Urbixas.com Scam Warning: Michael Schmidt and an Alleged Cryptocurrency Recovery Scam
Cryptocurrency scams can cause devastating financial losses, but for some victims, the danger does not end with the original investment fraud. After losing money, victims may be approached by individuals claiming they can recover their cryptocurrency. These so-called recovery services can become a second scam, with victims pressured to pay additional fees, verification charges, or other costs before their funds can supposedly be returned.
One case that deserves particular attention involves Urbixas.com and the name Michael Schmidt.
On June 3, 2026, the Washington State Department of Financial Institutions (DFI) issued an alert concerning an alleged cryptocurrency recovery service associated with Urbixas.com. The regulator categorized the matter as a Recovery Scam / Cryptocurrency Scam and stated that the reported facts and losses had not been independently verified.
What Is Urbixas.com?
According to the Washington DFI alert, Urbixas represented itself as a blockchain consulting company providing services connected with cryptocurrency, including:
- Cryptocurrency wallet integration
- Wallet verification
- Cryptocurrency recovery
- Blockchain-related assistance
The DFI identified Urbixas.com, along with contact information associated with the alleged service, in its consumer warning.
For anyone researching Urbixas.com, the regulatory warning is particularly important because it concerns allegations that a person who had already lost money in a cryptocurrency investment scam was subsequently targeted by a purported recovery service.
The Alleged Michael Schmidt Connection
According to the complaint described by Washington DFI, the investor initially encountered an individual identifying himself as Michael Schmidt, who allegedly claimed to be a broker living in Chicago.
The reported contact began through a dating website.
According to the complaint, Schmidt allegedly encouraged the investor to withdraw money from existing investment accounts and take out loans to fund cryptocurrency trading.
The investor reportedly transferred money into a cryptocurrency investment opportunity that subsequently appeared to be fraudulent. When the investor attempted to withdraw the funds, the account was reportedly frozen.
The complaint stated that the reported loss from the initial investment was approximately $43,500.
It is important to distinguish allegations from established facts. The Washington DFI specifically notes that the reported facts and losses have not been independently verified.
The Alleged Recovery Scam
After reportedly losing the investment, the victim searched online for assistance recovering the funds.
According to the DFI complaint, this led to Urbixas.com.
The investor reportedly encountered individuals identifying themselves as Mark Cooper and Kevin Marsh, who allegedly claimed they could recover the lost cryptocurrency.
The investor was reportedly instructed to make multiple verification-fee payments.
According to the complaint, the total amount paid for the purported recovery services eventually exceeded $50,000.
The reported cryptocurrency investment, however, was allegedly not recovered.
This is precisely why cryptocurrency recovery scams are so dangerous: a victim who has already suffered a financial loss can be persuaded to send even more money in the hope of getting the original funds back.
What Is a Cryptocurrency Recovery Scam?
A cryptocurrency recovery scam occurs when someone approaches a person who has already lost money and claims they can recover the stolen or missing cryptocurrency.
The fraudster may claim to be:
- A blockchain investigator
- A cryptocurrency recovery specialist
- A lawyer
- A financial investigator
- A cybersecurity expert
- A government-connected recovery agent
The victim may then be told that a payment is required before the cryptocurrency can be released.
Common descriptions include:
- “Verification fee”
- “Blockchain recovery fee”
- “Wallet activation fee”
- “Tax payment”
- “Release fee”
- “Compliance charge”
- “Security deposit”
These demands can continue indefinitely.
Why Recovery Scams Work
Recovery scammers understand the psychology of financial victims.
Someone who has lost $10,000, $50,000, or more may desperately want to recover the money. When another person claims to have located the cryptocurrency, the victim may see the opportunity as a second chance.
That is exactly what makes recovery fraud so effective.
The scammer does not necessarily need to convince the victim that the original investment was legitimate. Instead, the scammer simply needs to convince the victim that the lost money can now be recovered.
The Warning Signs in the Urbixas Allegations
Several elements described in the Washington DFI alert deserve particular attention.
Multiple Payments
According to the complaint, the victim reportedly made verification payments multiple times.
Repeated demands for additional money are a major warning sign when someone claims they can recover cryptocurrency.
Large Recovery Fees
The complaint reportedly involved more than $50,000 in payments for the alleged recovery service, despite the original reported investment loss being approximately $43,500.
This illustrates how recovery scams can potentially cause victims to suffer a second substantial financial loss.
