Everything you need to know about reporting cryptocurrency fraud through the UK’s official channels, including the newly launched Report Fraud service, the Financial Conduct Authority, and what legal steps you may wish to take in parallel.
In this guide
- The scale of cryptocurrency fraud in the UK
- Report Fraud: the replacement for Action Fraud
- What to gather before making your report
- How to submit your report step by step
- What happens after you report
- Reporting to the Financial Conduct Authority
- Notifying your bank immediately
- Reporting fraud in Scotland
- Other bodies worth notifying
- Common types of cryptocurrency fraud in the UK
- Why specialist legal advice matters
The Scale of Cryptocurrency Fraud in the UK
Cryptocurrency fraud has become one of the most prevalent and financially devastating forms of fraud affecting individuals, businesses, and institutional investors across the United Kingdom. According to data cited by the City of London Police, crypto featured in 66% of all reports received in 2024 by Action Fraud relating to investment fraud, a 16% increase on the previous year. Against this backdrop, the UK Home Office published its Fraud Strategy 2026 to 2029, formally classifying cryptocurrency as a growing fraud risk and committing to enhanced enforcement capabilities across the National Crime Agency, the Serious Fraud Office, and the Financial Conduct Authority.
If you have been a victim of cryptocurrency fraud, acting swiftly is essential. The blockchain is immutable, meaning that whilst transactions cannot be reversed, prompt reporting can assist in tracing funds, freezing assets held at regulated exchanges, and identifying the perpetrators. This guide sets out the correct reporting channels available to you, in plain terms, so that you may take those steps without delay.
“The UK Fraud Strategy 2026–2029 formally classifies cryptocurrency as a growing consumer risk, reflecting the scale of losses now being sustained by victims across England, Wales, Scotland, and Northern Ireland.”
Important notice
Reporting to the authorities is a critical first step, but it is rarely sufficient on its own to secure the return of funds. You should consider obtaining specialist legal advice in parallel with making any official report. Crypto Legal does not offer no-win no-fee arrangements or litigation services, but we are able to advise on the full range of civil, regulatory, and pre-litigation options available to you.
Primary Reporting Channel
Report Fraud: The Replacement for Action Fraud
From 4 December 2025, the long-criticised Action Fraud service was replaced by a new national reporting platform operated by the City of London Police, known as Report Fraud. Anyone previously directed to the Action Fraud website will now be automatically redirected to the new service. The change applies across England, Wales, and Northern Ireland. Those in Scotland should refer to the separate section of this guide below.
Report Fraud operates as the single national gateway for members of the public and businesses to report fraud and financially motivated cybercrime. The service was designed specifically to address the shortcomings of its predecessor, which a 2022 Justice Committee report described as a “black hole” for victim reports. The new platform is built on a system called the National Crime Analysis Service, which enables all police forces to access higher-quality intelligence derived from incoming reports.
Report Fraud contact details
Website: https://www.reportfraud.police.uk
Telephone: 0300 123 2040 (available 24 hours a day, 7 days a week)
If calling from abroad: +44 300 123 2040
Relay UK users (for those who cannot hear or speak on the phone): 18001 then 0300 123 2040.
Unlike its predecessor, Report Fraud has been designed from the outset with an analytical capability that allows the National Fraud Intelligence Bureau (NFIB) to identify patterns across thousands of reports and generate intelligence packages for targeted law enforcement action. This is particularly significant in cryptocurrency fraud cases, where individual losses may be smaller, but perpetrators typically victimise hundreds or thousands of individuals through the same mechanism.
Upon submitting a report, you will receive a crime reference number. Retain this carefully. It will be necessary if you wish to make a complaint to your bank, pursue any form of civil action, or engage with a specialist legal team regarding your matter.
Before You Report
What to Gather Before Making Your Report
The quality and completeness of the information you provide will directly affect how useful your report is to investigators. Before visiting reportfraud.police.uk or calling 0300 123 2040, we recommend compiling the following information in writing.
Transaction records
Wallet addresses, transaction hashes (TXIDs), dates, amounts, and the names of any exchanges involved in sending or receiving funds.
