Are crypto tracing reports worth it?
In a rush? Here’s a quick article summary:
Crypto tracing reports, often costing thousands, claim to help recover stolen cryptocurrency but rarely lead to successful recovery - especially in the UK. Seek trusted, realistic advice if you’ve lost money to a cryptocurrency scam.
Are crypto tracing reports worth it?
When you’ve been the victim of a cryptocurrency scam, you’re desperate for answers. You want justice. You want to know who took your money. And above all, you want your money back.
It’s in this moment of vulnerability that many companies push cryptocurrency tracing reports - often costing between £2,000 and £5,000 (or even more) - promising to “track down the bad guys” and help you recover your stolen crypto.
At Refundee, we’ve taken the ethical decision not to offer this service - even though it’s highly profitable for other firms. Why? Because after extensive investigation, we believe that these reports are hugely overpriced, misleading in their impact, and rarely help scam victims get their money back.
The Emotional Sell - And the Harsh Reality
Cryptocurrency tracing reports are marketed as a powerful weapon in the fight against crypto fraud. Victims are told they can find out exactly who stole their funds and where the money went. In reality, this is rarely the case.
Here’s what usually happens:
The report might identify which cryptocurrency exchange your stolen funds were sent to.
In some cases, it may even find a name linked to a wallet. But this is often fake, tied to a stolen identity, or linked to a money mule - someone used by the fraudsters to disguise their tracks.
Even when a name is “discovered”, it’s almost never the actual perpetrator.
The result? You’ve spent thousands of pounds on a document that might tell you where your money ended up - but not in a way that actually helps you get it back.
Why Crypto Tracing Reports Rarely Lead to Recovery
Even in the best-case scenario - where the report identifies a wallet, a name, and an exchange - there’s a fundamental problem:
Most crypto tracing reports are not produced to the quality standards required by the courts.
That means:
You cannot use them as legal evidence to compel an exchange to release funds.
They are essentially informational only, with no direct power to recover your money.
Many firms tell victims that their reports can be handed to law enforcement, who will then take action. However, we have never seen this result in recovery.
Here’s why:
UK police prosecution rates for fraud cases are less than 1%.
Even fewer cases result in actual fund recovery.
Cross-border crypto laundering makes tracking and retrieval extremely difficult.
In short - while it’s technically possible that the police might recover funds, in practice, it’s extraordinarily rare.
The Ethical Problem We See
At Refundee, we believe many crypto tracing firms are taking advantage of people at their most desperate moment.
Victims are told there’s a real chance of getting their money back if they just pay thousands more for a tracing report. But in truth, the odds of recovery are vanishingly small - and the companies selling these reports know it.
We refuse to profit from false hope. Our mission is to give scam victims realistic advice about their options - not sell them expensive services that are unlikely to achieve results.
Our Final Word
At Refundee, our role is to stand on the side of the victim - even if that means turning down a lucrative service.
Cryptocurrency tracing reports sound appealing, but the reality is they are often expensive, misleading, and rarely help you get your money back.
If you’ve been scammed, don’t let desperation push you towards spending thousands more on something that’s unlikely to help. Instead, speak to ethical professionals who will give you an honest assessment of your situation.
FAQ’s
What is a crypto tracing report?
A crypto tracing report is a document from a blockchain analysis firm that tries to show where stolen cryptocurrency went and who may be involved.
Do crypto tracing reports work?
They sometimes identify your funds movements but rarely lead to recovering stolen crypto or legal action.
Are crypto tracing reports worth the cost?
For most UK scam victims, these reports are expensive and unlikely to help recover your money.
Can police recover my stolen cryptocurrency using a tracing report?
While possible, it’s very rare in the UK due to low fraud prosecution rates and complex international laundering.
What should I do instead of buying a tracing report?
Collect all scam evidence, report the crime to Action Fraud, and get advice from trustworthy professionals without costly promises.
How can I avoid crypto scams?
Be cautious of companies that guarantee recovery, ask for large upfront fees, or pressure you to pay quickly.
