UK Police said they are investigating a case in which thieves stole around €2.1 million ($2.8 million) worth of bitcoin. The fraudster posed as a senior UK police officer and persuaded the victim to hand over their wallet’s seed phrase through a phishing website.
A seed phrase, typically 12 to 24 words, acts as the master key to a self-custodied wallet. Whoever obtains it gains full control of the digital assets.
According to police, the scammer told the victim that a suspect in custody had their identification documents stored on a phone. To “protect” their funds, the victim was instructed to enter their recovery phrase on a fake site. Within minutes, the attackers accessed the wallet and drained it.
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UK Police: No Officer Will Ever Ask for a Seed Phrase
Police stressed that officers will never contact members of the public about their cryptocurrency holdings or ask them to take action with cold-storage wallets. They added that no legitimate agency or business will ever request a seed phrase. Instead, people who receive such calls are advised to hang up and confirm the matter by dialing the non-emergency 101 number.
These kinds of social engineering schemes, where scammers trick victims into giving away wallet credentials, remain widespread in the crypto space. According to blockchain security firm TRM Labs, thefts involving private keys and seed phrases accounted for 80% of stolen funds in the first half of 2025.
Alongside online scams, Europe has also seen a rise in physical attacks targeting crypto holders. In France alone, authorities have recorded at least 10 so-called “wrench attacks,” including attempted kidnappings and ransom demands involving cryptocurrency.
