How to Report Cryptocurrency Fraud: Essential Structure, Evidence, and Wording Guidelines

If you find yourself a victim of crypto fraud, it’s crucial to act swiftly: gather evidence, document transactions, and report the information to exchange officials or the police. Grigory Osipov, the Head of Investigations at «Shard,» explains how to prepare a complaint that can trigger an investigation and help recover your assets.

When stolen funds are transferred to centralized exchanges, there is an opportunity to block them. These platforms are required to verify users according to KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations — they collect client information and may suspend suspicious transactions in certain cases.

If you discover that your funds ended up on a specific exchange, reach out to their support team as quickly as possible—via email, chat, or a dedicated form.

It’s important to note that most exchanges operate in English, so it’s advisable to draft your message in that language.

The quality of your complaint significantly affects both its potential for consideration and the efficiency of the investigation.

Prepare a brief yet informative summary of the incident:

If you are a citizen of Russia, you can download a standard police report template from the official website of the Ministry of Internal Affairs or through «Gosuslugi.» You can file the complaint electronically via «Gosuslugi» or by visiting the local police station in person.

What else should be included in your complaint

Details about the incident:

Transaction information:

You can gather this information from blockchain explorers like Etherscan, Blockchain.com, and Tronscan.

Completeness and accuracy in your complaint increase the chances of a swift response from the crypto exchange or law enforcement. The more detailed your information, the higher the likelihood of blocking assets before they are withdrawn. You can carry out data collection on your own or assign it to specialists in crypto investigations.

What wording in the complaint could harm your case

When addressing law enforcement, it’s vital to use precise, legally accurate, and emotionally neutral language. Poorly drafted statements can not only hinder the investigation but may also work against the complainant.

Why screenshots are insufficient

Many victims limit themselves to providing screenshots of conversations with alleged fraudsters. A screenshot is merely an image. It lacks IP addresses, metadata, digital signatures, and other data that would validate its authenticity. Additionally, screenshots can easily be forged using graphic editing tools.

Therefore, in addition to screenshots, it is advisable to include the following information in your report to law enforcement authorities:

Complaints to law enforcement or a cryptocurrency exchange can be submitted either directly by the victim or through an authorized representative. These two options differ in content, legal standing, and perceptions among law enforcement personnel.

Reports from private individuals often contain emotionally charged language, unclear articulations of facts, and lack properly formatted evidence — from transaction records to technical data. This complicates verification and diminishes the chances of case initiation.

A complaint prepared by a lawyer, potentially with the assistance of a specialist in cryptocurrency investigations, is typically well-structured, references specific laws, and includes an appendix of relevant documentation, applicable screenshots, and technical analyses.

Moreover, professional complaints often come with requests for investigations, monitoring of response timelines, and opportunities to appeal any inaction by officials.

The technical aspect is also crucial: a cryptocurrency expert can accurately document and present transaction information from the blockchain in the form of a correctly formatted expert conclusion, which is vital during investigations into crypto-related incidents. For instance, analyzing the paths of digital funds, identifying associated addresses, and verifying data from public sources can provide authorities with a clearer and more accurate understanding of what transpired.

A well-crafted complaint is a powerful tool for protecting yourself. It documents the fraudulent act, preserves the possibility of asset blocking, and helps avoid potential legal and tax implications.

Even if the loss seems unrecoverable, properly compiled evidence and precise wording can enhance your chances of an investigation and hold the perpetrators accountable. Additionally, every complaint contributes to a database that helps shape policies against crypto fraud.

Collect data, present it neatly, and report to the police in a timely manner. Don’t hesitate to involve professionals — the more precise your complaint, the greater the likelihood it will be taken seriously.