Scammer Posing as UK Police Officer Steals $2.8M in Bitcoin from Cold Wallet

In a chilling twist on social engineering, a fraudster impersonated a senior UK police officer to dupe a long-term crypto holder into handing over their seed phrase—resulting in a theft of approximately $2.8 million in Bitcoin.

Authorities in North Wales are investigating a sophisticated cryptocurrency theft after a scammer successfully impersonated a senior UK law enforcement officer to steal £2.1 million (about $2.8 million) worth of Bitcoin from a cold storage wallet. The incident, described by police as “highly targeted and advanced,” appears to have been facilitated by a prior data breach that exposed the victim’s personal information.

The criminal contacted the victim under the guise of a police inquiry, claiming that law enforcement had arrested an individual whose phone contained the victim’s identification documents. This narrative was designed to instill fear and urgency, prompting the victim to “secure their assets” by logging into what they believed was a legitimate site via a provided link.

The victim complied—entering their seed phrase on a highly convincing phishing website—unwittingly granting the scammer instant access to their wallet. The perpetrator swiftly transferred out all funds, netting approximately $2.8 million in Bitcoin.

North Wales Police have issued a stern warning: law enforcement will never call unexpectedly to ask about cryptocurrency holdings or instruct someone to access their cold storage. They urge anyone receiving such calls to terminate the call immediately and verify through official channels, such as dialing the non‑emergency 101 line.

This incident underscores an escalating trend of targeted social engineering attacks aimed at experienced crypto holders using cold wallets. Blockchain security firm TRM Labs noted that private key theft, often via seed phrase compromise, has accounted for over 80% of crypto asset losses in H1 2025 alone.

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