Luxury Lifestyle, Fake Police Websites, Blockchain Evidence Lead to Arrest of Two Nigerians, Accomplice in £4 Million UK Cryptocurrency Scam

Two Nigerians and their accomplice have been jailed in the United Kingdom after investigators used blockchain technology and financial intelligence to uncover a sophisticated cryptocurrency fraud that stole more than £4 million (about ₦7.4 billion) from eight victims.
The convicted men—Anthony Ikenwe, 29, Kevin Nwamma, 25, and Hamza Bashir, 23—were sentenced after being found guilty of operating an elaborate scheme in which they impersonated police officers and used fake police websites to deceive victims into handing over their cryptocurrency.
According to the Metropolitan Police, the fraudsters contacted victims by telephone, falsely claiming their cryptocurrency accounts had been compromised. They convinced the victims to either disclose sensitive account information or transfer their digital assets into what they believed were secure police-controlled accounts. Instead, the cryptocurrency was immediately stolen and laundered through a complex financial network.
The investigation began in January 2025 after several victims reported the scam. Detectives combined blockchain analysis, communications data, financial records, cryptocurrency exchange information and internet service provider records to trace the movement of the stolen digital assets and link what initially appeared to be separate fraud cases to a single organised criminal network.
Investigators said the suspects’ extravagant spending also helped expose the operation. Despite having little or no legitimate source of income, the trio financed lavish lifestyles with the proceeds of the fraud, purchasing luxury vehicles, Rolex watches, designer clothing and funding expensive holidays to Thailand, Japan, Paris, Mykonos, the Maldives and the Seychelles.
Coordinated raids carried out across seven addresses in London and Essex on November 20, 2025, led to the arrest of the suspects. During the operation, officers seized about 40 mobile phones, cryptocurrency assets, luxury goods and other digital devices. Police also recovered approximately £1 million linked to the stolen funds, while investigators discovered nearly £500,000 in cash in a safety deposit box in Dubai and cryptocurrency used to purchase a vehicle worth almost £60,000.
At Southwark Crown Court, Ikenwe and Nwamma were each sentenced to six years’ imprisonment for conspiracy to commit fraud and five years for money laundering, with both sentences to run concurrently. Bashir received three years and nine months for conspiracy to commit fraud and three years for money laundering, also to run concurrently.
Detective Inspector Geoff Donoghue of the Metropolitan Police’s Cryptocurrency Team described the case as a highly complex investigation and said the convictions demonstrate that law enforcement agencies now have the capability to trace cryptocurrency transactions, dismantle sophisticated criminal networks and recover proceeds of crime.
The Metropolitan Police said investigations are continuing with UK and international partners to identify other individuals connected to the fraud and recover additional assets for the victims.

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