The Federal Bureau of Investigation (FBI) issued a public service announcement for victims of cryptocurrency scams, warning them to be careful when seeking legal advice to recover funds.
In a notice on Wednesday, the FBI stated that fictitious law firms are targeting individuals who have previously been scammed out of cryptocurrency, putting them at further risk. According to the bureau, the actions of these scammers make victims vulnerable to leaking personal data and other funds.
The announcement also reminded people not to accept any recommendations for "cryptocurrency recovery law firms" or to pay fees with cryptocurrency or prepaid gift cards.
"Be cautious of sudden law firm contacts, especially when you have not reported a crime to any law enforcement or civil protection agency," the announcement stated.
According to data from blockchain security company CertiK, approximately $2.5 billion in cryptocurrency was lost due to hacking, vulnerabilities, and scams in the first half of 2025 alone. Although in some cases exchanges or companies could recover user funds, many victims of attacks still have to resolve issues on their own.
Related News: Vietnamese police dismantle a multi-billion cryptocurrency Ponzi scheme: Paynet Coin case
Will the U.S. reserves be enhanced with seized cryptocurrencies?
As one of the law enforcement agencies in the United States, the FBI is often responsible for cases involving cryptocurrency-related scams, seizures, and fraud. According to U.S. Treasury Secretary Scott Bessent, any seized digital assets will be included in the national cryptocurrency or Bitcoin (BTC) reserves, after compensating the victims.
In April this year, the Dallas FBI seized $2.4 million worth of BTC related to members of a hacking organization. Federal officials filed a lawsuit in July seeking a claim on the funds.
In some more shocking criminal activities, criminals even kidnap individuals or their family members in an attempt to steal their cryptocurrency assets or demand ransom. Alena Vranova, founder of SatoshiLabs, estimates that at least one Bitcoin holder is targeted every week worldwide.
Magazine: Philippines blocks major cryptocurrency exchanges, Coinbase scammer hides assets: Asia Express
