What to do if your crypto broker disappears
If an online crypto broker suddenly cuts communication and closes your account, stop sending any further money and preserve all records of your transactions immediately. Report the incident to Action Fraud and your bank, then gather transaction hashes to map where your deposits were actually sent.
- This fraud occurs when an unregulated online broker encourages you to deposit cryptocurrency onto a proprietary portal, displays fabricated investment growth on a dashboard, and then deletes the platform or blocks your access entirely.
- Warning signs include aggressive communication via private messaging apps, pressure to deposit larger sums before receiving earlier returns, lack of registration on the Financial Conduct Authority register, and domain names registered only weeks earlier.
- Cut off all contact with the individual who managed your account, reject any claims that a separate payment will reopen access, and immediately instruct your bank to monitor or freeze accounts used to fund the initial purchases.
- Save full chat exports, phone numbers, website addresses, email threads, bank transfer receipts, and the exact outbound transaction hashes and destination wallet addresses from the platform where you first acquired the cryptocurrency.
- File an official fraud report with Action Fraud to receive a crime reference number, notify the compliance team of the exchange you used to buy the crypto, and alert your bank's specialist fraud division regarding any fiat transfers.
- An onchain forensic analysis can map the subsequent movement of your assets to pinpoint whether funds reached an exchange with identity verification, but it cannot reveal an anonymous individual's real-world identity or automatically freeze the funds.
Read next
Written by the Wallsec investigations team. General information only, not legal or financial advice.
Need a case reviewed?
Tell us what happened and we will say honestly whether the onchain data supports a trace.