Authorities allege an organized crime group tricked victims into sharing wallet seed phrases, resulting in losses exceeding £300,000.
British authorities charged 10 individuals, including Olympic sprinter CJ Ujah, in a cryptocurrency fraud investigation involving losses over £300,000. Police allege the suspects impersonated officers and crypto firms to obtain wallet seed phrases from victims.
The charges follow raids across Kent, Essex, London, and Wakefield on April 29. Victims were reportedly convinced to disclose private recovery details, enabling fund transfers from their wallets. Seed phrases, critical for wallet access, are common targets in phishing scams.
All suspects appeared in court on April 30. Authorities did not specify which cryptocurrencies were stolen but confirmed one victim lost more than £300,000.