In short
If you have been scammed with crypto, several UK organisations each have a role: Report Fraud or Police Scotland for the crime report, the FCA for a report about the firm, and your bank for the payment you used to buy crypto. Paucitas adds the investigation into the money flow: we reconstruct the payment route on the blockchain and record it in a report anyone can follow step by step. That gives your report substance. We do not promise that your money will come back. Ring us day or night, or book a free intake.
Paucitas is an independent expert firm in the Netherlands that investigates investment fraud and crypto fraud, establishes the origin and legitimacy of crypto assets and prepares expert reports for legal proceedings and compliance.
On this page
- I have been scammed with crypto, what should I do first?
- Which UK organisation can I turn to after a crypto scam?
- Who investigates crypto investment scams?
- Which routes run side by side?
- Which authority does what?
- What can I expect, and what not?
- Can I get help if the provider is based abroad?
- Frequently asked questions
- What can you do now?
I have been scammed with crypto, what should I do first?
Stop making further payments and keep everything: transaction hashes, wallet addresses, the communication and the platform details. Contact your bank straight away on 159 or the number on the back of your card. Then have it investigated where the money went: Paucitas follows the payment route and records the findings in a report. Do not pay anything to parties that promise to get your money back.
What you can record today
- The transaction hashes and wallet addresses of every deposit and withdrawal.
- Bank statements showing the payments you used to buy or send crypto.
- Chats, emails, phone numbers, and the name and web address of the platform.
- Screenshots of your account on the platform, with the balance and date visible.
- A short timeline: how did you come across the provider, and when did you pay what?
Do not reply to messages asking for one more payment for tax, unlocking or withdrawal. Those are well-known signs of the same scam coming round a second time.
Further reading: the blogs what you can do right after a crypto scam and how to secure evidence after a crypto theft.
Which UK organisation can I turn to after a crypto scam?
You report the crime to Report Fraud (England, Wales and Northern Ireland) or to Police Scotland on 101, and you raise the payment with your bank. For the factual investigation into the money flow, you can turn to Paucitas. We do not just refer you elsewhere, we provide the substantiation: a report that anyone can follow step by step, so those parties have something to work with.
Why investigate first and report with evidence
A report without evidence is a story. A report with transaction hashes, times and the end point of the route is a case an investigator can act on. If the route ends at an exchange under supervision, the police can request information there. If you have already reported, you can usually add the report later under your crime reference number.
Further reading: the blog what authorities still miss in crypto and investment fraud.
Who investigates crypto investment scams?
Paucitas, an independent expert firm based in the Netherlands, investigates which addresses and services your crypto went to and where the trail recognisably ends, wherever you live. We give a factual picture and record the facts in a report that can be checked outside our firm too.
How the investigation works
Paucitas does all its tracing itself, without tracing tools. We follow each transaction separately, from your first deposit to the point where the money reaches a recognisable service, such as an exchange with identification duties. Where certainty stops, for example at a mixer, the report says so plainly.
Paucitas does not establish who controls an address. We record where the trail ends at a party that holds customer data, so the police can take it further from there.
Further reading: the blog why manual blockchain investigation delivers more.
Which routes run side by side?
If you have been scammed with crypto, there are several routes in the UK that run side by side. The police take the report and assess whether an investigation is possible: in England, Wales and Northern Ireland through Report Fraud, in Scotland through Police Scotland. The Financial Conduct Authority can use a report to get a firm on its radar. Your bank may be able to do something about the payment you used to buy crypto. And an investigation firm records the factual route.
These routes do not exclude each other, but they do need the same foundation. Each of these parties wants to know which amount went where and when, and how you ended up with the provider. If you put that information in order first and only then start knocking on doors, you will find that conversations become shorter and more concrete. So start by recording, and only then choose a route.
Which authority does what?
No authority will find out for you where your crypto went. Each authority does have its own role. Below you can see per authority what it does, and what an investigation report adds.
| Authority | What for | What Paucitas adds |
|---|---|---|
| Report Fraud (England, Wales and Northern Ireland) | Reporting fraud and cyber crime | A report with the money flow, addresses and amounts to support your report |
| Police Scotland | Reporting fraud in Scotland, on 101 | The same report, so the officer taking your report can see the route straight away |
| Financial Conduct Authority (FCA) | Reporting a scam, Warning List, Firm Checker | Facts about your case that you can use in a report to the regulator |
| National Cyber Security Centre (NCSC) | Reporting scam emails and websites | A record of the messages and websites that were part of the scam |
| Your bank | Stopping payments and, for some bank transfers, reimbursement | An overview of the bank payments that were part of the scam |
Report Fraud and Police Scotland: what do they do for you?
In England, Wales and Northern Ireland you report fraud to Report Fraud, the national reporting service that replaced Action Fraud, online or on 0300 123 2040. Its guide to reporting explains which details to have ready. In Scotland you report fraud to Police Scotland on 101; see its advice on scams and frauds. With crypto, wallet addresses and transaction IDs belong in your report too.
