What scams exist, what legal steps are possible, and why every week counts.
Cryptocurrencies are in the media every day – and scammers are exploiting this interest. Anyone who falls for a fake trading platform or a Romance Scam Those who have fallen victim to this scam often believe their money is irretrievably lost. This is not always the case. Whether and how much can be recovered depends heavily on the individual circumstances – but above all on how quickly the right steps are taken. Rogert & Ulbrich advises those affected by this scam. Crypto fraud and provides support in the legal enforcement of claims for reimbursement.
What is cryptocurrency fraud? Legal classification
Crypto fraud refers to any form of deception in which cryptocurrencies are used either as bait or as a means of payment. The spectrum ranges from fake trading platforms and fictitious coins to pyramid schemes and manipulated wallets. German law does not recognize a specific criminal offense of "crypto fraud." Legally, in most cases, it is considered classic fraud under Section 263 of the German Criminal Code (StGB): deliberate deception that creates an error in the victim and leads to financial loss. Depending on the specific circumstances, other charges may include computer fraud under Section 263a StGB, investment fraud under Section 264a StGB, or money laundering.
This classification is important for those affected: it means that criminal prosecution is possible – and that civil claims for damages exist. The chances of success depend on where the perpetrators are located, which platform the payment was processed through, and whether regulated cryptocurrency exchanges were involved in the transaction. A general assessment is not possible. Anyone who acts rashly and without legal advice risks hindering later investigations or harming themselves.
An overview of the most common scams
The perpetrators' methods are varied and professional. Some scams are particularly common in practice:
- Pig Butchering (Romance Scam): Perpetrators build an emotional relationship over weeks or months – via dating apps, WhatsApp, or Instagram. The contact appears random. Once sufficient trust has been established, the victim is led to a fake trading platform. Initially, small profits are displayed, and even initial withdrawals are possible. Then the pressure to make ever-larger deposits increases – until all the capital is lost.
- Fake investment platforms: Professionally designed websites with genuine SSL certificates, fake regulatory information, and deceptively realistic dashboards simulate legitimate crypto brokers. Deposited funds go directly to the perpetrators. As soon as a withdrawal is requested, suddenly "taxes," "compliance fees," or "unlock amounts" are demanded—a classic advance-fee scam. Those who pay lose more.
- Pump & Dump: Organizers acquire a worthless token and drive up its price through coordinated advertising campaigns. Telegram, They artificially inflate the price of X or YouTube and then sell off the stock suddenly. The price collapses, leaving unsuspecting investors stuck with worthless tokens.
- Rug Pull: Developers of a seemingly innovative DeFi or NFT project suddenly withdraw all liquidity from the smart contract or exploit hidden administrative privileges. The project disappears overnight, and social media channels are deleted.
- Phishing and fake wallets: Fake emails, text messages, and websites imitate well-known platforms like Coinbase, Binance, or MetaMask. Victims are tricked into entering their login credentials or seed phrase. The wallet is emptied in seconds.
- Impersonation and celebrity fraud: Perpetrators create deceptively realistic copies of social media profiles of well-known personalities and promise returns or repayments in exchange for cryptocurrency transfers. Even authorities like BaFin are impersonated – for example, through forged letters designed to exert pressure.
All these scams have one thing in common: the perpetrators work professionally, operate internationally, and use money laundering structures to conceal the flow of funds. Anyone who feels pressured to deposit more money or is asked to pay a "fee" to unlock a withdrawal should immediately stop all further transactions and break off contact.
Immediate action: What is crucial after a fraud case
The first hours and days after a cryptocurrency scam are often crucial for subsequent legal action. The sooner action is taken, the greater the chance of tracing the flow of funds.
What should be done immediately:
- No further payments – regardless of the pretext. Even if pressure is exerted or consequences are threatened: Every further transfer is lost.
- Break off contact – immediately sever all communication channels with the perpetrators.
- Secure evidence – take screenshots of chats, the platform, account balances, and all transactions. Record all contact information: phone numbers, email addresses, names used, AnyDesk or TeamViewer IDs.
- Record blockchain data – the wallet address(es) to which crypto was transferred, as well as the transaction IDs. This information is essential for forensic investigation.
- Be prepared for further contact attempts – many victims are approached again after the first scam, supposedly by "investigators," "recovery specialists," or "recovery companies." This is almost always another attempted scam.
