pounds

#UK authorities are investigating a major cryptocurrency theft in which a victim lost 2.1 million British #pounds ($2.8 million) worth of #Bitcoin to a sophisticated scam. According to a report from Cointelegraph, the fraudster impersonated a senior police officer to deceive the victim, exploiting fear and urgency to gain access to private wallet information.
A Highly Targeted Attack
The North Wales Police Cyber Crime team confirmed on Tuesday that it is leading the investigation, describing the case as a “highly targeted and advanced scam.” Early findings suggest the victim may have been identified through a prior data breach, leaving them vulnerable to such an elaborate scheme.
The scam began when the victim was contacted by someone claiming to be a high-ranking law enforcement officer. The impersonator falsely alleged that an individual had been arrested in possession of the victim’s identification documents, suggesting a potential security compromise. Under this pretense, the scammer urged the victim to take immediate action to “secure their assets.”
How the Bitcoin Was Stolen
Believing the instructions were legitimate, the victim was directed to log in to their crypto cold storage wallet using a malicious link provided by the scammer. The fake website prompted the victim to enter their wallet’s seed phrase — the key to full account access. Once entered, the information gave the scammers complete control of the wallet, allowing them to withdraw the entire balance of $2.8 million in Bitcoin.
Police Response and Warnings
North Wales Police are now working to trace the stolen funds and determine whether the attackers can be identified. The force issued a public warning emphasizing that:
Police will never call unexpectedly to discuss cryptocurrency assets.
Law enforcement officers will not request actions involving cold storage devices.
Any suspicious communication should be ended immediately, and the recipient should independently verify legitimacy by contacting police directly.
The case highlights how even long-term crypto holders using cold wallets can be vulnerable to advanced social engineering tactics.
A Growing Global Threat
Authorities stressed that scammers are continually refining their methods, targeting not only inexperienced investors but also seasoned holders. In related alerts, the U.S. FBI recently warned of criminals impersonating crypto exchange staff to trick users into sharing account details. Earlier this year, the FBI also cautioned against the rise of AI-powered deepfake scams, including voice messages mimicking senior U.S. officials to manipulate victims.
Outlook
The investigation into the North Wales case underscores the importance of vigilance among cryptocurrency users. As law enforcement agencies warn, protecting seed phrases, verifying official communications, and treating unexpected calls with suspicion are critical defenses against a new wave of sophisticated fraud targeting digital assets.
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