Three Jailed in UK for Posing as Police to Steal $5.3 Million in Digital Assets

Three people have been sentenced to prison in the UK for posing as police officers to steal about $5.3 million, or 4 million pounds, in digital assets.

Decrypt reported on July 18 that UK police said the trio stole digital assets from eight victims by impersonating officers.

The group called victims and falsely claimed to be police officers. They told the victims their digital assets were at risk and persuaded them to share account information or transfer their holdings to a supposedly secure account in the police's name. Investigators also found that the group created fake websites resembling official police sites to deceive victims.

The trio used the stolen digital assets to buy vehicles worth about 60,000 pounds and stored about 500,000 pounds in cash in a safe-deposit box in Dubai. Police said they also spent the proceeds on luxury travel to Thailand, Japan, France and the Maldives, as well as Rolex watches and other high-end goods.

UK police said they traced the case by analyzing blockchain transaction records, exchange data, communications logs and financial transaction histories. They have recovered about 1 million pounds of the losses so far.