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Detectives say a London-based cryptocurrency investment scam used convincing fake trading websites and boiler-room tactics to pressure victims into buying worthless tokens; five suspects were arrested and victims may have lost more than $1.3 million in total.
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Five suspects arrested in London on suspicion of conspiracy to commit fraud
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Police link multiple fake trading sites to one network; most sites are now defunct except one still active
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Action Fraud reports: nearly 50,000 calls and 9,000 web chats in September 2025; YTD 308,000 fraud reports totaling over $3.3 billion
Cryptocurrency investment scam: London arrests five after fake trading sites linked to $1.3M losses; learn how these schemes work and protect your assets — COINOTAG
By COINOTAG | Published: Oct. 3, 2025 | Updated: Oct. 16, 2025
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What is a cryptocurrency investment scam?
A cryptocurrency investment scam is a fraudulent scheme that uses fake trading platforms, false endorsements and high-pressure selling to get victims to invest in digital tokens. Law enforcement says these operations often combine professional-looking websites with follow-up calls from boiler-room operators to extract funds that cannot be recovered.
Fake trading platforms mimic legitimate exchanges with polished design, fabricated performance data and fake testimonials. In the London case, detectives said operators ran a boiler-room model: cold calls or follow-ups pushed victims to add funds into tokens that were never intended to be listed on legitimate exchanges. Detective Sergeant Stephen Bourne of the Metropolitan Police Service said, “These websites are highly convincing and use professional-looking content, fake endorsements and aggressive marketing tactics to lure people in.” Police allege victims worldwide lost more than $1.3 million (£1 million) and tied multiple domain names and sites — including DTX Exchange, Intel Markets, Cryptids, Algo Tech Trades and Unilabs Finance — to the same network. Most of those sites are now defunct; Unilabs Finance remained active at the time of the police statement and claimed to manage $30 million in assets.
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Frequently Asked Questions
How can I check if a crypto trading site is a scam?
Verify regulatory registration with local authorities, confirm whether the token is listed on reputable exchanges, check independent reviews and watch for unrealistic returns. Be wary of unsolicited calls, high-pressure tactics and sites that refuse to provide verifiable company information or proof of custody for client funds.
Who was arrested in the London crypto scam?
Five men, aged between 21 and 37, were detained by the Metropolitan Police’s economic crime team on Oct. 1, 2025 on suspicion of conspiracy to commit fraud. They were released on bail pending further investigation while detectives continue to trace victims and assets.
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Key Takeaways
- Criminal method: Fake trading websites + boiler-room follow-up calls to pressurise victims into buying worthless tokens.
- Scale and impact: Police estimate over $1.3 million in direct losses tied to this network; Action Fraud reports indicate investment fraud accounts for large shares of annual losses.
- Practical action: Verify platform credentials, avoid unsolicited investment offers, keep detailed records and report suspicious activity to local authorities and national fraud hotlines.
Conclusion
The Metropolitan Police investigation into a cryptocurrency investment scam demonstrates how sophisticated fake trading platforms and boiler-room tactics can cause significant financial harm. Official statistics from Action Fraud underline that investment fraud remains a major contributor to total losses. Readers should exercise heightened due diligence, report suspicious platforms and protect personal financial information. For ongoing coverage and safety guidance, follow COINOTAG updates and check official police or national fraud helpline statements.
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Source: https://en.coinotag.com/london-met-police-say-crypto-investment-scam-may-have-trapped-thousands-via-fake-trading-sites/
