UK Police Impersonation Scam Steals $2.8 Million

The threat to European crypto holders intensifies as a scammer impersonates a UK police officer, stealing approximately 2.1 million euros ($2.8 million) in Bitcoin using social engineering tactics. North Wales Police are investigating the incident following a victim who disclosed their wallet's seed phrase via a phishing link, believing they were communicating with a legitimate authority. A seed phrase, consisting of 12 to 24 words, serves as the master key to a self-custodied crypto wallet, granting complete control to anyone who possesses it. The scammer claimed that the victim's identification documents were found on a suspect's phone, prompting them to secure their assets. They directed the victim to enter their recovery phrase on a convincing spoofed website, resulting in immediate access to the wallet and subsequent withdrawal of funds by the thieves. Authorities emphasize that police will never reach out to the public regarding cryptocurrency holdings or instruct actions involving cold-storage devices. Furthermore, no legitimate organization will request a seed phrase. Victims are advised to terminate suspicious calls and verify through the non-emergency number 101. Social engineering scams, where criminals deceive individuals into revealing crucial wallet details, are prevalent in the crypto sector. Notably, a report from blockchain security firm TRM Labs indicated that thefts of private keys and seed phrases accounted for 80% of stolen funds in the first half of 2025. European nations are also experiencing physical attempts to steal cryptocurrency. France alone has seen at least ten wrench attacks, with reports of attempted kidnappings for crypto ransoms. Disclaimer: The Block is an independent media outlet. As of November 2023, Foresight Ventures is a majority investor in The Block and invests in other cryptocurrency-related companies. The Block maintains its independence in delivering factual and timely news about the crypto market. This article is for informational purposes only and not intended as legal, tax, investment, or financial advice.