Bitcoin transactions cannot be reversed. That protects honest users from chargeback fraud, but it also means scammers want you to send it quickly.
The scale
The FBI's IC3 report for 2025 counted 181,565 crypto-related complaints with $11.4 billion in reported losses in the US alone. Investment fraud was the largest category, about $7.2 billion. People over 60 lost about $4.4 billion.
Common tricks
- Fake investment platforms: a new online "friend" or romance shows you big profits on a website you don't control. Withdrawals never work. The FBI says many are run by organized groups in Southeast Asia.
- Fake support / phishing: messages asking for your seed phrase.
- Giveaways: "send 1, get 2 back." Never true.
- Recovery scams: after a loss, someone offers to get your money back for a fee.
Simple rules
- Never share your seed phrase.
- Guaranteed returns are a red flag.
- Pressure to act fast is a red flag.
- Keep coins in your own wallet, not on a site a stranger recommended.
Takeaway
Bitcoin itself was not hacked in these cases; people were tricked. Knowledge is the best defense.