ComplaintAdda
Fact CheckedLast Updated: 5 July 2026Reviewed By: ComplaintAdda Editorial Team

Crypto Scam

Crypto scams range from fake exchanges that block withdrawals to Ponzi-style 'guaranteed return' investment schemes. Because crypto lacks the same regulatory protection as banks, prevention and rapid reporting matter even more.

What Is It

Fraud involving fake or unregistered cryptocurrency exchanges, wallets, or investment schemes that collect deposits and then block withdrawals or disappear entirely.

When To Use It

Report as soon as a platform blocks your withdrawal, demands extra 'tax' or 'fee' to release funds, or you realize the promised returns were fabricated.

Step-by-Step Process

  1. 1Stop sending any further money, especially any 'fee' demanded to unlock a withdrawal.
  2. 2Collect all transaction hashes, wallet addresses, and screenshots of the platform/app.
  3. 3File a complaint on cybercrime.gov.in under 'Report Financial Fraud'.
  4. 4Also call 1930 if a bank transfer was involved in funding the crypto purchase.
  5. 5Report the fraudulent exchange/app to the app store and any exchange you used to move funds.

Documents Required

  • Wallet addresses and transaction hash/ID
  • Screenshots of the platform/app and promised returns
  • Bank statement for funds moved to crypto
  • Any chat with the promoter/agent

Fees

Free to file on cybercrime.gov.in or via the 1930 helpline.

Processing Time

Blockchain-based fraud investigations can take longer than typical bank fraud, often 60–180 days, due to cross-border tracing.

Important Tips

  • Only use exchanges registered with India's Financial Intelligence Unit (FIU-IND).
  • No legitimate investment guarantees fixed daily/monthly returns — that is a Ponzi scheme red flag.
  • Never pay an extra 'fee' or 'tax' to unlock a withdrawal — this is always a scam tactic.

Frequently Asked Questions

Recovery is harder than bank fraud because blockchain transactions are often irreversible and cross-border; reporting quickly still helps investigators trace the wallet.
This article is for general information only and does not constitute legal advice. Always verify with the official source before acting.