Key takeaways

• Chainabuse allows anyone to publicly share information with enforcement, helping make crypto fraud more transparent, but it’s not a confidential legal channel. 

• Scamwatch helps raise public awareness about crypto scams in Australia and gathers reports to support national anti-scam efforts, but it does not investigate or take enforcement action. Even if funds can’t be recovered, reporting a Bitcoin scam can prevent someone else from falling into the same trap.

• Staying vigilant, avoiding suspicious links or promises of guaranteed returns and double-checking addresses can help protect your crypto.

It begins with an apparently innocent message, like a friend offering a crypto opportunity or an internet stranger guaranteeing big Bitcoin (BTC) profits. Before you realize it, the person on the other end vanishes, and your money, cryptocurrency or fiat, is gone. Unfortunately, as cryptocurrency frauds become increasingly complex and omnipresent, incidents like this are becoming all too usual.

Even though recovering stolen money can often be tricky, there is something you can do: Report the scam. By sharing your story, other people can be protected from falling into the same trap, and platforms like Chainabuse and Scamwatch help facilitate this process.

This article explores how to detect and report Bitcoin scams and use trusted tools to protect yourself and others.

What are Chainabuse and Scamwatch?

When reporting crypto scams, knowing where to report is as important as what to report. Two tools that can help you report crypto fraud are Chainabuse and Scamwatch, each offering different but valuable ways to take action.

Chainabuse is a global reporting platform designed to fight crypto scams at scale. It allows anyone to report malicious crypto activity, from fake Bitcoin wallet addresses to phishing sites. Reports are public, helping protect others and alerting top crypto organizations in real time. 

Additionally, users can access general guidance on how to stay safe and report the incident to law enforcement, based on similar reports submitted to the platform. Chainabuse also connects related reports, helping expose larger scams and supporting investigations. 

Scamwatch is operated by the Australian Competition and Consumer Commission (ACCC) to collect scam reports, share warnings and help disrupt fraud. When you report a scam, your information helps identify the most harmful scams affecting Australians.

Scamwatch may share data trends and insights with law enforcement and other government agencies to support broader investigations, but individual reports are not automatically escalated or acted upon. Its website, social media accounts and tools such as the Little Book of Scams provide helpful guidance on identifying, avoiding and recovering from scams. Scamwatch helps protect Australians from fraud both online and offline by collaborating with companies, governmental organizations and the general public.

Both platforms aim to empower users, raise awareness and support broader efforts to fight crypto-related fraud.

Did you know? In 2024, the FBI’s Internet Crime Complaint Center (IC3) received over 140,000 complaints involving cryptocurrency scams, totaling $9.3 billion in losses. Older adults over 60 were the most impacted, filing about 33,000 complaints and losing approximately $2.8 billion. The numbers highlight how crucial scam awareness and reporting have become, especially for protecting vulnerable communities.

How to use Chainabuse and Scamwatch to report a Bitcoin scammer

Reporting a cryptocurrency scammer is easier than it sounds, especially with platforms like Chainabuse and Scamwatch.

Before you begin, gather as many details as possible. This includes what happened, how you were contacted, the scammer’s wallet address, etc. The more context you provide, the easier it is for investigators, platforms and other users to spot patterns.

Reporting Bitcoin scammers on Chainabuse

To report a Bitcoin scam on Chainabuse, visit Chainabuse.com and click “Report Your Case.” You’ll be asked to choose a scam category from a dropdown list. Then, describe what happened in detail. Try to stick to facts while leaving out personal information. If you can, upload any screenshots or documents that support your case. 

Chainabuse encourages users to include technical data like:

• The scammer’s blockchain address and the chain it belongs to.

• Any URLs or domain names used in the scam.

• The amount of money lost or demanded, in USD.

• Transaction hashes linked to the incident.

• Details such as the scammer’s IP address, token ID or contact info.

To find a scammer’s blockchain address, check your wallet’s transaction history and look for the address to which you sent funds. On Etherscan or similar explorers, the transaction will also include a hash (TxID).

It’s possible to choose whether to post your report publicly or submit it privately. Public reports help warn others, while private ones are shared only with Chainabuse’s law enforcement partners. Either way, your personal details remain confidential.

Reporting Bitcoin scammer on Scamwatch 

If you’re in Australia or the scam involves an Australian entity, head to Scamwatch.gov.au and click “Report a Scam.” The form will prompt you to provide:

• The type of scam and when it occurred.

• How the scammer contacted you.

• A description of the event 

• Whether the scammer impersonated a known institution or individual.

• Any contact details, websites or addresses they used.

Expect to be asked if the scammer took money, personal information, or cryptocurrency. It’s also possible to aAttach any screenshots or documentation to support your claim.

Once complete, review your information and hit submit. While Scamwatch doesn’t investigate individual reports, your input contributes to broader scam monitoring and prevention.

What happens after you report a Bitcoin scam?

After reporting a scam, you may be curious about what comes next. By making your report searchable and publicly accessible, Chainabuse helps others identify shady wallet addresses or fake websites. Also, crypto exchanges, compliance teams and cryptocurrency companies can use the information to detect or freeze assets linked to fraudulent conduct.

After using Scamwatch, your report is added to a nationwide database that the ACCC monitors. Although Scamwatch does not look into specific cases or provide refunds, your information is used to inform the public and assist government initiatives in finding major scammers.

It’s essential to keep in mind that while reporting fraud does not guarantee that your money will be returned, it does significantly reduce the likelihood of scams in the future. The more people disclose these cases, the more efficient the crypto industry protects its community against fraud.

Did you know? Some scammers recycle the same wallet addresses across dozens of schemes. That’s why Chainabuse’s public reports are so powerful. They help link separate scam reports to the same bad actors, uncovering larger fraud networks hiding in plain sight.

Alternatives to reporting a Bitcoin scammer

Although Scamwatch and Chainabuse are two practical resources for reporting cryptocurrency fraud, there are other Bitcoin scam reporting sites. 

For instance, scams involving digital assets can be reported to the Internet Crime Complaint Center (IC3) and the US Federal Trade Commission (FTC). Action Fraud serves a similar purpose in the UK. Reporting the scam to multiple platforms can boost visibility and improve the chances that authorities or relevant organizations will take action.

Tips to avoid Bitcoin scams in the future

The crypto space moves fast, and so do scammers. Whether you’re new to Bitcoin or an experienced user, staying alert is essential. 

Here are some of the top tips to help you protect yourself:

• Never trust guaranteed returns. No one can promise you profits in crypto; if it sounds too good to be true, it’s probably a scam.

• Double-check wallet addresses. Always verify the recipient address before sending Bitcoin. Even one wrong character can send your funds to a scammer.

• Beware of impersonators. Scammers often pretend to be from customer support, influencers or even crypto companies. Always confirm through official websites or verified channels.

• Avoid clicking suspicious links. Phishing websites may look real, but they are designed to steal your private keys or trick you into connecting your wallet.

• Use public tools. Before interacting with a wallet or project, search it on platforms like Chainabuse to see if others have reported suspicious activity.

Even with all these precautions, it’s essential to acknowledge that scams can happen to anyone. It’s natural to feel ashamed, angry or sad afterward, and many victims stay silent. But scammers rely on that silence. They count on people being too embarrassed to speak up, which allows them to continue targeting others. Talking about what happened and reporting it breaks the cycle and turns a painful experience into a powerful way to protect the next person.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.