Legal Remedies for Crypto Ponzi Scams in the Philippines: Where and How to File Complaints

This guide explains, in practical and legal terms, how victims of crypto-based Ponzi and pyramid schemes in the Philippines can respond—criminally, civilly, and administratively. It’s general information, not legal advice; complex cases benefit from working with counsel experienced in securities and cybercrime.

1) What a “Crypto Ponzi” Looks Like in Philippine Law

Typical red flags

Guaranteed/high returns, paid from money of later joiners (not real trading).
“Investment packages” or “staking” with referral bonuses and lock-ups.
Unregistered “investment contracts” offered to the public.
Promoters ask you to pay via bank/e-wallet/crypto wallet; withdrawals later stall.

Why it’s illegal

Investment contracts are “securities.” Offering them to the public without registration violates the Securities Regulation Code (SRC, R.A. 8799). “Ponzi schemes” are classic fraudulent transactions under the SRC.
Estafa (swindling) under the Revised Penal Code—for false pretenses, deceit, or misappropriation of funds.
If five (5) or more individuals band together to defraud the public, it may be syndicated estafa (stiffer penalties).
Cybercrime law (R.A. 10175) applies when the offense uses computers, online platforms, or electronic devices; penalties can be imposed in addition to the underlying crime.
Financial Products and Services Consumer Protection Act (R.A. 11765) strengthens remedies against supervised financial firms that mistreat consumers (useful if a regulated bank/e-money issuer/virtual asset service provider (VASP) is involved).
Anti-Money Laundering Act (R.A. 9160, as amended) empowers asset freezing and tracing of criminal proceeds.

SEC vs. DTI vs. BSP—who regulates what?

SEC: investment-taking, securities (including crypto “investment contracts”), corporate violations.
DTI: consumer product/service complaints and deceptive sales not amounting to securities offerings.
BSP: supervises banks, e-money issuers, and VASPs (crypto exchanges operating in PH) for conduct/AML compliance—not investment schemes per se.

2) First 24–72 Hours: Do This Immediately

Preserve evidence
- Screenshots (full device time + URL/app name visible).
- Wallet addresses, TX hashes, exchange account IDs, deposit slips, e-wallet receipts, chat/email threads, marketing posts/videos, names/usernames of uplines/promoters.
- Save device logs, export chats (with metadata), download email headers.
Notify payment rails
- Your bank/e-wallet: report fraud and request block/hold if funds are still in transit.
- Exchange/VASP (sender or receiver): open a fraud ticket and submit wallet addresses/tx hashes and KYC info; request freezing if the funds reached their platform. (Foreign platforms may still cooperate on fraud.)
File a police blotter (nearest station) or report online to specialized units. Early documentation helps credibility and next steps.
List all losses (PHP and crypto), dates, counterparties, and proofs. This becomes your damages schedule for both criminal and civil actions.

3) Your Remedies: Three Tracks (You Can Run Them in Parallel)

A) Administrative & Regulatory (Fastest to flag the scheme)

Securities and Exchange Commission (SEC) – Enforcement and Investor Protection Department (EIPD)
- When: Any unregistered investment offer, suspected Ponzi/pyramid, or fraudulent solicitation.
- What to file: Complaint with Sworn/Notarized Statement + evidence (ads, receipts, wallet addresses, uplines’ names, corporate papers if any).
- What the SEC can do: Issue Advisories, Show-Cause Orders, Cease-and-Desist Orders, investigate, refer for criminal prosecution, and move to revoke corporate registrations.
- Why file: Speeds up public warnings and stops ongoing solicitations; helps your later criminal/civil cases.
Bangko Sentral ng Pilipinas (BSP) – Consumer Assistance (only if a BSP-supervised entity is involved: bank, EMI, or licensed VASP)
- When: Transaction mishandling, failure to assist on fraud, poor complaints handling by a supervised firm.
- What BSP can do: Direct the supervised firm to address the complaint; ensure reversals or remedies consistent with regulation; enforce AML expectations.
Anti-Money Laundering Council (AMLC) Secretariat)
- When: You seek asset freezing and tracing of scam proceeds.
- How it works: AMLC can investigate and apply with the Court of Appeals for a Freeze Order against accounts/wallets suspected to hold laundered proceeds. Often triggered by referrals from SEC/PNP/NBI or your counsel’s detailed request.
- Why file: Speed is critical—freezing assets early improves recovery odds.

Tip: File with SEC first (to characterize the scheme as a securities fraud), coordinate with PNP-ACG/NBI (for criminal build-up), and escalate to AMLC for a freeze application if money is traceable.

