Authorities in Kent have issued a warning following a sophisticated cryptocurrency scam that resulted in nine victims losing a total of £1 million. The fraudsters exploited personal details leaked online, using the stolen information to manipulate victims into handing over their crypto wallet credentials.
How the Scam Worked
According to police, the scammers used a two-step deception tactic. First, they contacted victims, posing as police officers investigating fraudulent activity linked to their accounts. The fraudsters reassured victims that their case was being handled and that they should expect a follow-up call from their crypto wallet provider.
Shortly after, another scammer, pretending to be a “security officer” from the crypto wallet company, reached out to the victims. Under the guise of helping secure their funds, the fraudster requested their seed phrase—a highly sensitive 12 or 24-word key used to access and manage cryptocurrency wallets.
Once the victims shared their seed phrases, the scammers drained their wallets, transferring the funds out of reach within moments.
Authorities Urge Vigilance
Detective Sergeant Darryll Paulson urged the public to remain cautious, warning that scammers are becoming increasingly deceptive.
“These fraudsters use urgent and convincing tactics to pressure victims into making hasty decisions. If someone claiming to be from the police or a crypto platform contacts you unexpectedly and asks for personal details—especially your seed phrase—do not provide any information.”
Paulson also emphasized that no legitimate company or law enforcement officer would ever request a seed phrase.
How to Stay Safe
- Never share your seed phrase with anyone, regardless of who they claim to be.
- Verify calls independently—if someone says they are from the police or your crypto exchange, contact the official number to confirm.
- Be skeptical of urgency—scammers create panic to force quick actions. If you feel pressured, take a step back and think before responding.
- Report suspicious activity—if you suspect a scam, contact Action Fraud and your crypto exchange immediately.
The Kent police continue to investigate the case, and authorities are urging anyone who believes they have been targeted to come forward.
