My savings gone after a fake 'liquidity mining' pool on a new DEX, can I get it back?
Okay, i'm absolutely gutted. I got messaged on Telegram by someone who seemed super friendly, we chatted for weeks about crypto. They convinced me to try 'liquidity mining' on a new decentralized exchange they linked me to, saying it was a guaranteed 1.5% daily return. I put in almost everything i had saved, like, €18,000 worth of ETH and USDC. It all looked legit, i saw the 'returns' accumulating in my dashboard. When i tried to withdraw, it asked for a 'tax payment' first, then another 'security fee'. I paid those too, using more of my savings, because i just wanted my money out. Now the site is gone, and the Telegram contact blocked me. My wallet was totally drained of what was left after i 'approved' some transaction on their site. I feel so stupid. Is there ANY way to trace this or get some of it back? I'm in Utrecht, this is my life savings.
20 Answers
Oh man, Sophie, I'm so sorry this happened to you. This is a classic 'pig butchering' variation, and unfortunately, it's one of the hardest types to recover from. The promise of high, guaranteed daily returns like 1.5% is the absolute biggest red flag. Real DeFi protocols don't offer anything close to that consistently, and definitely not without risk.
First things first: stop paying *any* fees they demand. Those are just more ways to extract money from you. The 'tax' and 'security' payments are part of the scam. When your wallet was drained after you 'approved' a transaction, you likely signed a malicious smart contract which gave them permission to take your assets. This is very common with these fake DEXes.
Recovery is extremely difficult here. The funds are usually moved quickly through mixers or multiple wallets, often across different blockchains, making tracing a nightmare. Even Chainalysis or TRM Labs, which are brilliant at tracking, can only tell you where the funds went, not necessarily get them back. Your best bet is to report it to your local police in Utrecht and any national cybercrime units (like the Fraudehelpdesk in NL). Give them all the transaction IDs, wallet addresses, screenshots of chats, and the fake DEX URL. They might not get your money back, but it's crucial for their intelligence on these groups. And ignore *any* recovery service that contacts you saying they can get your crypto back for an upfront fee – those are secondary scams targeting victims like you. Stay strong.
Ugh, Sophie, I feel this so much. Happened to me too, not with liquidity mining but a 'fixed deposit' on a platform someone from Telegram recommended. Lost about SGD 15,000. The part where they ask for 'fees' to withdraw? That's exactly what they did to me. I paid a 'tax' and then a 'withdrawal unlock fee'. Like an idiot, I just wanted my money. Never saw a cent. I reported it to the Singapore police but tbh, they said it's very hard with crypto crossing borders. It's a horrible feeling, that self-blame. But you're not stupid, these scammers are professional manipulators. Hang in there.
Sophie, I'm really sorry but you've been hit by a very sophisticated scam. The 'liquidity mining' on a new DEX, the high returns, the Telegram contact, and especially the 'tax' and 'security fees' before withdrawal – these are all textbook red flags for a pig butchering scam. The moment you approved that transaction that drained your wallet, you likely gave them unlimited access to spend your tokens. This isn't just a simple transfer; it's a contract approval gone wrong. The funds are almost certainly gone for good. Anyone promising recovery for a fee is just another scammer trying to take advantage. Don't fall for that twice.
That's awful, Sophie. €18,000 is a huge amount. I hear about these constantly. These 'new DEXes' are just elaborate phishing sites designed to look like real DeFi. They don't have actual liquidity pools; it's all fake numbers on your screen. The 'returns' are just designed to make you put in more, then the 'fees' are another layer of the scam. Once you sign a malicious contract, they've got keys to your crypto. It's a grim situation. I wouldn't hold out much hope for recovery, sadly. It's a tough lesson learned for many in crypto.
Oh nein, Sophie, this is heartbreaking. The 'liquidity mining' scam is huge right now, especially targeting people new to DeFi. The 1.5% daily return is just fantasy, a bait for the trap. The fact that the site is gone and they blocked you is basically confirmation it was a scam. The 'approvals' you did allowed them to take more control than you thought. My friend almost fell for a similar one, but luckily only put in a tiny amount before smelling a rat when they asked for a 'VIP upgrade fee'. Please, never trust anyone online who promises guaranteed huge returns, especially if they direct you to unknown platforms. I'm so sorry this happened to your savings.
