$2.8M in Bitcoin Vanishes in Police Impersonation Scam

Key Insights 

• Scammer impersonated a senior UK officer, tricking the victim into logging a cold wallet, stealing $2.8M Bitcoin.
• Police say victims likely targeted from data breach, showing new wave of advanced crypto holder scams.
• Authorities warn impersonation fraud is rising, urging users never to access wallets via unverified links.

North Wales Police confirmed that a scammer impersonating a senior UK law enforcement officer stole $2.8 million worth of Bitcoin from a victim. The funds, equal to 2.1 million British pounds, were drained in what investigators described as a “highly targeted and advanced scam.”

Meanwhile, the victim was contacted by the fraudster, who claimed they had arrested someone carrying a phone with the victim’s identification documents. Police said the scammer used this story to create a sense of fear and urgency, convincing the victim that their security was compromised. 

The victim was then instructed to log into their cold wallet through a malicious link, which gave the scammer access to their crypto.

Police Investigation Underway

The North Wales Police Cyber Crime team is investigating the case and working to recover the stolen funds. The department said the scheme reflects a new wave of attacks focused on long-term crypto holders who use cold storage devices. Officers noted that the victim may have been identified through a previous data breach, allowing the scammer to prepare a personalized approach.

Law enforcement agencies in the UK and abroad have reported similar cases of criminals impersonating officials to pressure victims. These scams range from simple demands for payment to elaborate staged operations involving multiple actors. The latest case demonstrates how impersonation tactics are evolving to target high-value crypto accounts.

Fear and Urgency as a Tactic

According to North Wales Police, the scammer told the victim that their identification documents could be used for “a host of potential security breaches.” The fraudster then instructed the victim to “secure their assets” by following the provided link, which was part of the scam.

This method of using urgency to manipulate victims has become common in online fraud. By convincing the victim their assets were at risk, the scammer was able to override caution and gain access to sensitive information. Investigators described this case as an example of how attackers use psychological pressure to exploit crypto holders.

Growing Trend in Crypto Scams

Authorities warn that impersonation scams continue to grow in scale and sophistication. North Wales Police described this case as a disturbing example of targeted attacks, especially against individuals with large holdings in cold storage.

Officials encourage crypto users to verify any contact claiming to be from law enforcement and to avoid logging into wallets through links provided over email or phone. While the investigation continues, the stolen Bitcoin remains unrecovered, and the case adds to a growing list of crypto-related fraud targeting UK residents.