What to Do in the First 24 Hours After Your Crypto Was Stolen

If your cryptocurrency has been stolen, the first 24 hours are critical. These early steps can help minimize damage, preserve evidence, and set the stage for possible recovery. With the rise in exchange hacks, phishing scams, and SIM swap attacks, crypto theft is becoming an all-too-common experience for everyday investors. Knowing how to respond quickly—and carefully—can improve your chances of protecting what’s left and potentially tracing your funds.

If you’ve experienced losses due to cryptocurrency theft on a trading platform, explore your legal options—our team at Meyer Wilson Werning can talk you through the steps of your case and help those who have been wronged. Reach out today to discuss your next steps with us.

Immediate Actions to Take After Crypto Theft

Speed and precision matter when responding to a cryptocurrency theft. The more quickly you act, the better your chances of limiting losses and preserving valuable evidence.

Secure Your Digital Accounts

After discovering theft, your first step should be to lock down your digital presence. Hackers often exploit multiple points of access, so securing all of them is essential.

• Change passwords for all exchange accounts, wallets, and linked emails. Use new, strong, and unique credentials.
• Enable two-factor authentication (2FA), preferably using an authenticator app rather than SMS-based 2FA, which can be vulnerable to SIM swap attacks.
• Contact your mobile carrier and request a PIN or additional security layer to prevent unauthorized changes to your phone number.

Notify the Crypto Exchange

If the theft occurred through an exchange account, report it immediately. Most exchanges have formal reporting protocols, and acting fast may help freeze the remaining funds or trigger an internal investigation.

• Submit a detailed support ticket via the exchange’s official website.
• Include relevant transaction IDs, wallet addresses, timestamps, and a summary of the incident.
• Ask the platform to temporarily freeze your account to prevent additional activity.

Documentation and Forensics: Building Your Case

While recovering stolen cryptocurrency is difficult, clear documentation can make or break your chances if you pursue legal action or forensic tracing.

Create a Thorough Paper Trail

Documenting every aspect of the theft builds a timeline of what occurred and preserves key evidence.

• Take screenshots of suspicious activity and transactions.
• Save all correspondence with the exchange or wallet provider.
• Track wallet addresses involved in the theft, if known.

Compile this data into a secure, password-protected folder. This file will be useful for law enforcement, private investigators, or attorneys during any recovery efforts.

Consider Cybersecurity and Blockchain Forensics

If you’re unsure how the theft happened, a professional investigation may be helpful. Cybersecurity firms can analyze your devices for malware or phishing vulnerabilities, while blockchain forensic companies may trace where your stolen crypto went.

• Private cybersecurity audits can reveal how the breach occurred.
• Blockchain tracing firms use transaction data to follow stolen funds—but results are not guaranteed.

These services can be costly and are not always successful, so they’re typically most helpful in high-value theft cases.

Reporting and Exploring Legal Recovery

Reporting your loss is an important step—not only for recovery but also for helping authorities track criminal activity in the crypto space.

Reporting to Authorities and Watchdogs

You should report the theft to federal and consumer protection agencies that specialize in financial fraud.

• SEC Investor Complaints: Investors can file complaints through the SEC’s Investor Complaint Form.
• FBI Internet Crime Center (IC3): Victims of online theft can submit reports at ic3.gov.
• CFPB: File financial service complaints through the Consumer Financial Protection Bureau.

These reports won’t always lead to individual recoveries, but they contribute to investigations and pattern recognition across the crypto ecosystem.

Legal Avenues for Recovery

Depending on the specifics of your case, legal recovery may be possible—particularly if a broker, exchange, or financial advisor failed to secure your assets or misrepresented the risk.

• Victims may pursue claims through arbitration or litigation if an advisor or exchange was negligent.
• Legal professionals can evaluate your documentation and determine whether recovery is feasible.

How Meyer Wilson Werning Helps Victims of Crypto Theft

At Meyer Wilson Werning, we represent investors who’ve lost assets due to theft, scams, or mishandling of cryptocurrency accounts. If you’ve taken the initial steps to secure your accounts and document the incident but still need help understanding your legal options, our team is here to support you.

We work with victims of digital asset fraud to evaluate potential recovery strategies, whether through legal claims, arbitration, or broader fraud investigations. Our goal is to help you regain control and determine the most effective path forward. Contact us today, and let’s explore how we can work together to find a path forward that feels right for you.

Frequently Asked Questions

What should I do immediately after discovering my crypto has been stolen?

Change all passwords, enable two-factor authentication (2FA), and secure your linked email and mobile accounts. Then notify your crypto exchange with all relevant transaction details and request a freeze on your account.

Can stolen cryptocurrency be traced?

Yes, in some cases. Blockchain forensic firms can track the movement of stolen funds through public ledgers, though success varies depending on how the assets were moved or laundered.

Should I report the theft to government agencies?

Yes. You can report crypto theft to the FBI’s Internet Crime Center (IC3), the SEC, and the CFPB. These reports may support broader investigations, even if they don’t result in immediate recovery.

Is legal recovery possible if an exchange or advisor was involved?

It may be. If an exchange or advisor failed to protect your assets or misrepresented risk, you may have grounds to pursue recovery through legal channels like arbitration or litigation.

How can Meyer Wilson Werning help after crypto theft?

We assist victims of digital asset fraud by assessing potential legal claims, guiding clients through the documentation process, and helping pursue recovery when financial professionals or platforms are at fault.