B) Criminal (Punish offenders + enable restitution)

Crimes to allege
- Estafa (Revised Penal Code), possibly syndicated estafa.
- SRC violations: unregistered sale of securities; fraudulent transactions.
- Cybercrime qualifying circumstance if done online.
Where to start
- PNP Anti-Cybercrime Group (ACG) or NBI (Cybercrime Division / Anti-Fraud).
- Submit a Complaint-Affidavit with annexes. They conduct investigation, issue subpoenas, preserve evidence, and endorse to the Office of the City/Provincial Prosecutor for inquest or preliminary investigation.
Prosecutor’s Office
- Venue: where any element of the crime occurred (e.g., where you were deceived, paid, or where the online act was accessed/committed). Cybercrime rules allow broader venue options.
- If the prosecutor finds probable cause, an Information is filed with the court.

Restitution

A criminal case automatically carries civil liability (ex delicto). Courts may order restitution upon conviction. You can also reserve your right to file a separate civil action (see next track).

C) Civil (Get your money back and secure assets)

Claims
- Annulment/Rescission for fraud; Declaration of Nullity (contracts contrary to law/public policy); Damages (actual, moral, exemplary); Unjust enrichment; Constructive trust over assets purchased with your money.
Provisional remedies (filed with the civil case)
- Preliminary Attachment (Rule 57) if the defendant committed fraud or is a non-resident/absconds—lets the sheriff levy property to secure judgment.
- Preliminary Injunction/TRO to stop ongoing solicitations or dissipation of assets.
Venue & courts
- For money claims: where you or the defendant resides.
- Small Claims can be used up to the current SC threshold (commonly up to ₱1,000,000); bigger claims go to MTC/RTC depending on amount-in-controversy. (Most Ponzi cases exceed small-claims.)
Class/representative suits
- If victims are numerous with common questions, a class/representative suit under the Rules of Court may be efficient. Courts still require proof of typicality, commonality, and adequate representation.

4) Where Exactly to File: A Practical Map

SEC (EIPD): File an administrative complaint for illegal investment solicitation/Ponzi. You can file at any SEC office; check SEC’s current complaint channels (in-person/online).
PNP-ACG: File a criminal complaint for estafa/cybercrime; bring digital and transaction evidence; you can file at national HQ or regional ACG offices.
NBI (Cybercrime/Anti-Fraud): Alternative to PNP-ACG; often helpful for complex cross-border and digital forensics.
Office of the City/Provincial Prosecutor: For preliminary investigation after ACG/NBI build-up, or direct filing if you already have a complete Complaint-Affidavit and evidence.
BSP: Only if a BSP-supervised institution (bank/EMI/licensed VASP) mishandled your complaint/fraud case.
AMLC: Through counsel or via referral (SEC/PNP/NBI), seek a Freeze Order on suspect accounts/wallets.

If the scammer is a Philippine corporation, include SEC Company Registration and Monitoring Department issues (revocation of registration) and consider piercing the corporate veil to hold directors/officers personally liable where the company is used to perpetrate fraud (Revised Corporation Code).

5) Evidence Strategy (What Investigators and Prosecutors Want)

Identity & scheme
- Names/aliases, social media handles, phone numbers, emails, websites, corporate papers, marketing decks, payout schedules, referral structures.
Money trail
- Wallet addresses (sender & recipient), TX hashes, blockchain explorer printouts, bank/e-wallet receipts, account names/numbers, exchange account IDs.
Causation & reliance
- Messages/ads promising returns, timelines of investment, requests to recruit.
Loss computation
- PHP value at each deposit date; fees; promised vs. received payouts.

Electronic evidence rules

Under the Rules on Electronic Evidence and the E-Commerce Act (R.A. 8792), electronic documents and signatures are admissible if properly authenticated (metadata, hashes, headers, custodian testimony). Keep original digital files; avoid altering filenames or EXIF data.

6) Freezing and Recovering Assets

Freeze Orders (AMLA): AMLC petitions the Court of Appeals ex parte; orders are time-bound and extendable. A freeze doesn’t automatically pay you—it preserves assets for eventual forfeiture or restitution via court judgment.
Preliminary Attachment (civil): lets sheriffs secure property early, subject to a bond you file.
VASP/Exchange holds: Many platforms voluntarily flag and hold funds upon credible fraud reports (especially if assets hit centralized exchanges).
Reality check: Crypto can move quickly and cross-border; early action vastly improves recovery odds. Even partial recoveries are wins; pursue all avenues simultaneously.

7) If You Were a “Promoter” or Upline

You may face administrative, civil, and criminal exposure (SRC fraud, selling unregistered securities, estafa), even if you were also a victim.
Mitigating steps: Cease all solicitations, preserve evidence, cooperate with authorities, consider returning commissions, and seek counsel before giving statements.

8) Cross-Border & International Help

The Philippines participates in international cooperation for cybercrime (through the DOJ Office of Cybercrime, e.g., under the Budapest Convention) and anti-money laundering (AMLC via the Egmont Group).
Your investigators can request subscriber/transaction data from foreign platforms and letter rogatory/MLA where needed. Expect longer timelines; strong, well-organized evidence packets help.

