The Expert Podcast

Can you ever get your money back from an online scam? The most common type of online scam right now is the so-called Pig Butchering scams. We've talked about this a lot before in other videos, so we won’t get into the details of how they work, but we do want to discuss how to possibly get your money back. Here’s an example: NPR reported how a victim got their entire loss of $140,000 returned to them.

The question is, how would you feel if all your money was stolen, and you never expected to get it back—and then you did? One victim described it as feeling amazing, being overjoyed, and in shock. Hundreds of thousands of dollars in cryptocurrency were seized from a fraudulent operation. This is a big deal because scammers often create fake investment companies. As you might already know, they reach out to potential investors, promising huge profits on their investments.

They start out small, asking for a few hundred or a few thousand dollars. Then, they gradually raise the stakes until you have thousands, tens of thousands, or even hundreds of thousands of dollars invested. They show you fake return statements, making it look like you’ve made substantial profits. Eventually, when you try to withdraw your money, you discover it’s all a scam.

Now, this playbook has been infiltrated by investigators, government agencies, the SEC, and fraud recovery companies. These groups investigate, identify the scammers, seize assets, and return funds to victims in many cases. Often, recovery efforts involve third parties—companies that weren’t directly part of the scam but enabled it. For example, it could be a bank or an accountant that allowed the fraudsters to operate. Investigators often target these third parties to recover assets.

The takeaway here is that there is hope if you are a victim of a fraud scheme. Many victims have gotten their money back. More and more cases are emerging where scammers are caught, and funds are recovered. Even if the scammers don’t have all the money, it can sometimes be recovered from third parties.

Don’t despair if you’ve lost money, and don’t take it personally. It’s not your fault—you didn’t do anything stupid. These scammers are experts at manipulating their victims. They know exactly how to structure their messages to make you hand over money, even against your better judgment. It’s like a Jedi mind trick.

If you’ve lost money, explore your options for asset recovery and investigation. It may take time, but making the effort can reduce your losses. If you found this information helpful, check out other videos on our channel. You might discover additional advice or resources related to your situation or other topics that could help you resolve your issue.