Communications
All emails, WhatsApp or Telegram messages, social media posts, and any promotional materials received from the fraudster.
Website details
URLs of any websites used, including investment platforms, login portals, or promotional pages. Take screenshots and note the dates accessed.
Contact information
Phone numbers, email addresses, social media profiles, and any other identifiers for the individuals involved.
Financial records
Bank statements, payment receipts, and records of any fiat currency transferred, including amounts in GBP and the equivalent cryptocurrency values.
A chronology
A clear, date-ordered account of how the fraud unfolded, from first contact through to discovery of the loss.
Legal note
Do not delete any communications, accounts, or records, even if instructed to do so by another party. Preservation of evidence is critical to any subsequent civil or regulatory action. If you are advised by someone claiming to assist you to destroy evidence, treat this as a significant red flag.
Step-by-Step Process
How to Submit Your Report Through Report Fraud
The following steps describe the process for submitting a report online via the Report Fraud platform. You may also complete the same process by telephone if you prefer, or if the online form is inaccessible to you.
1 Visit the Report Fraud website
Navigate to https://www.reportfraud.police.uk using a secure device and internet connection. If you previously used actionfraud.police.uk, you will be redirected automatically. Alternatively, call 0300 123 2040.
2 Create an account or proceed as a guest
You will be given the option to register an account, which allows you to track and update your report over time, or to report without registering. We recommend creating an account where possible, as this gives you a permanent record and allows you to add further information as it becomes available.
3 Select the fraud category
Choose the category that best describes your experience. For cryptocurrency-related matters, this will typically be investment fraud, online fraud, or advance fee fraud, depending on the nature of the scheme. If you are uncertain, the platform provides guidance at each stage. Do not be overly concerned about precision here; your narrative will clarify the nature of the fraud.
4 Provide the details of the fraud
Complete each section as fully as possible. Include the wallet addresses, transaction IDs, website URLs, and a clear chronological account of events. The more detail you can provide, the greater the likelihood that the NFIB will be able to identify patterns and link your report to others involving the same perpetrators.
5 Submit your personal details
You will be asked to provide your name, contact details, and address. You may also opt into having your details passed to Victim Support, a national charity offering free and confidential practical and emotional assistance to those affected by crime.
6 Receive your crime reference number
Upon submission, you will receive a crime reference number. Record this immediately in a safe place. You will need it for any subsequent bank complaints, civil proceedings, or correspondence with legal advisers, including ourselves.
Telephone reporting
If you prefer to report by telephone, call 0300 123 2040. Lines are open 24 hours a day, seven days a week. Live web chat assistance is also available on the website during staffed hours if you encounter difficulty completing the form.
After You Report
What Happens After You Submit Your Report
It is important to understand what a Report Fraud submission does and does not guarantee. Your report will be passed to the National Fraud Intelligence Bureau, which is operated by the City of London Police in its capacity as the National Lead Force for fraud. The NFIB does not investigate individual reports in isolation. Instead, it analyses intelligence across the totality of reports received and constructs intelligence packages that may be referred to local police forces, the National Crime Agency, or other law enforcement bodies for investigation.
In practical terms, this means that the act of reporting alone rarely results in the direct recovery of funds. It does, however, fulfil an important function: it contributes to a national intelligence picture, may assist in the prosecution of perpetrators, and demonstrates that you have taken the steps expected of a victim who wishes to preserve all available remedies.
Be alert to recovery fraud
A disturbing trend has emerged in which fraudsters contact prior victims, often posing as police officers, FCA representatives, or recovery specialists, and claim to be able to assist in recovering lost funds. This is itself a fraud. The Financial Conduct Authority has confirmed that almost 5,000 fake FCA scam reports were received in the first half of 2025 alone, with one of the most common methods being impersonation of FCA officials. Do not transfer any further funds on the promise of recovery assistance, and report any such approach to Report Fraud immediately.
You should also be aware that, in some cases, police forces or other agencies may contact you for further information following your report. Cooperate fully with any such contact, and verify independently that any person claiming to contact you on behalf of law enforcement is genuine before providing further details.
