Two Nigerians jailed in UK for £4 million crypto fraud

A sophisticated cryptocurrency fraud ring, involving two Nigerian nationals and a third man, has been dismantled and its perpetrators jailed in the United Kingdom. The group successfully defrauded eight victims of more than £4 million by impersonating police officers.

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This was a highly complex investigation into a group of calculated manipulators who exploited victims’ trust by pretending to be police officers and spent other people’s money to fund their extravagant lifestyles.

The scam operated by deceiving victims into believing their cryptocurrency assets were at risk. The fraudsters then persuaded the victims to transfer their funds to what they claimed were "secure police accounts." To lend credibility to their scheme, the group created convincing fake police websites. Once the cryptocurrency was transferred, it was immediately stolen and laundered through a complex financial network.

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The Met’s Cryptocurrency Team painstakingly traced millions of pounds, combining a wide range of investigative techniques to dismantle a significant criminal network.

Detective Inspector Geoff Donoghue of the Metropolitan Police's Cryptocurrency Team described the operation as involving "calculated manipulators who exploited victims' trust." He highlighted the extensive efforts of the Met's Cryptocurrency Team, which utilized a wide range of investigative techniques to trace millions of pounds and dismantle the criminal network. "Criminals should be under no illusion – policing is evolving alongside technology," Donoghue stated. "We have the capabilities to trace and seize high-value assets, and we will do everything in our power to identify those responsible for these fraudulent crimes and bring them to justice."

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Criminals should be under no illusion – policing is evolving alongside technology.

The investigation, which began in January 2025 after victims reported the fraud, involved meticulous analysis of blockchain transactions, financial records, communications, and cryptocurrency exchange data. This allowed detectives to link seemingly separate offenses to a coordinated network operating across multiple platforms and jurisdictions. The convicted individuals were identified as Anthony Ikenwe, 29, and Kevin Nwamma, 25, both Nigerians, and Hamza Bashir, 23. They were sentenced at Southwark Crown Court. Ikenwe and Nwamma received six-year sentences for conspiracy to commit fraud and five-year sentences for money laundering, served concurrently. Bashir was sentenced to three years and nine months for conspiracy to commit fraud and three years for money laundering, also served concurrently. During raids on seven addresses across London and Essex in November 2025, officers recovered approximately £1 million directly linked to the victims' losses.

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We have the capabilities to trace and seize high-value assets, and we will do everything in our power to identify those responsible for these fraudulent crimes and bring them to justice.