What should I do during or after a scam?
In the wake of a scam, uncertainty can set in. Discover essential information about recognizing and dealing with scams in our comprehensive guide, offering clear guidance for navigating these challenging situations. Learn more on how you can spot scams here.
What should I do during or after a scam?
When users encounter scams in the cryptocurrency industry, they should consider taking the following steps:
Stop sending any further payments: don't let the scammer convince you to send more to "recover" your losses — this is a common tactic.
Secure your OKX account: if you shared your OKX login credentials or clicked a suspicious link, change your password and 2FA settings right away.
Save conversation records: immediately download and save the chat logs with the (suspected) scammer as a TXT file. These records may become crucial parts of subsequent investigations and evidence. Relevant platforms may include WhatsApp, Telegram, Wechat, Line, Facebook, Instagram and etc.
Screenshot key information: capture crucial transfer information, including the scammer's address, transfer screenshots, the scammer's false claims, and other scam website information. Ensure that the screenshots are clear and include timestamps and transaction details.
Report to local enforcement: report the incident to local police or law enforcement agencies and provide as much detailed information as possible, including the time, location, and amount involved, as well as the chat records, screenshots of transfers, and other evidence you collected.
Provide feedback to platform customer service: if the (suspected) scam occurs on a cryptocurrency exchange platform, immediately contact customer service. Please also include a screenshot showing where the scam address was obtained. This will help us take prompt action to protect other users and resolve the issue.
You can now report scams directly on our platform, via both app and web.
On the app: head to Menu > Profile & Settings > Security > Community safety > Report scam or suspicious activity
Example of where you can report the scam on the app
On the web: go to Security → Community Safety → Report scam or suspicious activity.
Example of where you can report the scam on the web
Or you can easily reach out to our customer service via our Help bot on the Support center page.
Trace asset flows on the blockchain: attempt to trace the flow of assets using blockchain explorers and other tools to understand where the funds went after the transfer. This may require some technical knowledge or professional assistance, but it can help determine whether the funds are still retrievable or have been laundered.
Note: crypto transactions are irreversible once confirmed on the blockchain. OKX can't reverse completed transactions. Acting quickly to report the scam gives you the best chance of limiting further losses.
What are the common scam tactics and how do I identify?
Find out the common scam tactics in this article.
What else do I need to do to trade safely?
Stay alert: Be cautious of claims such as 'high returns' or 'inside information', and always verify information through official channels.
Protect your privacy: Never share your recovery phrase, private keys, or SMS verification codes with anyone.
Learn more with additional educational resources located here. Find out how you can avoid modern cryptocurrency scams and how to report them so you can protect yourself and others from falling victim.