Parent Scammed in Crypto? How to Help and Who to Call

If you think a parent or older relative is being scammed, or has already lost money in crypto, what you do in the next few days matters. This guide covers how to raise it without pushing them away, how to stop more money leaving, and who to report it to.

Signs your parent may be caught in a crypto scam

Large or unusual cash withdrawals, or crypto ATM receipts around the house.
Secretive phone calls, or a caller who insists they stay on the line.
A new online friend or partner who talks about investing.
Talk of “protecting” money from hackers, the bank or a government investigation.
A new crypto or trading app someone told them to install, or couriers collecting cash.

More warning signs: crypto scams targeting older adults.

How to talk to them about it

Lead with concern, not blame. These scams are run by professionals who coach victims on what to say to family and bank staff.
Expect them not to believe it at first. Through Operation Level Up, the FBI says most of the people it contacted didn’t know they were being scammed.
Let others say it too. Hearing it from their bank, a hotline or police can help. The FTC’s Pass It On materials can help you start the conversation.
Agree on one simple rule: no large transfer, withdrawal or crypto purchase without talking to a trusted person first.

Stop more money leaving

Call the bank together. Ask about recalling recent transfers and flagging the account. The CFPB notes your loved one may be able to set up alerts for every transaction, or whenever the balance falls below a set amount.
Brokerage accounts: your parent can name a trusted contact person, someone the firm can reach about possible financial exploitation. It doesn’t give that person access to the account. For customers 65 and older (and some younger adults with impairments), FINRA Rule 2165 lets firms temporarily hold disbursements when they reasonably believe financial exploitation has occurred, is happening or is being attempted.
Crypto ATMs: call the operator on the number on the machine or receipt. Some states require refunds for certain new customers who report quickly: see Bitcoin ATM refund laws by state.
Cut off the scammer: help them stop contact, block numbers and accounts, and remove any remote-access software a “technician” installed.

Report it

FBI: file at ic3.gov. IC3 lets you file on behalf of another person. See how to report to IC3.
FTC: reportfraud.ftc.gov. Local police: a report number helps with banks, exchanges and ATM operators.
National Elder Fraud Hotline: 1-833-372-8311 (1-833-FRAUD-11), for people 60 and older (DOJ).
Adult Protective Services: find your state’s office through NAPSA, or call the Eldercare Locator at 1-800-677-1116. According to the Administration for Community Living, its operators refer callers to a local agency that can help.
If anyone is in immediate danger, call 911.

Protect them from the next scam

Warn them about recovery scams. People who have lost money are targeted again by fake lawyers, “recovery agents” and fake FBI agents promising to get it back for a fee. See crypto recovery scams.
Plan ahead for money decisions. The CFPB’s Managing Someone Else’s Money guides explain powers of attorney, trustees and guardianship. For legal authority over a parent’s finances, talk to an elder-law attorney.

Helping a parent after a crypto scam: common questions

Can I stop my parent from sending money to a scammer?

Usually not on your own. Legal tools such as a power of attorney or guardianship may help, and an elder-law attorney can explain the options. Meanwhile, you can call the bank with them, set up alerts, help them name you as a trusted contact with their brokerage, and report the scam. If you believe they can no longer protect themselves, contact Adult Protective Services and an elder-law attorney.

Can I report the scam to the FBI for my parent?

Yes. IC3 says you may file on behalf of another person you believe has been affected. Include every wallet address, transaction ID, amount and date, and the scammer’s phone numbers, usernames and websites.

Should I report it to Adult Protective Services?

If your parent is being financially exploited and you’re worried they can’t protect themselves, yes. APS investigates reported cases of elder and vulnerable-adult abuse and can arrange protective services. Find your state’s office through NAPSA.

What is a trusted contact person?

Someone your parent authorizes their brokerage firm to contact in limited situations, such as possible financial exploitation. Naming one doesn’t give that person any authority to see balances or make transactions.

My parent is embarrassed and won’t talk about it. What can I do?

Keep the door open and avoid blame. Remind them that professionals run these scams and that reporting helps protect others. The AARP Fraud Watch Network Helpline (877-908-3360) offers guidance and support to victims and families.

Request a case review

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 on September 29, 2026. Laws, agency guidance, company policies and contact details change, so please verify the current information with the original source before you act.