North Wales Police probe £2.1m Bitcoin theft case
North Wales Police have warned cryptocurrency holders of a new phishing scam after a victim lost £2.1 million in Bitcoin.
The force’s Cyber Crime team said the case involved a cold storage holder targeted through a highly sophisticated fraud.
The victim was contacted by someone posing as a senior UK law enforcement officer.
The caller falsely claimed that a suspect had been arrested and that the victim’s personal documents had been found on their phone.
Using this fabricated story to create fear, the scammer told the victim to “secure their assets” by logging into their cold storage device through a link.
Believing they were following genuine police instructions, the victim entered their seed phrase into a fake website. This allowed the scammers to recreate the wallet and steal £2.1 million in Bitcoin within minutes.
North Wales Police said they are working to trace the stolen funds, but stressed key warnings for crypto investors:
Police will never call unexpectedly about crypto assets or ask you to act on your cold storage device.
If in doubt, hang up and call 101 to verify any contact.
A seed phrase should only ever be entered on a cold storage device during setup or recovery. No company or police officer will ask for it.
A police spokesperson said the case highlights how scammers are developing new social engineering techniques to target even experienced holders.
“Scammers are constantly evolving their tactics. They are not just targeting new investors; they are crafting sophisticated schemes to trick even the most diligent holders. Stay vigilant, protect your assets and your seed phrase, and trust your instincts.”
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