Save all evidence before taking any further steps. Once deleted, it is usually impossible to fully recover it.
Criminal charges and blockchain forensics – why the two belong together
Filing a criminal complaint is advisable – but it's rarely enough on its own. Those who go to the police without legal representation often find that the authorities are overwhelmed and their own blockchain forensics resources are limited. Without forensically prepared transaction evidence, it often takes months or years before investigators can actually trace the flow of money. By then, wallets have long since been emptied and perpetrators have disappeared.
Blockchain forensics closes this gap. Cryptocurrencies are not anonymous – they are pseudonymized. Every transaction is permanently and publicly recorded on the blockchain. Specialized forensic experts can trace the flow of funds seamlessly: from the victim's initial deposit through intermediate wallets to centralized exchanges like Binance, Kraken, or OKX. The result is a detailed forensic report with a graphical representation of the entire flow of funds. This report enables law enforcement agencies to act swiftly – to lock wallets and freeze assets – without having to spend months conducting their own analysis.
There are other reasons to file a criminal complaint: Only those officially registered as victims can benefit from the potential return of seized funds. If your own account details have been misused for illegal transactions, filing a complaint early protects you from being suspected of money laundering yourself. Furthermore, any resulting damages may be tax-deductible.
Our law firm files professionally prepared criminal charges based on forensic reports and coordinates communication with law enforcement agencies.
Civil law claims: restitution and compensation for damages
Besides criminal law, civil law offers further avenues. Claims against the perpetrators themselves generally exist under Section 823 Paragraph 2 of the German Civil Code (BGB) in conjunction with Section 263 of the German Criminal Code (StGB), as well as under Section 826 of the German Civil Code (BGB) (intentional immoral harm). The practical problem is well-known: the perpetrators are often untraceable, reside abroad, or operate anonymously behind shell companies.
Therefore, the focus is increasingly shifting to other parties involved in the transaction process:
- Cryptocurrency exchanges: If funds were transferred via regulated exchanges, individuals have a right to information. In certain cases, freezing requests can be filed. Exchanges often do not respond to direct inquiries from private individuals, but they do respond to letters from lawyers.
- Banks and payment service providers: If payments were processed via traditional bank transfers or payment service providers such as PayPal, it must be examined whether these providers violated their regulatory due diligence obligations. In certain circumstances, claims for damages may be considered.
- Credit institutions: In some cases, courts have held banks liable when demonstrably fraudulent transactions were not stopped in time.
Making a blanket statement about success is neither reliable nor possible. The chances depend on the specific circumstances of each individual case: the amount of damage, the payment method used, the location of the platform involved, and the response time after the fraud. Crucially, an early and coordinated approach is essential: forensic investigations, filing criminal charges, and civil proceedings are all interconnected. With each passing week, the trail becomes less clear.
Rogert & Ulbrich examines all civil claims on a case-by-case basis – against perpetrators, stock exchanges, payment service providers and credit institutions.
When is it worth hiring a lawyer in cases of crypto fraud?
In cases of cryptocurrency fraud, legal support is advisable in almost all instances. The complexity of the issue lies in the intersection of criminal law, civil law, international jurisdictions, and blockchain technology. Those who proceed alone risk destroying evidence, missing deadlines, or exposing themselves to criminal prosecution – for example, if their own account details have been used for suspicious transactions.
Legal counsel is particularly important if damages of several thousand euros or more have occurred, if cryptocurrency exchanges or payment service providers were involved in the transaction process, if one's own name or account details were used for suspicious transfers, or if a criminal complaint is to be filed in coordination with forensic measures.
Check whether your legal expenses insurance covers the lawyer's fees. Many policies cover proceedings in the area of cybercrime or Investment fraud From now on – it's always worth contacting your insurer early.
Conclusion: Act quickly, remain realistic
Crypto fraud is a multi-billion dollar, professionally organized crime – but it's not a lawless space. Perpetrators are increasingly being identified and prosecuted. Those who act quickly, secure evidence, and involve the right specialists have realistic chances of recovery in many cases – but there are no guarantees.
Be wary of anyone who makes unrealistic promises. Anyone who promises guaranteed repayment or only works on a contingency fee basis, which they secretly collect using dubious methods, is deceiving you a second time. Reputable legal counsel operates transparently and without guarantees of success.
If you have become a victim of crypto fraud, you should act now. Get in touch and secure your claims.