Regulatory Reporting
Reporting to the Financial Conduct Authority
In addition to reporting through Report Fraud, victims of cryptocurrency investment fraud should in many cases also report the matter to the Financial Conduct Authority. The FCA is the financial services regulator for the United Kingdom and has played an increasingly active role in cryptocurrency regulation since the introduction of the financial promotions regime in 2023. Under that framework, firms offering crypto products in the UK are required to be registered with or authorised by the FCA, or to have an authorised firm approve their communications.
If the entity that defrauded you was presenting itself as a regulated investment firm, or if it was operating in a manner that suggests it required FCA authorisation, a report to the FCA is appropriate. Equally, if you receive any communication from a person claiming to be from the FCA and soliciting funds or personal details, this should be reported to the regulator directly.
FCA contact details
Report a scam or unauthorised firm: https://www.fca.org.uk/consumers/report-scam-unauthorised-firm
ScamSmart — check if a firm is authorised: https://www.fca.org.uk/scamsmart
Financial Services Register: https://register.fca.org.uk
Consumer helpline: 0800 111 6768
Before engaging with any firm offering cryptocurrency investment products, we strongly recommend verifying its status on the Financial Services Register at https://register.fca.org.uk. Search for the firm by name or firm reference number, verify the activities for which it is authorised, and ensure that the contact details you have been given match those recorded by the FCA. A firm that does not appear on the register is almost certainly not authorised to offer crypto products in the UK.
Regulatory note
Reporting to the FCA does not constitute a claim for compensation. Most crypto activities remain outside the scope of the Financial Services Compensation Scheme and the Financial Ombudsman Service. However, your report may assist the FCA in taking enforcement action against firms operating in breach of the rules, and it creates a regulatory record that may be relevant to any subsequent legal proceedings.
Immediate Action
Notifying Your Bank Without Delay
If any part of the fraud involved a transfer of funds from a UK bank account, whether to purchase cryptocurrency that was subsequently lost, or as a direct transfer to a fraudster, you should notify your bank as a matter of urgency. Under the Authorised Push Payment fraud reimbursement rules that came into force in October 2024, payment service providers are obliged to reimburse victims of certain types of authorised push payment fraud. The rules were strengthened during 2024, and whilst crypto transactions involve additional complexity, the fiat currency leg of the transaction may fall within the scope of protection.
Contact your bank’s fraud team directly, not through a general customer service line. Provide your crime reference number from Report Fraud when you do so. The bank may be able to act swiftly to contact the recipient institution and, in some cases, to claw back or freeze funds that have not yet been dissipated.
Action steps for your bank
Call your bank’s dedicated fraud line immediately. Do not use a number provided by any third party, look up the correct number on the back of your bank card or through the bank’s official website. Provide them with your crime reference number, the dates and amounts of any transfers, and ask them to raise a dispute and escalate to their financial crime team.
Reporting Cryptocurrency Fraud in Scotland
The Report Fraud service covers England, Wales, and Northern Ireland only. Individuals affected by cryptocurrency fraud in Scotland should report the matter to Police Scotland directly, using the 101 non-emergency number, or to Advice Direct Scotland, which offers a dedicated consumer advice and fraud reporting service.
Scotland reporting contacts
Police Scotland: Call 101 (non-emergency) or visit https://www.scotland.police.uk
Advice Direct Scotland: 0808 164 6000 or visit https://consumeradvice.scot
In all cases of immediate danger or ongoing criminal activity, call 999.
Scottish victims should also report to the FCA and notify their bank in the same manner as described in the preceding sections of this guide. The regulatory and banking channels operate on a UK-wide basis regardless of the national jurisdiction of the victim.
Additional Reporting
Other Bodies Worth Notifying
Depending on the nature of the fraud, there are several additional bodies that may have jurisdiction or interest in your matter. Reporting to multiple agencies increases the probability of enforcement action and ensures a comprehensive record of your complaint.
