Scam pattern
Crypto “recovery” & wallet-support scam
“We'll recover your lost crypto / secure your wallet”
Someone offers to recover crypto you lost, or claims your wallet is compromised and they'll move funds somewhere “safe.” They ask for your seed phrase, a fee, or remote access — all of which hand them your money.
How it’s usually worded
- “This is Coinbase Support — share your 12-word recovery phrase to migrate to a safe wallet.”
- “We can recover your stolen funds for a small upfront fee.”
- “Connect your wallet here to verify ownership: [link]”
Red-flag signals
- Seed-phrase request
Your recovery phrase is your wallet. No legitimate support ever asks for it.
- Upfront fee
“Recovery” services that charge first are a second scam on victims of the first.
- Unsolicited DM
Real exchanges don't DM you on Telegram/WhatsApp/X offering help.
- Wallet-connect link
Malicious dApps drain wallets the moment you approve.
What to do
Never share your seed phrase or connect your wallet to a link someone sent. Real exchanges contact you only inside their app. Report recovery offers — they target people who were already scammed.
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FAQ
Can lost crypto really be recovered for a fee?
Almost never, and never by someone who DMs you. Pre-paid “recovery” offers are themselves scams.
Does Coinbase/Binance ask for my recovery phrase?
No exchange or wallet will ever ask for your seed phrase. Anyone who does is trying to steal your funds.