Crypto is often the last hop, not the whole story. The loss the bank can see is still the transfer out of the current account.
How it tends to unfold
Someone posing as a trader, a celebrity, or a recovery agent sends you to a platform. You buy crypto, or you pay a supposed exchange directly. A second scammer then offers to recover the first loss for a fee.
What to write down
- A guaranteed return
- A recovery agent who contacts you after the loss
- Instructions to lie to the bank about the payment purpose
- A wallet address sent in chat
How we frame the bank complaint
Banks sometimes say crypto is outside their hands. The complaint still looks at what they knew when the dollars left the account, and at any warning they did or did not give.
Joel’s case
Joel, in Vancouver, followed an Instagram account that used a trader’s face. A private group, he was told, was buying a coin before an announcement. He was also told not to use an exchange he already knew. He sent $3,000, then $7,500, then $14,000 from CIBC by Interac to people described as the exchange’s cashiers. The coins never appeared in a wallet he controlled.
A week later a different person called. He said he worked in recovery and wanted 15 percent up front to unlock the wallet. Joel did not pay him. That second call was another scam sitting on the first.
CIBC’s first answer was that cryptocurrency sat outside the bank’s hands. The complaint was not about the coin. It was about the dollars that left the account, the new payees, and a warning he had been told to click through. Those transfers were paid back.
If the money left your bank on the way to a wallet, the file starts with the bank transfer. The coin is the reason they gave you. It is not the whole complaint.
Client reviews
Megan T.
Victoria★★★★★
The bank said crypto was outside their hands. The dollars that left my account were still refunded.
Omar S.
Hamilton★★★★☆
I recovered the bank transfers. They also told me to hang up on a second caller who wanted a fee.
Jill A.
Saskatoon★★★★★
The part of the loss that left my bank was paid back. That was the outcome I needed.
If the review shows there is no realistic complaint, we will say so. You can still use the claim-yourself guide and go to your bank directly.
Hope is not lost
A first refusal is not the last page. Tell us the bank, the dates, and who you thought you were paying. The review is free.