When you've been scammed, the promise of "asset recovery services" can seem like a lifeline. But the harsh reality is that only 5-15% of stolen funds are ever recovered, according to the FBI. This guide separates fact from fiction about recovering lost money.
How Legitimate Recovery Works
For Traditional Banking Fraud
Wire transfers: Possible recall within 72 hours
Unauthorized transactions: Banks may reverse if reported quickly
Checks: Can sometimes be stopped before clearing
For Cryptocurrency Scams
Exchange-based theft: 20-30% recovery chance if reported immediately
Blockchain transactions: Near-zero recovery for decentralized transfers
The 3 Types of Recovery Services
Law Enforcement-Assisted
Works with FBI, Interpol, Europol
Free but slow (6-24 months)
Best for cases over $100,000
Private Forensic Firms
Charge 150−500/hour
Specialize in blockchain tracing
Require strong evidence
Legal Recovery
File civil lawsuits
Needs identifiable defendant
Costs $10,000+ in legal fees
Red Flags of Recovery Scams
🚨 "Guaranteed" recovery (no such thing exists)
🚨 Upfront fees demanded (legit firms work on contingency)
🚨 Unsolicited contact (real firms don't cold-call victims)
🚨 Pressure to act immediately
🚨 Requests for sensitive information
When Recovery Might Be Possible
Scenario | Recovery Chance | Timeframe | Cost |
---|---|---|---|
Bank transfer <72 hrs | 60-80% | Days | Free |
Crypto on exchange | 20-30% | Weeks | $3K+ |
Romance scam | <5% | Months | $5K+ |
Recovered wallet | 0% | N/A | N/A |
Practical Steps to Take Now
Free Options First
File IC3 report (FBI)
Contact bank's fraud department
Report to relevant exchange
Document Everything
Transaction IDs
Communication logs
Bank statements
Consider Professional Help If
Loss exceeds $50,000
Scammer's identity is known
Funds went through regulated entity
The Hard Truth About Recovery
Most crypto is gone forever if sent to private wallets
Law enforcement prioritizes large ($1M+) cases
Recovery scammers outnumber legitimate services 10:1
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