The National Crime Agency
The NCA leads on serious and organised fraud, including large-scale cryptocurrency investment fraud. For matters involving significant sums or organised criminal networks, the NCA may be directly engaged. You may contact the NCA’s Cyber Crime Unit via https://www.nationalcrimeagency.gov.uk/contact-us. The NFIB will in many cases refer appropriate matters to the NCA without requiring a separate report, but where the scale of the fraud is substantial, it is worth drawing it to the NCA’s attention directly.
Companies House
If the fraudulent firm presented itself as a UK-registered limited company, you may report it to the Insolvency Service via Companies House. This can result in investigation and dissolution of fraudulent corporate vehicles. Reports may be submitted at https://www.gov.uk/complain-about-a-limited-company.
Citizens Advice
Citizens Advice provides free, independent guidance on reporting scams and can assist in directing you to the correct agencies. Their scam reporting guidance is available at https://www.citizensadvice.org.uk/consumer/scams/reporting-a-scam.
Know the Threats
Common Types of Cryptocurrency Fraud in the UK
Understanding the mechanism by which you were defrauded assists in preparing a more effective report and in identifying the most appropriate legal and regulatory response. The following are the most frequently reported forms of cryptocurrency fraud in the UK.
Investment platform fraud
Victims are directed to professional-looking investment platforms, often promoted via social media using celebrity endorsements or deepfake videos, where they are invited to invest in cryptocurrency. The platform uses software to display fictitious returns, encouraging the victim to invest larger sums. When the victim attempts to withdraw, they are told they must first pay a fee, tax, or compliance charge. The platform subsequently disappears. This is the most prevalent form of crypto fraud in the UK and accounted for the majority of losses reported in 2024.
Pig butchering (SHA ZHU PAN)
A sophisticated long-form fraud in which the perpetrator, typically operating from an overseas criminal organisation, builds a relationship of trust with the victim over weeks or months, often presenting as a romantic interest or business contact. Once trust is established, the victim is gradually introduced to a cryptocurrency investment opportunity. Funds are invested and returns appear to grow convincingly. At the point at which the victim has committed maximum capital, the platform is withdrawn and all contact ceases. The FCA has specifically identified this as a significant trend affecting UK consumers.
Recovery fraud
As noted above, victims of prior crypto fraud are targeted by criminals posing as recovery specialists, law enforcement, or regulatory officials. Victims are persuaded to pay fees or provide sensitive information in exchange for the supposed return of previously stolen funds. This constitutes a secondary fraud compounding the original loss.
Impersonation and cold calling
Fraudsters contact victims by telephone or online, impersonating employees of well-known financial institutions, cryptocurrency exchanges, or regulatory bodies, claiming that the victim’s assets are at risk and must be transferred immediately to a “safe” wallet. This wallet is, of course, controlled by the fraudster.
Rug pulls and fraudulent token launches
Developers create and heavily promote a new cryptocurrency token, attracting significant investment before withdrawing the liquidity pool and abandoning the project. Victims are left holding worthless tokens. These schemes have become increasingly common on decentralised exchanges and are difficult to prosecute due to their pseudonymous nature and cross-jurisdictional character.
Why Specialist Legal and Forensic Advice Matters
The intersection of cryptocurrency technology, financial regulation, and English civil law is a highly specialist field. General practitioners, however able, are unlikely to be familiar with the blockchain analytics tools, injunction frameworks, cross-border exchange cooperation protocols, or the emerging case law on cryptocurrency as property that are essential to an effective response to crypto fraud. Obtaining guidance from lawyers and forensic investigators who work exclusively in this area is not a luxury; it is a practical necessity.
At Crypto Legal, our lawyers and forensic investigators advise individuals, companies, and institutional investors on the full range of legal issues arising from cryptocurrency fraud and digital asset disputes. We trace assets, advise on the preservation of evidence, and guide clients through the regulatory and civil mechanisms available to them.
If you have been a victim of cryptocurrency fraud or if you have questions about any aspect of this guide, our team is available to assist. We offer clear, expert advice from specialists exclusively in blockchain and cryptocurrency matters. Whether you are at the reporting stage or considering more substantive legal options, you can contact us at info@cryptolegal.co.uk