of new, escalating fees for fictional problems they encounter.
A reputable data recovery service operates on a performance-based model. That’s especially the case when dealing with crypto — while it’s defensible to charge for ongoing work, providers should not charge to evaluate your case.
At Datarecovery.com, we’ve built our services around results, not up-front fees:
- Risk-Free Evaluation: Before attempting recovery, we need to determine if a recovery is possible. We provide a free evaluation to assess the situation without any financial commitment from you.
- No Data, No Charge Guarantee: If we cannot recover your data, you do not pay a recovery fee. We’re only compensated for successful results.
Crypto Recovery Scam Red Flag #2: “Guaranteed” Success
Cryptocurrency recovery — whether it involves a forgotten password, a damaged hardware wallet, or a corrupted file — is an incredibly complex process. The nature of decentralized currency means that there are some situations in which recovery isn’t possible. No business can provide a 100% guarantee of success.
An honest expert will be transparent about the potential challenges and the realistic probability of success after an initial assessment. While we utilize industry-leading techniques and have the capabilities to provide the best possible chance of success, we will never offer a blanket guarantee before a thorough evaluation.
Related: Before Using Data Recovery Software, Read This
Crypto Recovery Scam Red Flag #3: Requests for Your Private Keys or Seed Phrase
Your seed phrase (also called a recovery phrase) and private keys are the master keys to your cryptocurrency wallet. Anyone who possesses them has total control over your funds.
To be clear, if you have your seed phrase, you don’t need data recovery — you can simply recreate your wallet. We’ve written a guide for seed phrase recovery here.
Bad actors may ask you to:
- Enter your seed phrase into a website they provide (a phishing site).
- Share your screen while you have your wallet open.
- Read your seed phrase to them over the phone or in a chat.
- Send them your unencrypted wallet file along with your password.
Under no circumstances should you ever share your seed phrase or private keys with anyone you do not trust implicitly. A professional recovery process is designed to work on the encrypted data without needing your raw keys.
Crypto Recovery Scam Red Flag #4: Anonymity and a Lack of Verifiable History
Trust is paramount in data recovery. Scammers thrive on anonymity, often using generic social media profiles, chat applications like Telegram, or untraceable email addresses. Before engaging any service, ask yourself:
- Do they have a physical address? A legitimate company has real offices and laboratories. Datarecovery.com, for example, has multiple secure laboratory locations across the country.
- How long have they been in business? Scammers pop up and disappear quickly. A long track record is a sign of legitimacy; Datarecovery.com has been a leader in the data recovery industry for over 25 years.
- Do they have a professional website and real reviews? Look for a history of verifiable customer testimonials and a professional online presence that extends beyond a single social media page.
If the “service” has no physical footprint, no company history, and no public reputation to protect, you should be extremely cautious.
If You’ve Lost Crypto, We’re Here to Help
For over 25 years, Datarecovery.com has been a trusted leader in the data recovery industry, and our approach to cryptocurrency recovery is built on that same foundation of security, transparency, and expertise. We use purpose-built systems within secure, audited laboratories to handle your sensitive data.
Our risk-free evaluations and “no data, no charge” guarantee limits your risk — and gives you peace of mind when crypto recovery is necessary.
Contact Datarecovery.com at 1-800-237-4200 for a free evaluation or submit a case online.
