What happened to the client
A client contacted LastResorty after losing approximately $232,000 through a fraudulent cryptocurrency investment scheme. The client had been introduced to the platform through fake online advertising using famous personalities (such as Elon Musk, the Prime Minister of Canada and several well-known businesspeople) and was subsequently contacted by individuals claiming to be experienced crypto traders.
The platform displayed an increasing account balance, encouraging further deposits. However, when the client requested a withdrawal, access to the account was restricted and additional payments were demanded.
Realising something was wrong, the client began looking for help understanding where the cryptocurrency had gone and whether any action could be taken.
Our work on this file, step by step
Collecting the evidence
LastResorty began by collecting the available wallet addresses, transaction hashes, exchange records, and communications relating to the platform.
Blockchain analysis
Where sufficient information was available, blockchain analysis was used to examine the recorded transactions and identify relevant wallet movements. These findings helped establish an evidence-based transaction history that could support further enquiries.
Assessing recovery routes
The case was then assessed for potential recovery routes, including whether any identifiable funds or transactions involved services that could be contacted through appropriate legal or financial channels. The client was also advised to preserve relevant evidence and report the suspected fraud to the appropriate authorities.
The fraudsters used sophisticated techniques to hide the source of the funds, including cross-chain swaps and offshore accounts, which made tracing the full amount very difficult. Despite these challenges, we contacted the offshore banks we had traced, and with the help of LastResorty's associates, about half of the amount — roughly $120,000 — was returned from these offshore accounts.
- Lost
- $232,000
- Returned to client
- $120,000
Past results do not guarantee future outcomes. Every case is different.
What other victims can learn from it
Blockchain analysis can help establish where recorded cryptocurrency transactions went, but tracing funds does not automatically make them recoverable. This case illustrates the importance of combining technical investigation with realistic expectations and appropriate recovery procedures.
