UK Jails Three Men Over $5.4M Fake Police Crypto Scam 

• UK court jails three men for stealing $5.4M in crypto through fake police scams.
• The gang used fake police websites to trick victims into transferring crypto assets.
• Police traced blockchain transactions and recovered nearly £1 million in stolen funds.

Three men who impersonated police officers and built fake police websites to steal more than £4 million ($5.4 million) in cryptocurrency have been jailed following a major investigation by London’s Metropolitan Police.

The fraud targeted eight victims, who were convinced their crypto holdings were at risk. The gang instructed them to transfer their assets to what they claimed were secure police-controlled wallets. 

Instead, the funds were immediately stolen and laundered through a complex network before being spent on luxury goods and overseas holidays.

Fake Police Operation Stole Millions

The scheme relied on social engineering rather than technical hacking. The group contacted victims while pretending to be police officers and directed them to fake police websites.

Victims were told their cryptocurrency accounts had been compromised and were persuaded to either hand over account credentials or transfer their digital assets to “safe” police wallets.

Investigators later found that the operation linked multiple aliases, phone numbers, fake websites, cryptocurrency wallets, and financial transactions, revealing an organized criminal network operating across several platforms and jurisdictions.

The Metropolitan Police launched the investigation after victims reported the fraud in January 2025. Detectives combined blockchain analysis, crypto exchange records, financial data, communications, internet service provider records, and other digital evidence to trace the stolen funds.

Lavish Lifestyle Funded With Stolen Crypto

Police said the gang spent victim funds on luxury cars, designer shopping, expensive hotels, and international travel despite having little or no legitimate income.

Investigators discovered that Anthony Ikenwe had declared an annual income of just £444 ($597), yet controlled cryptocurrency wallets holding more than £1 million ($1.3 million) linked to the fraud.

Authorities uncovered a nearly £60,000 ($80,000) luxury car purchased using cryptocurrency, around £500,000 ($672K) in cash stored inside a Dubai safety deposit box, and holidays to Thailand, Japan, Paris, Mykonos, the Maldives, and the Seychelles.

Financial records also showed the stolen cryptocurrency was routinely converted into payment cards before being used at luxury retailers including Harrods, Hermès, Louis Vuitton, and Rolex. Goods worth more than £26,000 ($35K) were seized during police searches.

Investigators also traced proceeds of the crime to Kevin Nwamma through transfers into bank accounts connected to his luxury chauffeur and transport business.

Three Men Sentenced

Police arrested Anthony Ikenwe, Kevin Nwamma, and Hamza Bashir during coordinated raids across seven properties in London and Essex in November last year. Officers seized cryptocurrency assets, luxury goods, digital devices, and around 40 mobile phones.

Authorities also recovered approximately £1 million ($1.3 million) directly linked to stolen victim funds.

Anthony Ikenwe, 29, received concurrent sentences of six years for conspiracy to commit fraud and five years for money laundering. Kevin Nwamma, 25, received the same concurrent sentences. Hamza Bashir, 23, was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering.

Ikenwe and Nwamma pleaded guilty in April to fraud, conspiracy, and money laundering offenses. Bashir initially denied involvement but changed his plea during the eighth day of trial after prosecutors presented substantial evidence.

Related: Gwalior CA Loses Over Rs 21 Crore in Major Crypto Investment Scam