UK crypto scam: Fake police gang jailed after $5.4M heist

Three UK men were jailed for stealing over £4M in crypto by posing as police and using fake websites. The funds were spent on luxury goods and trips. Sentences ranged up to 11 years.

Three men in the UK—Hamza Bashir, Kevin Nwamma, and Anthony Ikenwe—have been sentenced to prison for orchestrating a cryptocurrency scam that defrauded victims of over £4 million ($5.4 million). The group impersonated police officers, set up fake police websites, and convinced crypto holders that their funds were at risk, instructing them to transfer assets to fraudulent accounts. The stolen funds were laundered and spent on luxury items, including a £60,000 car, designer goods from Harrods, Hermès, Louis Vuitton, Rolex watches, and lavish trips to destinations such as Thailand, Japan, the Maldives, and the Seychelles. Police discovered £500,000 in cash in a safety deposit box and found that much of the stolen crypto had been converted into payment cards. Sentences for the men ranged from three years and nine months to eleven years. This case highlights the growing risks of social engineering and impersonation tactics in cryptocurrency-related fraud.