It’s the first question almost everyone who writes to us asks. The honest answer is: sometimes, but it depends on the case, and no one can guarantee it. This guide explains which factors matter, which options actually exist, and which promises to avoid.
Short answer
Sometimes, but no one can guarantee it. It’s possible when the funds reached an identifiable entity that can act —a bank, a card issuer, an exchange, or a court-appointed receiver— and you act in time. When the money moved through anonymous channels or a lot of time has passed, the odds go down.
The factors that matter most
- How you paid. Credit cards let you dispute charges within certain deadlines. Bank transfers and wires can sometimes be stopped if you alert your bank within hours. Payments through Zelle or other apps that you authorized are usually harder to reverse. With cryptocurrency, it depends on where the funds ended up.
- Time. The sooner you act, the more options you have: the funds may still be in an identifiable account, and claim deadlines are still open.
- Where the money went. If it reached an exchange or a bank that verifies its customers’ identities, there is a point where authorities or an attorney can make formal requests.
- Whether there is a government action. When the SEC or the CFTC sues a scheme, a court may appoint a receiver who distributes whatever is recovered among the victims.
- Jurisdiction. If the people responsible are in another country, legal options are slower and more expensive.
The options that actually exist
- Your bank or card issuer: claims, disputes, and chargebacks.
- The exchange: report the destination addresses and, through the authorities or an attorney, request information or a freeze on the funds. Learn more about crypto tracing.
- The receiver: if there is one, filing a claim is usually free. Learn more about investment scams and Ponzi schemes.
- Legal action with a licensed attorney, when the amount and the evidence justify it.
- Reports to IC3, the FTC, or the CFTC: they don’t return your money on their own, but they create a record and feed investigations. Where to report.
What doesn’t work
Be wary of these promises
“We recover 100%,” “we work with the FBI,” “pay a fee to release your funds,” or “a hacker can get your money back.” These are typical signs of a recovery scam, which charges upfront fees to people who have already lost money.
How to know if your case is viable
Before you pay anyone, it’s worth organizing your evidence and looking at the factors above in your specific case. That’s what we do in the free evaluation: we tell you in writing whether it’s worth moving forward and how much each option would cost. If it isn’t viable, we tell you that too.
If the scheme has already been sued by the SEC or the CFTC, read what a receiver is and how to file a claim.
If you paid by card or from your bank, we explain how to request a chargeback or dispute.
