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The United Kingdom Police Department returns $5.4 million to victims of cryptocurrency fraud

Greater Manchester Police (GMP) in the United Kingdom announced on Friday that about $5.4 million of funds were recovered from an international cryptocurrency scam rumbled by its investigators. In July last year, the fund was returned to its rightful owners. Four million pounds have been returned to 23 people who have been proven to be victims. Officers working with international law enforcement partners are now looking into 127 more claims that have been made.

According to the police, “Another seven million pounds will be returned to their rightful owners.” The announcement, on the other hand, doesn’t say whether the victims will get cryptocurrency or real money from the police.

The police officials also added that crypto investors from the United Kingdom, the United States, Europe, China, Australia, and Hong Kong put money, including life savings, into what they believed was an online savings and trading service using Binance Smart Chain. The crooks, however, shut down the scheme’s website and moved the money into their own accounts.

Police arrested a 23-year-old man and a 25-year-old woman because they were suspected of fraud and money laundering, but they were released while they were being investigated.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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