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What is a cryptocurrency scam and how to act when you have been a victim of one?

In the first place, a fraud or financial swindle refers to all those cases in which the perpetrator of the crime tricks the victim into transferring money or other assets that she/he subsequently appropriates, thus causing economic damage.

Being the fraud with cryptocurrencies one of the modalities of deception to achieve this objective, in this type of financial crime it is also part of a promise of future profitability in exchange for delivering an initial capital to the alleged investor.

In the cryptocurrency scam, in most cases the alleged criminals present themselves as experts in investing with cryptocurrencies, be it bitcoin, ethereum or any other.

The type of operation they pretend to carry out is very diverse: with derivatives, cryptocurrency arbitrage, etc. and in their advertising they frequently offer exorbitant returns, even exceeding 6% per month.

If you have been the victim of a cryptocurrency scam, first of all, you must collect all the relevant documentation related to the crime: signed contracts, emails exchanged with the authors, whatsapps or other communications, screenshots in the event that the company offered periodic profitability reports, etc.

This documentation will be essential for your lawyers to prove the damage suffered in the legal process. This procedure will begin with the drafting and presentation of the complaint (in Spanish the concrete legal action and filing is called "querella") before the Investigating Court of the town where the events occurred.

If you still do not have a lawyer and have been the victim of a financial crime such as the one explained here, or any other, please complete this form: Contact | English Speaking Lawyers | Spain (

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