British fake police gang sentenced for stealing $5.4 million in cryptocurrency

According to Odaily, a gang in the UK posed as police officers and created a fake police website. By impersonating law enforcement over the phone, they convinced cryptocurrency holders to transfer funds into so-called "safe accounts," stealing $5.4 million worth of cryptocurrency. They were sentenced this week. Hamza Bashir, 23, Kevin Nwamma, 25, and Anthony Ikenwe, 29, were sentenced to six years and nine months, eleven years, and eleven years in prison, respectively. The stolen funds were used to purchase luxury goods, including a £60,000 car, vacations to Thailand and Japan, and items from brands such as Harrods, Hermès, Louis Vuitton, and Rolex. Police also discovered £500,000 in cash in a safe and determined that most of the stolen cryptocurrency had been converted into payment cards. Gang members also falsely reported their annual income, with one declaring only £444.