9) Timelines, Prescription, and Costs (Realistic Expectations)

Move fast. Both criminal and civil actions are subject to prescriptive periods (deadlines). In securities fraud, certain civil claims are time-barred after a set period from violation or discovery; criminal actions under special laws also prescribe under Act No. 3326.
Budget for notarization, filing fees (civil), bonds (for attachment/injunction), and attorney’s fees. Administrative filings (SEC/BSP) are typically low or no-fee but still require a complete dossier.
Parallel tracks take months to years; freezing early can be achieved faster than final recovery.

10) Step-By-Step Filing Checklists

A) SEC (EIPD) complaint (administrative)

Sworn Complaint-Affidavit (facts, timeline, legal basis under SRC, reliefs asked e.g., CDO, referral for prosecution).
Annexes: ads/posts, payout tables, wallets/tx hashes, receipts, list of victims (if group), corporate names/addresses, promoter identities.
Government ID, contact info.

B) PNP-ACG / NBI complaint (criminal build-up)

Complaint-Affidavit citing estafa (and SRC violations), with cybercrime qualifier if online.
Evidence list (digital and financial), witnesses (uplines, other victims).
Request subpoena to banks/e-wallets/exchanges; request coordination with AMLC.

C) Prosecutor’s Office (prelim investigation)

Verified Complaint-Affidavit + annexes; proof of identity and authority for group filers.
Indicate reservation or waiver of separate civil action.

D) Civil action (RTC/MTC)

Verified Complaint (causes of action: nullity/annulment, damages, constructive trust), Prayer for Attachment/Injunction.
Bond for provisional remedies; sheriff coordination.

E) BSP consumer complaint (if supervised firm involved)

Narrative of the incident; proof of first filing with the firm’s internal complaint desk; reference numbers; specific relief sought (reversal/credit/refund/freeze).

F) AMLC assistance request (through counsel or referral)

Case summary, legal basis (predicate offense/money laundering), wallet/accounts, amounts, evidence of flow, urgency; attach SEC/PNP/NBI filings.

11) Practical FAQs

Can I charge back crypto? Not like card chargebacks. But centralized exchanges/e-wallets can hold or return funds if alerted before off-ramps occur.
Do I need barangay conciliation? Generally no for criminal cases or for civil cases involving parties in different cities/municipalities or claims beyond the Katarungang Pambarangay thresholds.
Should I still file if I “earned” early payouts? Yes. Early payouts are often part of the fraud narrative; disclose them for credibility and accurate net loss computation.
What if I signed a contract saying “no guarantees”? Clauses don’t legalize an unregistered securities offering or fraud. Courts look at the substance (the investment contract), not labels.

12) Templates (Short Outlines You Can Reuse)

Complaint-Affidavit (criminal/SEC) – Skeleton

Parties (your full name, address).
Nature of complaint (Estafa; SRC violations; Cybercrime qualifier).
Facts and timeline (who said what; when you invested; amounts; promised returns; failed withdrawals).
Evidence list (Annex “A” receipts … “B” screenshots … “C” wallet addresses …).
Legal basis (cite estafa provisions; SRC on unregistered securities/fraud; cybercrime if online).
Reliefs (investigation, subpoena, arrest if warranted, freezing via AMLC referral, CDO for SEC).
Verification and jurat (notarization).

Loss Schedule

Date | Channel (bank/e-wallet/crypto) | Reference No. | Amount (PHP) | TX Hash | Destination (acct/wallet) | Notes

13) Common Pitfalls (And How to Avoid Them)

Waiting too long to file—funds get laundered and scattered.
Incomplete evidence—no TX hashes, no screen captures with timestamps.
Only one track—do SEC + PNP/NBI + AMLC + (if needed) civil together.
Talking to scammers after filing—can compromise strategy; let investigators handle.
Paying “recovery agents.” Many are secondary scams.

14) Quick Action Plan You Can Copy Today

Build your evidence bundle (Section 5).
File SEC EIPD complaint (administrative).
File PNP-ACG or NBI complaint (criminal build-up).
Ask investigators to coordinate with AMLC for a Freeze Order.
If losses are substantial, prepare a civil case with attachment.
If a bank/e-wallet/VASP is involved, file with its help desk; escalate to BSP if mishandled.
Consider grouping with other victims for class/representative action and shared costs.

Final note

You can absolutely do much of the paperwork yourself, but the speed and quality of filings—especially those seeking freeze orders and attachments—often decide whether money is actually recovered. A lawyer who regularly handles SRC + cybercrime + AML matters is well worth it in serious cases.

If you want, tell me your situation (amounts, where you paid, what platform), and I’ll draft a tailored Complaint-Affidavit and Loss Schedule you can reuse across the SEC, PNP/NBI, and AMLC filings.