The number of people falling victim to scams involving supposedly legitimate cryptocurrency investment platforms continues to grow. These schemes often begin with a small initial deposit, usually around €250 or a similar amount, after which the platform starts showing apparent profits. At this stage, the user may even be allowed to withdraw a small portion of those gains. Once trust has been established, the person is encouraged to make larger investments.
When the investor attempts to withdraw the accumulated profits, they are asked to make an advance payment of taxes in the United Kingdom in order to “release” the funds. At first glance, this may seem reasonable, as the platform claims to be registered in the UK and is designed to mimic the appearance of a legitimate foreign company, complete with charts and data that imitate real investment activity.
In most cases, the scammers send documents that appear authentic, including logos, seals and signatures that seem to belong to HMRC—the UK tax authority—to make the process look official. They may also provide documents suggesting they are registered with Companies House.
Although the explanation may sound convincing to someone unfamiliar with cryptoassets or international tax rules, these taxes are entirely fictitious and are part of a sophisticated scam. Users are often pressured to make the supposed payment and threatened with blocked or lost funds if they refuse. In such situations, the safest option is to consult a cryptocurrency legal expert who can verify whether the platform is acting legitimately.
In every case, this is a scam. Even if the victim pays the so-called tax, the funds will not be released. Instead, a new request will appear, often justified by another fabricated reason, such as a platform commission or a change in the cryptoasset’s value.
There are also situations where the victim receives a small amount of money in their bank account. However, that payment may originate from another victim. In such cases, the individual is not only dealing with fraud but may also become unintentionally involved in money laundering, potentially facing legal consequences for negligent participation.
It is important to highlight that in legitimate crypto transactions, taxes are never paid in this way. They are not paid through private platforms or transferred to third-party accounts claiming to act on behalf of a foreign tax authority. Despite the terminology sometimes used in the crypto world, tax rules follow the same principle as any other asset: you pay tax according to your tax residence.
Therefore, if you are a tax resident in Spain and generate income or gains in this country, you must declare your crypto operations to the Spanish Tax Agency in the relevant fiscal year. Taxes are never paid in advance and certainly not to unlock funds.
If any of this sounds familiar and you have invested in a platform operating in this way, it is highly likely that you are dealing with a scam. At Navas&Cusi Abogados, our legal team can assess your case in detail and advise you on the best approach to recover your investment. We can also guide you on how and when to correctly declare your crypto transactions to the Spanish tax authorities.
