Victim Loses $2.8 Million in Bitcoin Due to Social Engineering Scam

According to PANews, North Wales Police reported a victim lost approximately $2.8 million (around 2.1 million euros) in Bitcoin due to a social engineering attack. The scam involved fraudsters impersonating senior UK law enforcement officials, claiming the victim's identity appeared on a suspect's phone. They instructed the victim to 'protect' their assets via a fake website, leading to the theft of funds within minutes after the victim entered their wallet's mnemonic phrase. Police advise that law enforcement will not contact the public to discuss cryptocurrency holdings or request mnemonic phrases. Anyone receiving such calls should hang up immediately and verify by calling the non-emergency number 101. Blockchain security firm TRM Labs highlighted that in the first half of 2025, over 80% of stolen crypto assets resulted from private key and mnemonic phrase leaks. Additionally, Europe is experiencing a surge in physical attacks targeting crypto assets, with France reporting at least ten 'wrench attacks,' including attempted kidnappings and cryptocurrency ransom cases.