Sophie, c'est terrible. This story, I've heard it too many times. The 'liquidity mining' is just a pretext. They lure you, build trust over weeks, then push you to a fake platform. The 'returns' you see are just numbers on a screen they control. When you tried to withdraw and they asked for more money ('tax', 'fees'), that's the ultimate sign. It's not a real exchange, it's just a front. And when you 'approved' transactions, you likely signed away your access. I'm really sorry to say, but the chances of getting that back are incredibly, incredibly slim. The funds are gone the moment they leave your wallet and enter theirs.
This sounds exactly like what happened to a colleague's cousin. They called it 'yield farming'. Same M.O.: met someone on Telegram, talked for ages, then a 'special' platform, huge returns, then fees for withdrawal, and finally, everything gone. The 'wallet drained' part is often from connecting your wallet to their malicious DApp, which gets approval to spend your tokens. Look, it's a hard pill to swallow, but these funds are typically moved so fast, and broken up, that tracing them back to an identifiable person or even a recoverable account is nearly impossible for law enforcement. Focus on securing your remaining digital assets, if you have any.
Oh wow Sophie, this hit me right in the feels. I lost almost 10k last year to a similar 'investment platform' that promised insane returns. It wasn't liquidity mining, but the whole setup was the same: friendly contact, fake website, 'fees' to withdraw. The shame and anger are just awful. My partner was so upset with me. I ended up just reporting it to the national police and my bank, but nothing ever came of it. It's devastating, but please don't let it consume you. These people are professional criminals. You're not alone in falling for their tricks. It teaches a hard lesson about unsolicited offers and too-good-to-be-true promises.
Sophie, I'm truly sorry to hear this. It's a horrible situation, and please don't blame yourself too harshly – these scammers are incredibly cunning. The key takeaway here, for you and for anyone reading, is that *any* platform or individual promising guaranteed high returns in crypto, especially on obscure or newly linked 'DEXes', is almost certainly a scam. Real, legitimate crypto investments always carry risk and never guarantee such high, consistent returns. The requests for 'tax' or 'security' payments to withdraw are another massive red flag. Always verify platforms independently. Report everything to local authorities; while recovery is unlikely, your report helps them build cases and intelligence against these criminal networks.
Just to echo what others have said, Sophie, this is a very common type of crypto scam, often called 'pig butchering' or 'romance scam' where the initial contact builds a relationship. The 'liquidity mining' part is just the cover story. The promise of high returns, the need to pay 'fees' to withdraw, and the eventual draining of your wallet after you grant an approval (likely unlimited spend approval for a token) are all classic signs. The money is most likely gone. Be extremely wary of anyone contacting you now, claiming they can help you 'recover' the funds, especially if they ask for an upfront fee. That's just the next scam trying to get you.
Oh man, I'm so sorry to hear this. It's a classic rug pull, and the 'tax' and 'security fee' scams are such awful added layers. They prey on the hope that you'll get your initial investment back. Unfortunately, once those funds are moved out of your direct control and into their wallets, getting them back is incredibly difficult, borderline impossible. These DEXs are often fake front-ends designed purely to steal your crypto. The transactions you 'approved' likely gave them permission to drain your wallet entirely, not just the initial deposit. Reporting is key, though. Have you filed a police report in Utrecht? And make sure to report the scam to any crypto listing sites or aggregators that might have featured this fake DEX, even if it's gone now. Sometimes these platforms can be pressured to remove listings.
This happened to me too. Not quite €18k, thank God, but still a significant chunk of my savings. It was a 'forex trading bot' scam, same Telegram contact, same promises of daily returns. I even paid a 'withdrawal fee' and then they asked for 'government tax' - like, €3,000! I was sweating. Thankfully, my wife caught me before I sent the last bit. She said, 'If it sounds too good to be true, it is.' We reported it to the local police, but they said crypto is too hard to trace. I did file a complaint with ChainAbuse though. They don't recover funds, but they track scams and warn others. It’s something, at least. Don't beat yourself up too bad, these guys are good at what they do. But be super careful on Telegram, man. It's a minefield.
Please, everyone reading this: NEVER send crypto to a platform you haven't thoroughly vetted through independent reviews and blockchain analysis. Those Telegram 'friends' are almost always scammers. 'Guaranteed returns' especially in volatile markets like crypto are a massive red flag. If you see promises of high, stable daily profits, run. The fact that they asked for *more* money to withdraw your *own* funds is the biggest giveaway. It’s a common tactic to bleed you dry. Report these scams to the CFTC if you're in the US or your country's financial regulator. Even if funds aren't recovered, reporting helps them track these criminals.