Cryptocurrency Recovery Claims
Cryptocurrency transactions recorded on a blockchain can often be traced, but that does not mean that an unknown company can simply reverse a transaction or take control of another person’s wallet.
Bitcoin and other cryptocurrency transactions generally cannot be reversed merely because someone claims to be a recovery specialist.
Dating-App Contact
The complaint described an alleged investment relationship that began through a dating website.
This is an important warning sign because romance scams and investment scams can overlap. Someone may establish a personal relationship before introducing cryptocurrency investments.
The Romance Scam-to-Investment-to-Recovery Pattern
The alleged sequence described in the DFI warning demonstrates how several types of fraud can become connected:
Dating website → relationship building → cryptocurrency investment → funds become inaccessible → victim searches for help → alleged recovery service → additional payments
This progression is particularly dangerous because the victim may be targeted repeatedly by different people or organizations.
Additional Websites Mentioned in the Regulatory Alert
The Washington DFI also stated that its review of contact information associated with Urbixas identified other websites it considered potentially fraudulent, including:
- theprimesetltd.com
- snapfindsco.com
The presence of additional websites does not, by itself, establish that the same individuals operate every site. However, the information is included in the regulator’s warning and provides another reason for consumers to conduct independent research before sending money.
Red Flags of a Cryptocurrency Recovery Scam
Be extremely cautious when someone claims they can recover your cryptocurrency and:
- Guarantees that your money will be recovered
- Requests an upfront payment
- Demands repeated verification fees
- Claims your wallet has been “located”
- Says cryptocurrency must be “unlocked”
- Requests cryptocurrency payments
- Promises access to government or law-enforcement systems
- Requests remote access to your computer
- Pressures you to act immediately
- Claims that additional payments are necessary before releasing funds
A legitimate professional should be able to explain exactly what service they provide, who they are, how they are regulated where applicable, and what fees apply before taking your money.
What to Do If You Have Been Targeted
If you believe you have interacted with Urbixas.com, Michael Schmidt, or another purported cryptocurrency recovery service, preserve all available evidence.
This can include:
- Emails
- WhatsApp conversations
- Telegram messages
- Dating-app conversations
- Telephone numbers
- Website addresses
- Wallet addresses
- Blockchain transaction hashes
- Screenshots
- Bank statements
- Cryptocurrency exchange records
- Payment receipts
- Invoices
- Recovery-service agreements
Do not delete messages simply because they appear fraudulent. They may help establish the timeline and identify where funds were sent.
Never Pay More Money to Recover Lost Cryptocurrency Without Verification
One of the most important lessons from alleged recovery scams is simple:
Losing money to a cryptocurrency scam does not mean you should automatically trust the next person who promises to recover it.
Before paying a recovery company, independently verify its identity, registration, credentials, physical presence, and claims.
Be especially cautious when the company says that your money is already recovered but requires one final payment before you can receive it.
That “final payment” can become another fee, followed by another fee, and another.
How ForteClaim Approaches Crypto Scam Cases
For victims researching cryptocurrency fraud, the first priority should be evidence preservation and independent verification.
A properly documented case can include:
- The original investment platform
- The people who contacted the victim
- The websites involved
- Cryptocurrency wallet addresses
- Blockchain transaction hashes
- Bank transfers
- Screenshots
- Communication records
- Subsequent recovery-service contacts
Keeping the entire chain of events together can be particularly important when a victim has experienced both an initial investment scam and a subsequent recovery scam.
Final Verdict: Is Urbixas.com a Scam?
Urbixas.com is the subject of a June 3, 2026 warning from the Washington State Department of Financial Institutions concerning an alleged cryptocurrency recovery scam. The regulator specifically lists Urbixas.com and the name Michael Schmidt in connection with its alert and classifies the matter as a Recovery Scam / Cryptocurrency Scam.
However, the DFI states that the reported facts and losses have not been independently verified. Therefore, it is more accurate to describe Urbixas.com as a website named in a regulatory warning concerning an alleged cryptocurrency recovery scam, rather than presenting every allegation as an established fact.
The Bottom Line
The Urbixas.com case highlights one of the most damaging developments in cryptocurrency fraud: the second scam that targets victims after the first scam has already taken their money.
If someone claims they can recover your cryptocurrency and asks for additional payments for verification, taxes, wallet unlocking, compliance, or release of funds, stop and independently verify the service before sending anything further.