Interview
The playbook behind crypto fraud
Crypto fraud rarely matches the cliché of a dubious email. Sofie Maes investigates fraud files and describes a pattern that is patiently built over months.
In conversation with
Sofie Maes — Onderzoeker financiële fraude, een gespecialiseerd onderzoeksbureau
How does a case usually start?
Maes: 'With trust, not technology. A conversation on a chat app, a shared interest, weeks of contact. Only then comes the investment proposal, often on a polished platform that looks more professional than a real exchange.'
'Early on the victim sees real withdrawals. That is deliberate: a small payout proves it works and unlocks the next, much larger deposit.'
The fixed pattern of a case
- 01
Build contact
Weeks to months, social rather than financial
- 02
Show a small win
The first withdrawal works and builds trust
- 03
Scale up
Larger deposits, sometimes borrowed money
- 04
Block the payout
Sudden tax or deposit demanded
What can someone do in the first 48 hours?
Maes: 'Speed matters. Keep all communication, note transaction hashes and addresses, report to the police and to your bank. If the funds still sit at a licensed exchange, a timely report can sometimes freeze them.'
'Never pay an extra amount to release your money. That so-called tax or deposit is the second phase of the same fraud.'
- Keep all chats and documents
- Note transaction hashes and addresses
- File a report and inform your bank
- Never pay to unlock a withdrawal
Who is affected?
The image of the naive beginner does not hold. The files Maes sees include strikingly many people with a financial background.
What stands out in the case files
Practical observations from this firm, not representative research.
- Average duration
- 11 weeks
- Reports within 48h
- 1 in 5
- Second attempt
- 3 in 10
First contact to final deposit
The rest wait out of shame
Approached by a fake recovery service
What would help most?
Maes: 'Faster information sharing between banks, exchanges and police. Today we lose days to forms while funds move in hours.'
'And less shame. Every week I speak to people who waited months before reporting. That delay is exactly what this business model counts on.'
Najczęstsze pytania
Can I recover stolen crypto?
Sometimes, if the funds reach a licensed party and you report very quickly. In many cases recovery fails.
Are recovery services trustworthy?
Be extremely careful. Many so-called recovery services actively approach victims and are part of the fraud themselves.
Where do I report fraud in Belgium or the Netherlands?
To the police, your bank and the relevant supervisor. Also report to the platform the funds were sent to.
About the author
Amina volgt belastingregels rond crypto in Nederland en België. Ze vertaalt fiscale wetteksten naar praktische stappen voor particuliere beleggers.