The US Federal Bureau of Investigation (FBI) has issued a public service announcement for victims of crypto scams looking for legal advice to recover their funds.

In a Wednesday notice, the FBI said that fictitious law firms were targeting individuals who had previously been scammed out of some or all of their crypto holdings, putting them at additional risk. According to the bureau, the scammers’ actions left victims at risk of compromising their personal data and other funds.

The announcement, based on an update for similar warnings from the FBI in August 2023 and June 2024, cautioned people against accepting assistance from anyone recommending a “crypto recovery law firm” or any law firm “requesting payment in cryptocurrency or prepaid gift cards.” 

“Be cautious of law firms contacting you unexpectedly, especially if you have not reported the crime to any law enforcement or civil protection agencies,” the notice reads.

According to data from blockchain security company CertiK, there was about $2.5 billion in crypto lost due to hacks, exploits and scams in the first half of 2025. Though in some cases exchanges or companies are able to recover user funds, many of those targeted are left to their own devices to seek solutions.

Related: Vietnam police bust billion-dollar crypto Ponzi ring behind Paynet Coin scam: Report

Seized crypto to bolster US stockpile?

As one of the US law enforcement agencies, the FBI often takes the lead on cases involving crypto-related scams, seizures, and fraud. According to US Treasury Secretary Scott Bessent, any digital assets seized by authorities would go toward the national crypto or Bitcoin (BTC) stockpile after any victims were compensated.

In April, the Dallas FBI seized $2.4 million BTC allegedly associated with a member of a hacking group. Federal officials filed a lawsuit in July seeking a claim on the funds.

Among some of the more alarming crimes affecting crypto holders has been criminals kidnapping people or members of their family in an attempt to steal their digital assets or ask for a ransom. SatoshiLabs founder Alena Vranova estimated that at least one Bitcoiner somewhere in the world was targeted every week.

Magazine: Philippines blocks big crypto exchanges, Coinbase scammer’s stash: Asia Express