Current timestamp: 30/01/2023 11:07:15
AgeAlertAnonymousAppealsApplicationsApply Or RegisterArea OutlineArrow DownArrow LeftArrow RightArrow UpAutomatic DoorsBack ArrowBusinessCalendarCashArrow DownArrow LeftArrow RightArrow Down[Missing text '/SvgIcons/Symbols/Titles/icon-chrome' for 'English (United Kingdom)']ClockCloseContactDirectionsDocumentDownloadDrawDrugExpandExternal LinkFacebookFb CommentFb LikeFiletype DefaultFiletype DocFiletype PdfFiletype PptFiletype XlsFinance[Missing text '/SvgIcons/Symbols/Titles/icon-firefox' for 'English (United Kingdom)']First AidFlickrFraudGive FeedbackGlobeGuide DogHealthHearing ImpairedInduction LoopInfoInstagramIntercom[Missing text '/SvgIcons/Symbols/Titles/icon-internet-explorer' for 'English (United Kingdom)']LaptopLiftLinkedinLocal ActivityLoudspeakerLow CounterMailMapMap PinMembershipMenuMenu 2[Missing text '/SvgIcons/Symbols/Titles/icon-microsoft-edge' for 'English (United Kingdom)']Missing PeopleMobility ImpairmentNationalityNorth PointerOne Mile RadiusOverviewPagesPaper PlaneParkingPdfPhonePinterestPlayPushchairRefreshReportRequestRestart[Missing text '/SvgIcons/Symbols/Titles/icon-rotate-clockwise' for 'English (United Kingdom)']Rss[Missing text '/SvgIcons/Symbols/Titles/icon-safari' for 'English (United Kingdom)']SearchShareSign LanguageSnapchatStart AgainStatsStats And Prevention AdviceStopSubscribeTargetTattosTell Us AboutTickTumblrTwenty Four HoursTwitterTwitter LikeTwitter ReplyTwitter RetweetUploadVisually ImpairedWhatsappWheelchairWheelchair AssistedWheelchair ParkingWheelchair RampWheelchair WcYoutubeZoom InZoom Out

Quickly exit this site by pressing the Escape key Leave this site

Skip to main content

Skip to main navigation

Welcome

This site is a beta, which means it's a work in progress and we'll be adding more to it over the next few weeks. Your feedback helps us make things better, so please let us know what you think.

Show me the site

Greater Manchester Police logo

Search this website

Main navigation menu

  • Report

    Back to Report

    • Crime
    • Domestic abuse
    • Rape, sexual assault and other sexual offences
    • Road traffic incident
    • Report antisocial behaviour
    • Missing person
    • Fraud, bribery or corruption
    • Civil disputes
    • Lost or found property
    • Lost or stolen vehicles
  • Tell us about

    Back to Tell us about

    • Tell us about possible terrorist activity
    • How to tell us about something you've seen or heard
    • An existing case or report
    • A procession or event you are planning
    • Filming
    • Abnormal vehicle load
  • Apply or register

    Back to Apply or register

    • Careers
    • Charity collection licences
    • Compensation for victims of crime
    • Firearm, shotgun or explosives certificate
    • Attend a misconduct hearing
  • Request

    Back to Request

    • Your fingerprints
    • Information: about the police, about yourself or someone else
  • Thanks and complaints

    Back to Thanks and complaints

    • Complaints
    • Say thanks
    • Feedback about the website
  • Your area

Breadcrumb

  1. ...
  2. News

Millions returned to victims after GMP rumble crypto-currency scam

Main article content

Navigation

News

18:46 18/02/2022

Over four million pounds has been returned to rightful owners following an international crypto-currency scam rumbled by officers from GMP six months ago, with millions still yet to be claimed.

A sum of $22.25 million (equivalent to just over £16 million) was seized by specialist officers from Greater Manchester Police's Economic Crime Unit in July 2021, after intelligence led to the discovery of USB sticks containing huge amounts of Ethereum, the second largest Crypto-currency after BitCoin.

A total of 150 victims from all over the world contacted officers in the unit following the scam-bust which saw millions of pounds invested in a fake savings and trading service.

Over four million pounds has been returned to 23 verified victims and another 127 reported claims are currently being investigated by officers alongside partners in international law enforcement across the globe - leaving another seven million pounds to be returned to rightful owners.

Victims based in the UK, United States, Europe, China, Australia and Hong Kong had deposited money, including life savings, into what they thought was an online savings and trading service using Binance Smart Chain, which stores and records transactions made in crypto-currency confirming their movement and value.

The scammers operating the service waited until a significant amount of money had been deposited, before shutting down their website and transferring the funds into their own accounts. Unfortunately for them, the scammers did not disappear without trace.

Specialist officers received intelligence that those running the scheme had been in Manchester for a limited time and tracked them down, recovering an encrypted USB stick containing $9.5 million of stolen Ethereum.

A 23-year-old male and a 25-year-old female were arrested for fraud and money laundering offences. They have since been released under investigation pending further enquiries.

They found a further $12.7million a few days later after locating a Cryptograph safety deposit box, effectively an online safe, and the code to access it.

Detective Chief Inspector Joe Harrop, from GMP's Economic and Cyber Crime unit, said: "Crypto-currency saving and trading services are becoming increasingly popular, with projects offering incentives to people to invest significant amounts of money, offering tokens that can then be sold for a profit.

"Our lives are now online or on our phones, and currencies like Bitcoin and Ethereum are often seen as the future when it comes to money and trading.

"However, this type of crime is increasing across the globe and criminals are getting savvier by finding ways to exploit the trend, in ways even the most experienced users can't anticipate. The Economic and Cyber Crime Unit are working on a daily basis to tackle these growing number of cases in the digital and online world.

"Anyone involved in these Crypto-currency and trading services are urged to take extreme caution and do a lot of research as there are still huge risks. Online currency and trading is incredibly technical and need in-depth knowledge in order to make sure your money is safe. If it seems too good to be true, it probably is.

"Thankfully, we've returned over four million pounds to 23 individual victims and we're continuing to work through a large number of other reported claims where we can hopefully return even more money.

"We believe there may still be victims out there from all over the world who are owed some of this money we rumbled half a year ago. Anyone who thinks they may have been affected by this particular scam is asked to email [email protected]."
Anyone affected by this particular scam should get in touch using the above email with the following details:

  • The name of the savings and trading service invested in
  • The name of the law enforcement you reported the crime to, and officer details
  • Wallet addresses and documentation to prove ownership

Follow @GMPFraud on Twitter to keep up to date with the latest information on digital and online scams.

 

Share

Is there a problem with this page?

Footer navigation

We use cookies on this site to give you a better, more personalised experience.

I'm fine with cookies I'd like to manage the cookies

Greater Manchester Police

  • Contact us
  • Find a police station
  • News
  • Careers
  • About us
  • Campaigns
  • Privacy notice
  • Cookies
  • Terms and conditions
  • Accessibility

Information and services

  • Advice and information
  • Crime prevention
  • Stats and data
  • Accessing information (FOI)
  • Report
  • Tell us about
  • Apply or register
  • Request
  • Thanks and complaints

Partners

  • Partner services
  • Police.uk
  • Ask the Police
  • The Mayor of Greater Manchester
  • Greater Manchester Combined Authority (GMCA)

Follow us on

© Copyright 2023. All rights reserved.