FBI Warns Of ‘Fictitious Law Firms‘ Targeting Crypto Scam Victims

The US Federal Bureau of Investigation (FBI) has issued a public service announcement for victims of crypto scams in search of authorized recommendation to get well their funds.

In a Wednesday discover, the FBI said that fictitious regulation companies had been concentrating on people who had beforehand been scammed out of some or all of their crypto holdings, placing them at further threat. In line with the bureau, the scammers’ actions left victims vulnerable to compromising their private information and different funds.

The announcement, based mostly on an replace for comparable warnings from the FBI in August 2023 and June 2024, cautioned individuals in opposition to accepting help from anybody recommending a “crypto restoration regulation agency” or any regulation agency “requesting cost in cryptocurrency or pay as you go present playing cards.” 

“Be cautious of regulation companies contacting you unexpectedly, particularly if in case you have not reported the crime to any regulation enforcement or civil safety companies,” the discover reads.

In line with information from blockchain safety firm CertiK, there was about $2.5 billion in crypto misplaced on account of hacks, exploits and scams within the first half of 2025. Although in some instances exchanges or firms are able to recover user funds, a lot of these focused are left to their very own gadgets to hunt options.

Associated: Vietnam police bust billion-dollar crypto Ponzi ring behind Paynet Coin scam: Report

Seized crypto to bolster US stockpile?

As one of many US regulation enforcement companies, the FBI usually takes the lead on instances involving crypto-related scams, seizures, and fraud. In line with US Treasury Secretary Scott Bessent, any digital property seized by authorities would go towards the nationwide crypto or Bitcoin (BTC) stockpile after any victims had been compensated.

In April, the Dallas FBI seized $2.4 million BTC allegedly related to a member of a hacking group. Federal officers filed a lawsuit in July looking for a declare on the funds.