Skip to content
Education only · not financial, tax or legal adviceCanadian facts checked 2026-10-31 · a MITEY site
Menu
Printable checklist · 10 items

Scam response checklist: the first hours

What to do right after a crypto scam or wallet drain in Canada: secure what is left, preserve evidence, report to the CAFC and police, alert platforms and avoid recovery scams.

Mitey the yeti talking a plan through with an older yeti, with a lifebuoy
Mitey says: Breathe. Then secure what’s left before anything else.

Speed matters, but so does order. First protect what remains, then preserve evidence, then report. Expect follow-up contact from people offering to recover your funds for a fee: that is a known second scam.

0/10

5 critical items still open. Stop until they are done.

Questions people ask

Can stolen crypto be recovered?

Sometimes, if funds reach a platform that can freeze them quickly, which is why reporting fast and telling platforms matters. Often it cannot be recovered. Be wary of anyone promising recovery for a fee.

Who do I report a crypto scam to in Canada?

The Canadian Anti-Fraud Centre and your local police, plus any platform involved and, for investment offers, your provincial securities regulator.

Is my loss tax-deductible?

CRA has not published guidance specific to crypto theft or scam losses as of 2026-10-30. Keep your police report and records, and ask a tax professional.

Sources and dates

  • Report fraud and cybercrime — Canadian Anti-Fraud Centrereference
    No date shown on page · checked 2026-10-31. How Canadians report fraud and cybercrime, including crypto scams.
  • Investment scams — Canadian Anti-Fraud Centrereference
    No date shown on page · checked 2026-10-31. Warning signs of investment and crypto investment scams.
  • Are they registered? (National Registration Search) — Canadian Securities Administratorsreference
    Page date 2026-01-13 · checked 2026-10-30. Check registration, disciplinary history and investor alerts.

Education only. Nothing on this page is financial, investment, tax or legal advice, or a recommendation to buy, sell, stake, lend or borrow any crypto-asset. Crypto-assets can lose some or all of their value and are not covered by CDIC. Canadian rules change: check the dated sources above and talk to a qualified professional about your situation. Full disclaimer.