Crypto scam types in the UK — complete list and how to report
Quick answer: Never share seed phrases, send crypto to ‘fix’ an account, or trust guaranteed returns. Verify firms on the FCA register. Report scams to Action Fraud and the FCA. Recovery scams target people who already lost money — never pay upfront fees to ‘get crypto back’.
Scammers adapt quickly. This hub lists the patterns Action Fraud and the FCA warn about most often, with what to do if you are targeted.
Clone firm and impersonation scams
Fake websites and call centres copy FCA-authorised firms. Details differ slightly from the real register entry. Always verify on register.fca.org.uk yourself.
Pause. Verify. Protect your next step.
Do not let a deadline or a promised return rush you
Do not use contact details supplied by a suspected scammer to verify their story. A demand for an upfront recovery fee is another warning sign.
Read the diagram as text
- 01. Pause. Stop and question demands for another payment or a secret.
- 02. Verify. Check the firm and contact details independently.
- 03. Preserve evidence. Keep messages and transaction details; follow the reporting guide.
Source: FCA crypto investment scams
Phishing and wallet drainers
Emails and DMs link to fake login pages or malicious ‘approve’ transactions. Never click links in unsolicited messages. Type URLs manually.
Pig butchering and romance scams
Scammers build relationships on dating apps or social media, then introduce ‘investment’ platforms showing fake profits. Withdrawals are blocked. Often run from overseas call centres.
Fake celebrity endorsements and AI ads
Deepfake videos promote fraudulent platforms. Celebrities rarely endorse crypto schemes. FCA flags unauthorised promotions regularly.
Pump-and-dump and rug pulls
Coordinated hype drives price up; insiders sell. New tokens with anonymous teams can disappear overnight. Most meme coins are high-risk gambling, not investing.
Recovery scams
After a loss, someone offers to recover funds for a fee. The fee is the scam. See our recovery scams guide.
How to report
Action Fraud (actionfraud.police.uk) for crimes. FCA warning list for unauthorised firms. Your bank if you sent fiat. Preserve screenshots and transaction hashes.
Frequently asked questions
Can police recover stolen crypto? +
Rarely. Blockchain transfers are usually irreversible. Reporting still matters for investigations.