23 year old Hamza Bashir was part of a gang that tricked victims into handing over their crypto funds.
The group used fake police websites to steal and launder the money, funding luxury cars, shopping and holidays.
Detectives recovered around £1 million and seized digital devices and luxury goods in raids across London and Essex.
Detective Inspector Geoff Donoghue, from the Metropolitan Police’s Cryptocurrency Team, said:
“This was a highly complex investigation into a group of calculated manipulators who exploited victims’ trust by pretending to be police officers and spent other people’s money to fund their extravagant lifestyles.
“The Met’s Cryptocurrency Team painstakingly traced millions of pounds, combining a wide range of investigative techniques to dismantle a significant criminal network.
“Criminals should be under no illusion – policing is evolving alongside technology.
“We have the capabilities to trace and seize high-value assets, and we will do everything in our power to identify those responsible for these fraudulent crimes and bring them to justice.”
