Scammer poses as senior UK cop to steal $2.8M in crypto

UK police are working to recover a victim’s funds after a scammer managed to steal 2.1 million British pounds ($2.8 million) worth of Bitcoin from them by impersonating a senior police officer

North Wales Police Cyber Crime team said on Tuesday it is investigating the Bitcoin (BTC) theft, saying the case “highlights a disturbing new trend targeting long-term crypto holders who use cold storage devices.”

The victim could have been identified in a data breach, making it a “highly targeted and advanced scam,” the police added.

Police in the UK and abroad have long warned of scammers impersonating law enforcement or government officials to con victims, with attacks ranging from straightforward requests for payment to elaborate, multifaceted schemes to obscure the scam.

Officer impersonated in crypto theft, police say

North Wales Police said a victim was contacted by a scammer “posing as a senior UK law enforcement officer.”

The scammer claimed they arrested someone whose phone had the victim’s identification documents and emphasized it could mean the victim was open to a host of potential security breaches.

Exploiting a “sense of fear and urgency,” police said the victim was told to “secure their assets” by logging into their crypto cold wallet with a link the fake cop provided.

Source: Facebook

“The victim, worried and believing that they were following police instructions, entered their seed phrase (password) into what was a sophisticated, fake website.”

The scammers, now with total control and access to the wallet, withdrew the $2.8 million worth of Bitcoin within.

Cops say to verify, not trust

North Wales Police said it’s working to trace and recover the funds, and told crypto holders how to verify they’re talking to real cops and what law enforcement would ask in reality.

“Police will NEVER call you unexpectedly to discuss your crypto assets or ask you to take action on your cold storage device. This is a big red flag,” the team said.

It advised to hang up on suspicious calls and contact the police directly to verify a call is legitimate if someone claims to be law enforcement, and that police would never ask for a crypto seed phrase.

Related: Crypto giants launch ‘Beacon Network’ to track and freeze stolen crypto

“Scammers are constantly evolving their tactics,” North Wales Police said. “They are not just targeting new investors; they are crafting sophisticated social engineering schemes to trick even the most diligent holders.”

Police warn of other impersonation scams

The US FBI warned earlier this month that scammers are posing as crypto exchange employees, contacting potential victims to claim they have account problems and tricking them into sending information used to access the account.

In May, the FBI had warned that attackers were using artificial intelligence-powered deepfakes to send voice messages masquerading as senior US officials in a campaign mainly targeting current or former US federal and state government staff.

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