What to Do if Money Was Stolen From a Hacked Crypto Account

If money was stolen from your hacked crypto account, you’ll want to freeze all of your accounts and take a few other steps to protect yourself from further financial harm. In addition, you may also want to consult an investment fraud lawyer. 

Here’s a closer look at what you should do if money is stolen from your hacked crypto account and how a lawyer can help you pursue justice.

Change Your Passwords if Money Was Stolen From Your Hacked Crypto Account

If money was stolen from your hacked crypto account, you should change your passwords and enable app–based two–factor authentication (2FA) on all your crypto and financial accounts. Since other accounts may be linked to your hacked account, it’s important to take the same measures on them to avoid further damage. 

Taking these actions will ideally stop the hacker from accessing additional accounts and taking more money. However, you shouldn’t stop here. There are several other actions you should take to document this incident and alert relevant authorities.

Contact the Crypto Platform’s Support Team

When your money is stolen from a hacked crypto account, you need to report it to the crypto platform’s support team. To do so, go to the official website or app of the crypto platform and submit a report or complaint. 

Let the support team know your account was hacked and include the specific amount of funds stolen. You’ll also want to ask the support team to freeze your account and provide you with logs of your recent activity. 

Ideally, the team will send you information on IP addresses that have accessed your account, login attempts, and withdrawal addresses. Acting fast can ensure you get the support and information you need to protect yourself and remedy the situation.

Check for Signs of SIM Swapping

After a crypto hack that resulted in stolen funds, you should check for signs of SIM swapping. Hackers use this method to transfer your mobile number to a SIM card they possess, effectively allowing them to take control of your phone number.

If your phone suddenly lost service prior to the hack, it’s possible a SIM swap attack played a role. If you believe that a SIM swap took place, take the following steps:

• Call your mobile carrier to regain control of your number.
• Ask for a SIM swap lock to stop hackers from taking control of your number again.
• Ask your mobile carrier for documentation of the incident.

Notify the Police and Other Authorities

Getting money stolen from your hacked crypto account is a serious matter that should be reported to the authorities. First, you’ll want to report the incident to your local police department. They can get the ball rolling on an investigation and generate paperwork that will document the hack.

Next, you should file a complaint with the FBI’s Internet Crime Complaint Center (IC3). Make sure to include the following details in your complaint to the IC3:

• The name of the cryptocurrency exchange 
• Your crypto account information
• The dates and times when unauthorized transactions occurred
• The amount of funds that were stolen from your hacked crypto account
• Any evidence you have of SIM swapping

Filing these reports will kickstart investigations and generate documentation that can be used if you end up taking legal action against the hacker. Once you’ve reported the incident to relevant authorities, consider reaching out to an investment fraud lawyer for further advice.

Speak to an Investment Fraud Lawyer

An investment fraud lawyer may only be able to help you pursue compensation and can take the following steps to get financial remedies for you:

• Investigate your losses and gather important evidence.
• Collect and analyze transaction records, investment contracts, communication records, and other pieces of information that may be used to provide liability.
• Use evidence to build a strong claim for compensation.
• Advocate on your behalf during the arbitration process
• Fight to get the compensation you need to replace your cryptocurrency losses.
• Offer further advice on what to do if money is stolen from your hacked crypto account.

Schedule a Free Consultation With an Experienced Attorney

At Meyer Wilson Werning, we’ve helped thousands of clients recover from financial advisor fraud and misconduct. Our team has won over $350 million in damages for our clients and brings the power of 75-plus combined years of legal experience to your case. 

With our team on your side, you’ll have an excellent chance at getting the compensation and justice you deserve. Contact us today to schedule a free consultation with a lawyer and learn more about your legal options moving forward. 

We’ll meet with you to discuss your losses, explain what you should do if your money is stolen from a hacked crypto account, and determine if you have grounds for a claim against a financial advisor or brokerage firm.