Government and Bank Impersonation Scams Demanding Crypto

How government and bank impersonation scams work

Scammers call, text, or email claiming to be a government agency, law enforcement, or your bank's fraud department, often with spoofed caller ID. They say your identity was used in a crime, your account was hacked, or you missed jury duty. To 'protect' your money or avoid arrest, they tell you to withdraw cash, buy crypto, deposit cash into a crypto ATM, or hand cash or gold to a courier. They often keep you on the phone and tell you not to talk to family or bank staff. Real agencies never demand payment this way.

Warning signs of an impersonation scam

An unexpected call or message from someone claiming to be the FBI, police, Social Security, the FTC, or your bank.
Claims you are linked to money laundering, drug trafficking, or an arrest warrant.
Instructions to move money to a 'safe' account, a 'government wallet', or a 'federal safety locker'.
Demands for payment in crypto, at a crypto ATM, by gift card, wire, or cash courier.
Pressure to stay on the phone or keep the call secret from family and your bank.
Being coached on what to tell the bank teller about a large withdrawal.
Video calls with 'officials' that may use AI-generated faces or voices.
Official-looking letters, badges, or documents sent by email or text.

How to avoid impersonation scams

Hang up and call the agency or bank yourself using a number from its official website or your card.
Remember that no government agency will ever ask you to pay in crypto or at a crypto ATM.
Never withdraw cash or buy crypto because an unexpected caller told you to.
Agree on a family rule: talk to someone you trust before moving large sums.
Use call-blocking tools and do not trust caller ID.
Check website addresses carefully; scammers use near-copies of real government domains.

Paid someone posing as an agency or your bank? What to do now

Stop contact and stop paying. Do not return calls to the numbers the scammers used.
Preserve evidence before anything disappears: screenshots of chats, profiles, websites and app screens, plus receipts, emails, and a written timeline. Do not delete conversations or the app. Keep crypto ATM receipts and any QR codes you were sent.
Call your bank and the crypto ATM operator or exchange immediately to request a recall or freeze.
Report it to the FBI at ic3.gov and to the FTC at reportfraud.ftc.gov, even if the amount is small. Include wallet addresses, transaction IDs (hashes), amounts, dates, and every website, app, username, and phone number involved. See /guidance/report-crypto-theft-fbi-ic3.
Adults 60 and older can call the DOJ National Elder Fraud Hotline at 1-833-372-8311.
Watch for recovery scams. Anyone who contacts you offering to get your crypto back for an upfront fee, or who claims to work with the FBI or IC3, is likely a scammer. IC3 says it will never ask for payment to recover lost funds or refer you to a company that does. See /guidance/can-stolen-crypto-be-traced.

Government and bank impersonation: common questions

Would the IRS, FBI, Social Security or my bank ever ask me to pay in crypto?

No. No government agency or bank will ask you to pay in crypto, at a crypto ATM, with gift cards or by handing cash to a courier. The FTC says that when it comes to paying with a Bitcoin ATM, real businesses and government agencies will never do that: “anyone who does is a scammer.”

They told me to move my money to a “safe account” or “government wallet” to protect it. Is that real?

No. There is no such thing as a government “safe account”, “federal safety locker” or government crypto wallet for your savings. Money moved there goes straight to the scammer.

The caller ID showed a real agency or bank number. Doesn’t that prove it’s them?

No. Caller ID can be faked. Hang up and call the agency or bank yourself using a number from its official website or the back of your card.

I already paid. Can I get the money back?

Call your bank and the crypto ATM operator or exchange immediately and ask for a recall or freeze. Some states require crypto ATM operators to refund certain new customers who report quickly: see Bitcoin ATM refund laws by state. Report it to the FBI at ic3.gov and the FTC, and keep every receipt and QR code.

Impersonation scam statistics

IC3 received 5,955 government impersonation complaints with a cryptocurrency connection, with $281,146,737 in reported losses, in 2025. (source)
From January 2025 through July 2026, IC3 received nearly 61,000 complaints about law enforcement and government impersonation, with $1.6 billion in losses (all payment methods). (source)
The FTC reported people lost $920 million to government impersonators and nearly $1 billion to bank impersonators in 2025 (all payment methods). (source)

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This guide is general information, not legal or financial advice. ChainWatch is not a law firm and does not guarantee fund recovery.

Sources

The information on this page was checked against the sources listed in September 2026. Laws, agency guidance, company policies and contact details change, so please verify the current information with the original source before you act.