Five Men Nabbed in London Crypto Scam Raid – £1 Million Stolen, Thousands at Risk
Fake Crypto Sites Lure Victims with Fake Promises
The Met Police have smashed a major London cryptocurrency fraud, arresting five men linked to a £1 million rip-off. Detectives warn thousands more could be trapped in this high-stakes con.
The Economic Crime Unit uncovered a criminal ring running fake crypto websites claiming to offer exclusive pre-sale deals that would double investors’ cash once their tokens hit major exchanges.
But these tokens had zero plans to list anywhere – meaning the promised returns were pure fiction. The dodgy sites include:
- DTX Exchange: dtxexchange.com
- Intel Markets: intelmarkets.io
- Cryptids: cryptidsgame.io
- Algo Tech Trades: algotech.trade
- Unilabs Finance: unilabs.finance
Many operated under multiple names, making them tricky to trace and upping the risk for unsuspecting investors.
Boiler Room Calls Push Victims to Pour More Cash
The scam also involved a London boiler room where victims were hounded with relentless calls, pressuring them to throw even more money into the scheme.
Detective Sergeant Stephen Bourne warned: “These websites are highly convincing, using fake endorsements and aggressive marketing to lure victims. Once you send cryptocurrency, it’s almost impossible to get it back. If you have doubts, don’t invest.”
The fraud reaches far beyond London, with a global web of victims caught in the sweep.
Met Urges Victims to Speak Up and Stay Alert
Police are hunting anyone affected by the scam. Victims are urged to report fraud to Action Fraud here or call 0300 123 2040.
The Met advises all potential investors to research thoroughly and check the Financial Conduct Authority’s warning list. Their Little Book of Crypto Crime offers key tips for staying safe.
The five men, aged 21 to 37, were arrested across London on 1 October and are now on bail as investigations continue.
With millions lost across the UK, the Met’s warning is simple: don’t get fooled by crypto scams disguised as get-rich-quick schemes.
