Scammers exploited a data leak in Kent, England, to steal $1.2 million from nine victims using fake police reports. Fraudsters accessed personal data and created counterfeit Action Fraud reports, then posed as law enforcement to trick victims into believing they were under investigation.

Victims received calls from fake “security officers” claiming to be from their crypto wallet provider, coercing them into revealing their seed phrases. This allowed scammers to access and drain their wallets. Authorities warn against sharing sensitive information over the phone.

Kent Police have urged affected individuals to report incidents without fear of embarrassment, emphasizing that scammers use urgency to manipulate victims. Detective Sergeant Darryll Paulson advised people to verify identities before acting on security-related claims.

To prevent further losses, crypto investors are reminded never to share their seed phrases and to remain vigilant against fraudulent schemes. Law enforcement continues investigating the breach and its impact on affected residents.

Olumide Osunkoya, the first person in the UK to be sentenced for operating illegal crypto ATMs, has been handed a four-year prison term. Osunkoya ran a network of unregistered crypto ATMs from December 2021 to March 2022, processing around $3.14 million. He avoided detection by transferring the machines to his personal name and even attempted to launder money through the operation. The Financial Conduct Authority (FCA) uncovered the scheme after an investigation that included the seizure of 30 machines in 2023.

The sentencing has been hailed as a landmark decision by the FCA, with Therese Chambers, its executive director, stating that it sends a strong warning to others engaging in similar unlawful activities. Osunkoya had not only run unregistered ATMs but also falsified documents to bypass anti-money laundering checks and possessed criminal property obtained from his illegal business activities. The authorities emphasized the high risks of dealing in crypto, which remains largely unregulated in the UK.

Osunkoya’s case comes amid broader efforts by UK regulators to crack down on illegal crypto operations. In 2023, the FCA, in collaboration with local police, conducted a nationwide sweep of unregistered crypto ATMs, resulting in the closure of many machines across the country. The regulator has been vigilant in ensuring crypto businesses comply with the necessary registration processes and in protecting consumers from potential fraud and illegal activities.

The FCA’s crackdown reflects growing concerns over the regulation of cryptocurrencies in the UK. Despite its decentralized nature, crypto continues to present regulatory challenges, especially regarding money laundering and fraud. Osunkoya’s case underscores the importance of compliance within the crypto industry and serves as a cautionary tale for those operating outside the legal framework.

Cryptocurrency markets experienced significant surges following President Donald Trump’s announcement of a U.S. strategic crypto reserve that includes Bitcoin (BTC), Ether (ETH), XRP, Solana (SOL), and Cardano (ADA). This declaration led to immediate price spikes, with XRP soaring over 30%, SOL increasing by 20%, and ADA jumping more than 50% within hours.
MARKETWATCH.COM

The total cryptocurrency market capitalization expanded by approximately 10%, adding over $300 billion, as investors reacted to the news. This surge underscores growing institutional interest in digital assets, particularly those highlighted by the President.
REUTERS.COM

On exchanges like Coinbase, XRP, SOL, and ADA traded at substantial premiums compared to other platforms, indicating heightened demand among U.S. investors. This trend reflects a robust appetite for these specific cryptocurrencies in the domestic market.
COINDESK.COM

President Trump’s evolving stance on cryptocurrencies, shifting from skepticism to active endorsement, marks a pivotal moment for the industry. The forthcoming White House crypto summit aims to further solidify the United States’ position in the global digital asset landscape.