This sounds exactly like the 'Quantum DeFi' scam that was going around a few months back. Same MO: Telegram contact, fake DEX link, fake dashboard showing profits, then the 'fees' to unlock withdrawals. My buddy lost about €5k. He was devastated. He contacted some 'funds recovery' outfits online, and they all wanted upfront payment, which he wisely didn't give. Ngl, the chances of getting that €18k back are slim to none, especially if it's already been tumbled through multiple wallets. The best you can do is report it to your local police and maybe see if Binance or Kraken have any channels for reporting suspected scam operations, though they probably can't help directly with funds already gone.
Hey man, I'm really sorry this happened to you. It's a horrible feeling to have your savings disappear like that. Don't blame yourself too much – these scams are designed to look legitimate and play on people's desire for a good return. The crypto space can be a bit of a wild west, and unfortunately, there are bad actors. What you can do now is gather all the evidence you have: screenshots of the Telegram chats, the website (if you can still access it or have cached pages), transaction IDs (though they'll likely lead to empty wallets now). Reporting it to the Dutch police is a good first step. Sometimes, tracing the wallet addresses through blockchain explorers can show where the funds went, even if recovery isn't possible.
The request for 'tax' and 'security fees' is such a desperate, transparent move. It's like the scammer got cornered and just started throwing random charges at you hoping you'd keep paying. The fact you 'approved' transactions on their site is the killer here. This means you gave smart contract permission to move your funds. When they initiated their own transaction using that permission, it was like handing them the keys. Don't ever interact with unknown DEXs or DeFi protocols directly from Telegram links. Always do your own research. Check audit reports (though even those can be faked), look for community reviews on independent forums, and check if the smart contracts have been verified on a block explorer. If you sent any fiat through a bank for these fees, contact your bank immediately. Maybe there's a slim chance of a chargeback, but unlikely for crypto purchases.
This sounds like a classic phishing scam targeting crypto users. The fake DEX, the Telegram contact, the escalating fees – it's all designed to trap you. I’ve seen similar things happen with people losing money on fake NFT minting sites too. The blockchain is transparent, yes, but tracing stolen funds back to a person, especially when they use mixers or privacy coins, is incredibly difficult for law enforcement and even specialized firms. I'd be wary of any 'recovery services' promising to get your money back, especially if they ask for money upfront. Many of those are just secondary scams. Reporting to the police is good, but don't expect miracles. Maybe check if the fake DEX was ever mentioned on sites like ChainAbuse or Reddit crypto subs – sometimes community warnings can help others.
I'm so sorry this happened to you. It sounds absolutely devastating, and it's completely understandable that you feel gutted. Please be kind to yourself. These scammers are incredibly sophisticated and target people's trust and desire for financial growth. The advice given about reporting it is crucial. In the US, people report to the FBI's IC3 (Internet Crime Complaint Center). Even if they can't recover the funds, every report helps build a case against these types of operations. Sometimes, the wallet addresses that received the stolen funds might be flagged on services like Chainalysis if they're involved in other known scams. It's a long shot, but worth looking into.
Another one bites the dust. 'Guaranteed 1.5% daily' – yeah right. If it was that easy, everyone would be millionaires overnight. These fake DEXs are usually just a web interface that mimics a real platform, and when you connect your wallet and approve transactions, you're essentially giving them the keys to your funds. They drain you, then shut down the site and block you. Reporting to the police is standard procedure, but recovery rates for this type of scam are abysmal. Anyone promising guaranteed recovery, especially those associated with 'Funds Recovery Group' or 'Wealth Recovery International,' are likely scams themselves. Stick to reputable exchanges like Binance or Kraken for actual trading.
Ugh, this is rough. The Telegram contact fishing for info and then pushing you towards a shady DEX? Textbook. And the 'tax' or 'fee' to withdraw? That's the oldest trick in the book for exit scams. Did you ever check the smart contract for that DEX? Most legitimate new projects have them audited or at least published on Etherscan/BscScan. If it was a brand new, unaudited contract or one that looked overly complex with admin controls, that's a huge red flag. Sadly, once the crypto is gone and moved through mixers, it's practically invisible. Don't fall for recovery services that charge upfront fees – they are almost always scams themselves. Your best bet is reporting it to the Dutch authorities and hoping for some collective action.

