Elderly Parent Scammed Out of Crypto: What to Do Today

Elderly parent scammed out of crypto? Today you help them stop every payment, call their bank together, tell the kiosk operator or exchange, save the evidence and file a report. Getting the money back can be hard (see why crypto transactions cannot be reversed), so what you can still change is what happens next.

Expect a second call: a stranger who offers to get the money back can be another scam aimed at the same person.

What to do today, step by step

Do these with your parent beside you, not for them. It is their money and their accounts.

1. Stop contact and any payment in progress

   Ask your parent to stop replying and to stop any payment that is still under way, such as cash they were told to withdraw or a transfer they were told to make. The FTC says (opens in a new tab) real businesses and government agencies will never tell anyone to use a Bitcoin ATM, buy gift cards or move money to protect it, and anyone who asks is a scammer.

   If the money went to an online "investment" contact instead of a kiosk, read how those scams work too.

2. Call their bank or card issuer together

   Ask your parent to put the call on speaker, or sit beside them, and tell the bank what happened. Tell the bank right away (opens in a new tab), especially if money moved out of the account. Ask what the bank can do and write down the name of the person and the time of the call.

   Your parent should be the one speaking to the bank, because the account is theirs. What you can and cannot do on their accounts explains the limits.

3. Contact the kiosk operator or the exchange

   For a Bitcoin ATM, use the number on the machine or on the receipt, never one the caller gave. For an exchange, open its app or type its web address yourself and contact support from inside. Do not take a support number from a search result.

   Tell them it was a fraudulent transaction and ask them to reverse it and refund the money. That is a request, and they can say no. If the receipt and the machine show no number, write down the machine's location and report anyway. The refund details are in what a Bitcoin ATM refund depends on, and the full order for a kiosk loss is in if you already paid at a Bitcoin ATM.

4. Secure any account the scammer saw

   If your parent gave out a password, change it on that account and anywhere it was reused, then turn on two-factor authentication. For an exchange account, follow what to do if someone got in.

5. Save the evidence

   Gather the kiosk receipt, any QR code or wallet address the caller supplied, the phone call log, and every text and message. Do not delete the chats. The full list is in evidence to save before you report.

6. Report it together

   Ask your parent whether they want to report, and file with them. Use the US hotline or, for any country, the reporting routes. Keep any reference number with the evidence.

Talk without blame when your mom got scammed

The FTC says (opens in a new tab) callers who send people to a Bitcoin ATM scare them into keeping it secret, even from their closest loved ones. So a parent may be slow to tell you.

The FTC advises (opens in a new tab) answering with kindness and concern instead of criticism or disappointment. It also says the only person at fault is the scammer. Try these:

• Say "This can happen to anyone, and you did the right thing by telling me."
• Let them tell the story in their own order, and ask what they would like to do next.
• Avoid "How could you..." and "I told you so."

End with one family rule: no payment to a crypto ATM, gift card or "safe account" without first calling a named relative.

What you can and cannot do on their accounts

The account holder makes the calls and gives consent. In the US, the CFPB describes (opens in a new tab) a family member who only helps review bills: the holder still signs, and no one else is authorized to make account transactions. The holder can set up more, such as a convenience account or a power of attorney (a legal document that lets another person handle someone's affairs).

If your parent lives in England or Wales, GOV.UK explains (opens in a new tab) the lasting power of attorney, a legal document that lets someone appoint attorneys to make decisions for them. It is binding only in England and Wales. Choosing one is your parent's decision, and how to apply is on the GOV.UK page.

Elder-fraud help in the United States

As of October 2026, the National Elder Fraud Hotline (opens in a new tab), created by the US Department of Justice's Office for Victims of Crime, is a free resource for reporting fraud against anyone aged 60 or older. The number is 833-FRAUD-11 (833-372-8311), open Monday to Friday, 10 a.m. to 6 p.m. US eastern time, except some holidays, with English, Spanish and other languages. The hotline's FAQ says (opens in a new tab) a relative can call too.

Case managers help with reporting to the relevant agencies and with referrals, which can include the FTC, IC3, Adult Protective Services and state or local channels. They do not investigate, and the hotline cannot guarantee money back.

If someone calls claiming to be hotline staff, see the Stop box on recovery offers.

The FBI's IC3 counted (opens in a new tab), for 2025, 6,188 kiosk-related complaints from people aged 60 and over, with about $257 million in reported losses. To file with the FTC or IC3, use the reporting routes.

If you live outside the United States

The US has a federal elder-fraud hotline. For other countries, report through your country's general fraud routes in where to report a crypto scam. If your parent lives in England or Wales, the lasting power of attorney is covered in what you can and cannot do on their accounts. Otherwise, check your own country's financial regulator.

The second scam: recovery offers and repeat calls

As of October 2026, the FBI's IC3 2025 report (opens in a new tab) counts 2,529 recovery-scam complaints from people aged 60 and over, with about $540.5 million in reported losses. Those losses may also include the earlier scams that led to the contact, so part of that total may be the first loss. These are complaints to a US agency.

The FTC says (opens in a new tab) scammers buy, sell and trade lists of people who have paid, expecting them to be good targets again. That is why someone offering "recovery" help may call again.

IC3 says (opens in a new tab) it does not work with law firms or crypto services to recover lost funds, and will never directly contact you for information or money. To check a firm that has already made an offer, use check a recovery firm or lawyer before you pay.

Example: a parent scammed at a Bitcoin ATM, then a recovery call (made-up)

This example is invented, with round numbers and no real operator or coin price.

• Day 0: a caller claims to be a bank "fraud team" and tells Mom to withdraw $3,000 in cash and put it into a kiosk. She does, and tells no one.
• Day 2: you find out. She stops replying, and the two of you call the bank on the number on her statement, then the kiosk operator on the number from the receipt. She tells the bank what happened and asks the kiosk operator to reverse the payment.
• Day 2: you save the receipt and messages, and file a report together.
• Day 9: a "recovery agent" says a $500 fee will get the $3,000 back. Mom remembers the family rule, hangs up and calls you.

The loss stays at $3,000 instead of $3,500 because the second payment never happened. The amounts are made up, and the same sums work in any currency.

Protect elderly parents' money from the next attempt

As of October 2026, set these up only with your parent's agreement:

• Ask the bank which transaction alerts it offers on their accounts.
• In the US, some banks may offer a "trusted contact person" on brokerage accounts. The CFPB says (opens in a new tab) the contact gets notified if the institution sees signs of financial exploitation, and has no access to the money.
• Turn on call blocking. The FTC says (opens in a new tab) call blocking and labeling are the best defense against unwanted calls. Many cell phones can block specific numbers, and phone providers may offer blocking services, though blocking can catch calls you want.
• Share the FTC's alert, Did someone send you to a Bitcoin ATM? It's a scam (opens in a new tab).
• Pick a regular time to talk, such as a weekly call, and ask how things are going.

Risks to understand

You could lose all the money your parent paid, even with reports filed. Setting up access to their accounts is their choice. Apply the family rule to calls you get yourself.

Next, read how to spot crypto scams together.