Bitcoin and other cryptocurrencies lure with quick profits – but the number of fraud cases in the crypto world is steadily increasing. Legal expert Marco Rogert and other experts explain which fraud patterns are particularly common and how to effectively protect yourself against them.
From fake trading platforms to sophisticated romance scams, crypto scammers are becoming increasingly sophisticated. However, victims are not powerless. Below is an overview of typical schemes, warning signs, and strategies to protect yourself.
1. Typical scams in the crypto sector
"We repeatedly observe similar practices," explains Dr. Marco Rogert, a specialist lawyer for banking and capital markets law. "Deceptively real trading platforms simulate profits, but demand additional payments upon withdrawal – for example, for 'taxes' or 'activation fees'. At that point, the money is already at risk."
Other common scams:
- Ponzi schemes: New deposits are used to pay off older victims.
- Phishing & Wallet Hacks: Fake apps or emails access crypto accounts directly.
- Romance scams: Fraudsters use dating platforms to gain victims' trust and lure them into fake crypto investments.
"These networks operate internationally and rely on psychological pressure," Rogert emphasizes. "Quick action is crucial."
2. Legal options for those affected
Many victims believe their money is lost forever – but that's not true. Rogert explains: "Funds can often be recovered through civil claims against platforms, payment service providers, or banks. The sooner we get involved, the greater the chance of stopping transactions."
Various measures are used in this process. Crypto forensics It enables the tracking of transactions and the tracing of money flows. Cooperation with the police, public prosecutor's office, and reputable crypto exchanges increases the chances of success. In some cases, arrest warrants or injunctions can be used to protect funds from permanent loss.
3. Warning signs of dubious crypto offers
"Guaranteed returns should always arouse suspicion," warns Markus Miller, crypto expert and publicist. Missing official information such as imprint, terms and conditions, or privacy policies are also a clear warning sign. Anyone investing under extreme time pressure, communicating exclusively via messaging services, or unable to identify real contacts should be cautious.
Further indicators of fraudulent offerings include non-transparent products, a lack of public blockchain visibility for token offerings, or aggressive sales practices reminiscent of multi-level marketing. "In most cases, if it sounds too good to be true, it is," says Miller. Even a brief online search or a query via ChatGPT can help expose dubious providers.
4. Blockchain forensics: tracing money flows
„Every crypto transaction leaves a trace,“ explains David Lüdtke from the Crypto Investigation GmbH. Using modern Analysis tools Money flows on the blockchain can often be traced back to exchanges or cash-out points. The success rate increases significantly if those affected react quickly. "Those who contact us early have a realistic chance of securing their money before it is lost through complex wallet structures," says Lüdtke.
About Marco Rogert
Marco Rogert is a lawyer and business lawyer at the law firm Rogert & Ulbrich in Düsseldorf. He has many years of experience representing consumers and has successfully assisted thousands of VW buyers in the emissions scandal. As one of the lawyers for the Federation of German Consumer Organizations (vzbv), he played a key role in the success of the class action lawsuit against Volkswagen, which resulted in compensation for approximately 235,000 affected consumers through a settlement.
Rogert studied at the University of Osnabrück and the Leiden University in the Netherlands, specializing in transport law, international commercial law, and credit security law. Until May 2020, he taught commercial and logistics law at the University of Economics and Management (FOM) in Essen.
