How Magefond Traced $1.2M in Stolen Crypto Across 5 Exchanges

When a UK client came to Magefond after losing $1.2M to a fraudulent crypto exchange, the trail looked cold. The funds had already been moved through several wallets, split into smaller amounts, and passed through multiple platforms designed to obscure their origin.

Our recovery team used on-chain analysis to follow the transaction graph across five separate exchanges, correlating wallet clusters with know-your-customer records where available and flagging the off-ramps most likely to be used by the fraudsters.

Working alongside the client's bank and two international exchanges, Magefond built a case file strong enough to trigger a freeze on the remaining funds while legal channels were pursued. Within four months, the client received a full recovery.

Crypto fraud is one of the fastest growing categories of case we see at Magefond, and every case is different. If you believe you have lost funds to a fraudulent exchange or wallet, the earlier you contact us, the more of the trail is still intact.