Michaela
Summary: How did the scammer steal $2.8M in Bitcoin?
A scammer posed as a senior UK law enforcement officer and convinced the victim to enter their seed phrase on a fake website. Believing they were following police instructions, the victim unknowingly gave the scammer full access to their wallet. The scammer then withdrew all of the victim’s Bitcoin.
North Wales Police have launched an investigation into a case in which a scammer impersonating a senior UK law enforcement officer allegedly defrauded a victim of £2.1 million (around $2.8 million) in Bitcoin.
According to a Facebook post from the North Wales Police Cyber Crime team, the victim was contacted by a scammer claiming to be a senior UK law enforcement officer. The fraudster alleged they had arrested someone whose phone contained the victim’s personal identification documents, warning of potential security risks.
Exploiting the victim’s fear and sense of urgency, the scammer instructed them to “secure their assets” by accessing their cold wallet through a provided link. Believing they were following legitimate police instructions, the victim entered their seed phrase on a fraudulent website. This allowed the scammer to gain full control of the wallet and withdraw all of the victim’s Bitcoin.
The Cyber Crime team warned that law enforcement would never make unsolicited calls regarding crypto holdings or request action on cold storage devices. They advised individuals to hang up immediately and independently verify any suspicious communications. “This case serves as a reminder that scammers are constantly evolving their tactics. They are not just targeting new investors; they are crafting sophisticated social engineering schemes to trick even the most diligent holders,” the cyber crime team wrote.
Scammers Posing as UK Law Enforcement Officers: Stay Alert
This incident underscores that all crypto holders can be deceived into revealing their seed phrases. For SHIB holders, it serves as a stark reminder that scammers target anyone holding digital assets, not just newcomers. The key takeaway is clear: never share your seed phrase, no matter who claims to be contacting you, whether police, banks, or exchanges.
For the SHIB community, vigilance is as critical as tracking market activity. Protecting your holdings requires robust self-custody practices, and incidents like this emphasize why DYOR, “do your own research”, is something Shiba Inu strongly advocates for.
It applies not only to evaluating tokens but also to verifying the legitimacy of anyone reaching out regarding your crypto. Staying alert and informed is essential to maintaining trust and security in the decentralized ecosystem.
Read More
- North Korea’s Lazarus Group Tied to $23M UK Crypto Heist on Lykke
- UK Crypto Regulations Lagging Behind Global Leaders — Impact on SHIB Holders
- $2M UK Crypto Scam Sparks Warning: DYOR or Risk Losing More Than Tokens
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
