At the end of 2020, Russia’s Ministry of Internal Affairs reported that the number of crypto frauds and other crimes involving virtual currencies as the target of criminal acts has been growing annually by 400% in Russia. The reason cited was the unclear legal status of cryptocurrencies, difficulties in tracking, and the inability to classify crypto as civil property.
The most common ways to lose cryptocurrency
As the crypto market grows, so do hacker threats. Groups linked to North Korea (like Lazarus, APT3, BlueNoroff) are causing increasing damage to blockchain projects and users. Phishing, fake YouTube streams with figures like “Elon Musk” promising to double investments, and fake exchange or wallet websites are common methods criminals use to steal crypto.
Precedents
One high-profile case: Thodex exchange in Turkey. Losses totaled $24 million. In Russia, the first criminal case of misappropriating exchange funds led to the arrest of a suspect with over 190 million rubles in cash.
My cryptocurrency was stolen. How can I recover it?
- First, protect remaining funds (move assets to secure wallets).
- Document everything (screenshots of chats, websites, wallet addresses).
- Use blockchain explorers to trace transactions.
- Contact the exchange if funds hit a centralized platform — request a freeze.
- File a police report (can be done online in Russia) with detailed info.
- Consider hiring lawyers, especially if funds reached foreign jurisdictions.
Note: Investigation and court proceedings don’t guarantee the return of your crypto, but they increase your chances.
Conclusions
Most of the work to recover stolen funds falls on the victim. To improve your chances, contact professionals — analytical firms and legal experts who can help build evidence and handle documentation properly.