Not every report leads to a criminal investigation. The better your report is substantiated, the more there is for the police to work with. The police and the FCA also warn against so-called recovery companies that approach victims after a loss.
FCA: what does this authority do for you?
You can report a scam to the FCA, the UK’s financial regulator. On the FCA Warning List you can see which firms the FCA is concerned are operating without its permission, and with the FCA Firm Checker you can check whether a firm is authorised or registered.
The FCA states plainly that it cannot help you get your money back. It reviews every report, and your report mainly helps to protect others. The FCA also points out that crypto is largely unregulated in the UK, so there is usually no compensation scheme to fall back on if things go wrong (source).
NCSC: what does it do for you?
The National Cyber Security Centre asks you to forward suspicious emails to report@phishing.gov.uk, so that scam websites and addresses can be taken down. Suspicious texts can be forwarded free of charge to 7726.
The NCSC does not handle individual cases. A clear record of the messages and websites involved is useful for your police report as well.
Your bank: what can it do for you?
If you have lost money or think someone has access to your account, contact your bank as soon as possible, on 159 or the number on the back of your card. For bank transfers by Faster Payments or CHAPS from one UK account to another, the Payment Systems Regulator’s reimbursement rules for authorised push payment scams can apply; whether they apply to your payment is for your bank to assess.
For that assessment you need an overview of which payments were part of the scam, and where the money went afterwards. That is what the report provides.
What can I expect, and what not?
You can expect a verifiable report that makes your case concrete. What you cannot expect is a promise that your money will come back or that funds will be frozen; that is up to the police, your bank or the court. Be especially careful with parties that do make such a promise.
Beware of a second scam
After the first loss, parties often come forward that promise to get your money back for an upfront payment. They pose as solicitors, regulators or recovery firms and sometimes know exactly how much you lost. The FCA describes these recovery room scams and notes that fraud reports are not shared with private businesses. Read what a recovery scam is and how to recognise one.
Paucitas works without a success fee and without promises of recovery. You receive a bespoke quote in advance, so you know where you stand.
See also: the blog frequently asked questions about crypto fraud and scams.
Can I get help if the provider is based abroad?
Yes. You report the fraud in the UK, wherever the other party is located, and the investigation simply continues, because the blockchain has no borders. Paucitas follows the route and records what can be seen. For follow-up steps with a platform, its place of establishment does matter, which is why we record it when it appears from the data.
An example from practice
A composite example with details changed: a retired man invested through a platform that claimed to be based overseas. After an early profit, withdrawing became impossible without an extra payment. Paucitas followed his deposits through several intermediate addresses to an exchange with identification duties in Europe. With the report he contacted Report Fraud; the officer could see at once which exchange could be asked for information.
Frequently asked questions
Where do I report a crypto scam in the UK?
In England, Wales and Northern Ireland to Report Fraud, online or on 0300 123 2040; in Scotland to Police Scotland on 101. Tell your bank as soon as possible too, on 159.
Will the police or the FCA get my money back?
That depends on your situation. If you still have access to your own wallet or account holding funds, there may still be options. If everything has been sent to the fraudsters, the picture is different. That cannot be judged from a distance. Paucitas first looks at your situation and tells you honestly what is and is not possible. Be careful with anyone who promises in advance that your money will come back. In doubt? Contact Paucitas and you will know where you stand.
What exactly does Paucitas do?
Paucitas reconstructs the route of your crypto on the blockchain and records in a report anyone can follow where the trail ends. We do not promise that your money will come back.
Is an investigation worthwhile if the scam was months ago?
Often, yes. The blockchain stays readable, so an older route can still be followed. The sooner you start, the better the chance that an exchange can still secure data.
How long does an investigation take?
From the same day to around two weeks, depending on the number of transactions and networks. After the first conversation you will hear what timescale to expect.
What does it cost?
The intake is free. You then receive a bespoke quote in advance, before any work starts. The price depends on the scope of the case.
What can you do now?
Being scammed with crypto is distressing, and many people feel ashamed of it. There is no need. Get in touch; we will look honestly at what can be followed and tell you what is realistic.
Ring us any time, day or night, on +31 20 244 5774, fill in the contact form (you will hear from us within 1 to 3 hours) or email us (we reply within 24 hours, usually the same day). The intake is free and without obligation, and you receive a bespoke quote in advance.
Which pages belong to this topic?
- Crypto fraud investigation: the broader topic this page is part of.
- Police report: what reporting fraud involves.
- After reporting crypto fraud: the next steps
Short answers to specific questions
Short answers to specific questions are in the overview of questions and answers; the meaning of terms can be found in the glossary.
Further reading in the knowledge base
Your own situation
If you are reading this, you probably have a question about your own situation. That is exactly what Paucitas does.
The first step is contact by phone. You can book that call by phone or through the contact form, so you do not have to wait. In the call we look together at what can factually be established in your case and what Paucitas can examine for you.