
A UK fraud ring that stole £5M in crypto used fake police calls and Snapchat to pressure victims. Three men received 28 years combined.
A fraud ring that stole roughly £5 million in cryptocurrency from UK victims used fake police calls and Snapchat messages to pressure targets into handing over account credentials, prosecutors said.
Three men – Anthony Ikenwe, 22, Hamza Bashir, 22, and Kevin Nwamma, 24 – received a combined 28 years and nine months in prison after pleading guilty to conspiracy to defraud. The sentences were handed down at Southwark Crown Court.
The group bought personal data from dark-web sources, then contacted victims by phone, prosecutors said. Callers claimed to be police officers or cryptocurrency exchange staff, warning that the victim's digital assets were under immediate threat. Victims were told to transfer crypto to wallets controlled by the ring or to share login details.
Eight confirmed victims lost nearly £5 million in total, according to court documents. The ring also directed targets to fake websites that mimicked legitimate crypto platforms, capturing usernames, passwords and two-factor codes.
One of the most compelling pieces of evidence was video footage showing a suspect on a scam call, attempting to persuade a victim to hand over a password, police said. CCTV footage later showed members of the group making luxury purchases at Harrods. Photographs of the suspects posing with expensive vehicles were also entered into evidence.
The case underscores how social engineering – not technical hacking – remains the primary vector for crypto theft targeting retail investors, law enforcement officials said.
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