How not to lose your crypto
A checklist: what never to do, how to protect yourself, and what to do if it has already happened.
Never do this
- Never tell anyone your recovery phrase (12–24 words) or private key. No exchange, support team or police officer will ask for it. Whoever asks wants to steal.
- Never invest through someone you met online: on a dating app, Telegram, WhatsApp or Facebook. That is how most scams start, even after months of chatting.
- Never believe guaranteed profit. “2% a day”, “no risk”, “today only” always mean a scam.
- Never pay to withdraw your own money. If a “fee”, “tax” or “insurance” is demanded before a payout, the money is already gone.
- Never install remote access apps (AnyDesk, TeamViewer and the like) because someone asks you to.
- Never answer “support” that wrote to you first. Real admins and exchange staff do not message first.
- A call from your “bank”, “exchange” or “the police”? Hang up and call the official number yourself.
- Never approve anything in your wallet you do not understand. One “Approve” or “Sign” on a fake site can empty the whole wallet.
- Check the whole recipient address, not only the start and end. Do not copy addresses from your transaction history: scammers plant look-alike addresses there.
- Never trust “recovery” services that guarantee your money back or want crypto up front. That is the second scam after the first.
How to protect yourself
- Type the exchange address yourself or open it from a bookmark. Fake sites appear in Google results and ads.
- Use an exchange licensed to operate in your country or region. Turn on two-step verification with an authenticator app, not SMS.
- Turn on the withdrawal address allowlist on your exchange, so money can only go to addresses you approved.
- Keep larger amounts on a hardware wallet bought only from the manufacturer.
- Now and then, check which sites your wallet has given permissions to and revoke the ones you do not need (for example with revoke.cash).
If it has already happened
- Do not pay anything more and stop talking to the scammers.
- Save the evidence: transaction IDs (TxID), addresses, amounts, times, and screenshots of the chats and the website.
- Report it at once to your exchange and to the police. The first hours matter most: while the money is still on an exchange, it can be frozen.
- If you need to trace where the money went and prepare evidence for the police and the exchange: trailforensics.com.
More guides
- Scammed in crypto: what to do in the first 24 hours
Step by step: what to save, whom to tell and why speed matters once USDT or other crypto has been sent to scammers.
- “We will recover your crypto”: how to spot recovery scams
After a scam, victims are often robbed a second time by “fund recovery” services. How to recognise them and what real help looks like.