Police warn after 2.1 million Bitcoin scam

A police warning follows a case where a victim lost 2.1 million pounds in Bitcoin after a scammer posed as a senior UK officer.

Police warn after 2.1 million Bitcoin scam

North Wales Police have issued a warning after a victim lost £2.1 million in Bitcoin to a method described as a sophisticated scam. The attacker posed as a senior UK police officer and used a fake security breach story to lure the victim into entering their password on a counterfeit site. Police described the tactic as social engineering, aimed at exploiting trust in authorities and urgency in security alerts. The case underscores a disturbing trend where criminals tailor attacks to crypto holders who believe they are protected by their own precautions.

The force urged crypto users to stay vigilant, verify any security alert through official channels, and never share passwords. It also provided guidance on steps to reduce risk, such as enabling two-factor authentication, using unique passwords, and checking website domains before entering credentials. While authorities warn, the onus remains on individuals to pause, verify, and report suspicious activity quickly.

This incident shows how social engineering has evolved. Criminals weaponize authority figures, using urgency to rush decisions and steal passwords. The scale of the loss highlights the high stakes in crypto markets and the fact that a single mistake can erase years of work.

Public guidance helps, but real changes will come from better security features, clearer verification channels, and more digital literacy. Authorities can lead, but individuals must adopt habits that make scams harder to succeed, such as independent checks of any alert and stronger personal security practices.

Highlights

Public awareness is the final shield against scams that blend authority and tech.