UK Convicts Gang That Stole £4 Million in Cryptocurrency Posing as Police Officers

The Metropolitan Police of London revealed on Thursday (16) the conviction of three men who posed as police officers to steal cryptocurrency from investors. The stolen amount reaches £4 million (R$ 27.4 million) in just eight cases.

Investigations indicate that the suspects used the stolen money to fund a luxurious lifestyle, including the purchase of cars, designer clothes, and travel.

A similar case occurred in Brazil earlier this month. After pretending to be from the Civil Police, two men kidnapped an influencer in Ribeirão Preto and forced him to transfer R$ 750,000 in cryptocurrency.

Unlike the case in Brazil, the gang operating in the UK deceived its victims over the phone. In summary, they claimed that their cryptocurrencies were at risk, creating a sense of urgency so that investors would not think rationally about the call.

Additionally, they also maintained fake websites that imitated the official police pages.

The scheme was uncovered after the victims approached the authorities in January 2025. The police analyzed various data, including cryptocurrency transactions, financial records, data from cryptocurrency exchanges, and information from internet service providers.

Subsequently, they managed to identify the suspects by their nicknames, as well as phone numbers, websites, and spending patterns, leading to the discovery of connections to crimes that initially seemed isolated.

Geoff Donoghue, a detective inspector from the Metropolitan Police's Cryptocurrency Team, comments that the investigation was highly complex.

"The Metropolitan Police's Cryptocurrency Team meticulously tracked millions of pounds, combining a wide range of investigative techniques to dismantle a significant criminal network. Criminals should have no doubt: police work is evolving alongside technology. We have the capability to trace and seize high-value assets and will do everything in our power to identify those responsible for these fraud crimes and bring them to justice."

The three individuals were identified as Hamza Bashir (23), Kevin Nwamma (25), and Anthony Ikenwe (29). Among the charges are conspiracy to commit fraud and money laundering.

"Hamza Bashir initially denied involvement and went to trial, but changed his plea to guilty on the eighth day of the trial after authorities presented a substantial set of evidence."

Additionally, the police also seized various electronic devices, including 40 mobile phones, luxury items, and cryptocurrencies. Of the £4 million stolen from the victims, British authorities managed to recover £1 million.

According to the Metropolitan Police of London, the three suspects maintained a luxurious lifestyle with the money stolen from the victims.

Highlights include the purchase of a car valued at £60,000 (R$ 411,000), around £500,000 (R$ 3.4 million) in cash kept in a safe in Dubai, and trips to Thailand, Japan, Paris, Mykonos, the Maldives, and Seychelles.

Despite this, one of the convicted individuals declared an income of only £444.

Other mentioned expenses include frequent purchases at luxury stores such as Harrods, Hermès, and Louis Vuitton, as well as stays in hotels and restaurants.

Finally, the case illustrates how cryptocurrencies can be easily traced, facilitating the work of authorities. On the other hand, as the gang spent a good portion of the money, the victims will need to bear the loss.

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