Two Nigerian nationals and a third accomplice have been sentenced to a combined 28 years and nine months in prison for orchestrating a sophisticated cryptocurrency fraud that defrauded victims of nearly £5 million. The trio—Anthony Ikenwe, 29, Kevin Nwamma, 25, and Hamza Bashir, 23—were found guilty of conspiracy to commit fraud and money laundering after a lengthy investigation by the Metropolitan Police’s Cryptocurrency Team. The sentencing took place at Southwark Crown Court, marking a significant victory in the fight against cybercrime targeting digital assets.
The fraudsters posed as police officers and cryptocurrency company employees to deceive victims into believing their digital wallets had been compromised. They used this false narrative to trick individuals into revealing sensitive login details or transferring their cryptocurrency to accounts controlled by the group. Investigators discovered that the suspects obtained personal data from the dark web and created fake websites that closely mimicked legitimate crypto platforms to enhance their deception.
The operation was highly coordinated, with the fraudsters operating fraudulent technical support services and using real-time communication tools like Snapchat to direct each other during calls with victims. One recovered video showed a suspect speaking with a victim while receiving instructions from a co-conspirator, including a message that read: “Tell him to try with old pass.” This evidence played a crucial role in proving the group’s premeditated and organized nature.
The investigation, which began in January 2025, involved analyzing blockchain transactions, cryptocurrency exchange records, financial data, communication logs, and digital wallet activity. Authorities confirmed that at least eight victims lost nearly £5 million, though they believe the actual number of victims may be much higher. The proceeds were used to fund lavish lifestyles, including luxury holidays, designer watches, high-end vehicles, and shopping sprees at stores like Harrods.
Detective Inspector Geoff Donoghue of the Metropolitan Police’s Cryptocurrency Team described the case as complex and emphasized that criminals cannot rely on technology to hide their activities. He praised the team’s efforts in tracking digital footprints across multiple jurisdictions and platforms. Ikenwe and Nwamma each received six years for conspiracy to commit fraud and five years for money laundering, to be served concurrently. Bashir was sentenced to three years and nine months for fraud and three years for money laundering, also concurrent.
Following the convictions, police urged the public to remain vigilant against unsolicited calls about financial matters. They advised individuals to independently verify any claims with their bank or crypto provider before sharing personal information. This case serves as a stark reminder of the evolving threats in the digital space and the importance of public awareness in combating cybercrime.
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