If you've lost Bitcoin to a scam or sent Bitcoin to the wrong person, you may be contacted by someone claiming they can recover your funds.
Be extremely cautious.
Scammers sometimes target people who have already lost money and promise to recover their Bitcoin in exchange for an upfront payment or sensitive wallet information. This is sometimes called a recovery scam.
⚠️ How Recovery Scams Work
A fake recovery service may claim to be a blockchain investigator, recovery specialist, law firm, government representative, or cybersecurity company.
They may tell you they have located your Bitcoin and can recover it if you first pay a fee, tax, deposit, or other charge.
After you pay, they may demand additional payments or disappear entirely.
A professional-looking website, report, social media profile, or supposed case number does not by itself prove that a recovery service is legitimate.
🚩 Warning Signs of a Recovery Scam
Be especially suspicious of anyone who guarantees they can recover your Bitcoin or contacts you unexpectedly after you've been scammed.
Never provide someone with your seed phrase, recovery phrase, private keys, password, or 2FA codes. You should also never provide remote access to your phone or computer to someone claiming they need it to recover your Bitcoin.
Another major warning sign is being asked to send Bitcoin or cryptocurrency upfront before your funds can supposedly be "released" or "recovered."
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🔐 Never Share Your Seed Phrase
Your seed phrase provides access to your Bitcoin wallet.
1Bitcoin.ca support will never ask you for your seed phrase or private keys.
Anyone who obtains this information may be able to access and transfer the Bitcoin in your wallet.
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❓ Can Someone Recover Lost or Stolen Bitcoin?
Bitcoin transactions are generally irreversible once confirmed.
There is no standard Bitcoin chargeback or cancellation process, and nobody can guarantee that lost or stolen Bitcoin will be recovered.
In some fraud investigations, law enforcement, financial institutions, or other appropriate authorities may investigate or attempt to trace funds. However, tracing a transaction does not guarantee that the Bitcoin can be returned.
Be especially cautious of anyone claiming otherwise.
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🚨 What Should I Do If I've Already Been Scammed?
Stop communicating with the scammer and do not send additional money, even if they claim another payment is required to recover your original funds.
If banking information or a bank payment was involved, contact your financial institution's fraud department as soon as possible.
If you shared account credentials, change the affected passwords and secure your accounts. If you shared your seed phrase or private keys, consider the wallet compromised and seek appropriate wallet-security assistance before using it again.
Keep records of what happened, including transaction IDs (TXIDs), wallet addresses, emails, messages, names used by the scammer, and payment information. These details may be useful when reporting the incident.
You may also wish to report suspected fraud to the appropriate Canadian fraud-reporting authorities and your local police service.
📞 Someone Says They Can Recover My Bitcoin
Do not send money or provide sensitive information simply because someone claims they have located your funds.
If someone says they represent 1Bitcoin.ca and you're unsure whether the communication is legitimate, stop communicating with them and contact us directly through the official 1Bitcoin.ca support channels.
💬 Need Help?
If you're unsure whether someone claiming to recover your Bitcoin is legitimate, contact 1Bitcoin.ca support before sending money or providing information.
Request a live agent through support or email [email protected].
Our team can help you determine whether a communication claiming to be from 1Bitcoin.ca is legitimate, but we cannot guarantee the recovery of Bitcoin sent to a scammer.