UK Crypto Investor Loses £2.1M to Police Impersonation Scam
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A British crypto holder has fallen victim to a sophisticated scam in which fraudsters posed as senior UK law enforcement, stealing nearly £2.1 million ($2.8 million) worth of Bitcoin.
According to the North Wales Police Cyber Crime Unit, the attackers convinced the victim to disclose their seed phrase by creating a false sense of urgency. The scammers alleged that a suspect had been arrested with the victim’s personal details, warning of imminent security risks. Under pressure, the victim was instructed to log into their cold wallet using a malicious link, unknowingly handing over access to their funds.
Police believe the victim may have been singled out through a previous data breach, making the crime a “highly targeted and advanced operation.”
With access secured, the scammers drained the victim’s wallet, seizing millions in Bitcoin. Investigators are now working to trace the stolen funds.
Authorities emphasized that real police officers will never call out of the blue to discuss crypto assets, nor will they ever ask for passwords or seed phrases. Instead, they urged investors to hang up and verify calls directly through official channels if contacted by anyone claiming to be law enforcement.
The case adds to a growing wave of impersonation scams worldwide. The FBI has recently warned about fraudsters posing as crypto exchange employees or even using AI-generated deepfake voices to impersonate government officials.
North Wales Police concluded with a caution:
“Scammers are constantly adapting. They’re no longer just targeting new investors—they’re crafting highly convincing schemes to deceive even seasoned crypto holders.”
