A Southwark Crown Court judge has sentenced two Nigerian nationals and an accomplice to a total of 28 years and nine months in prison for a complex £5 million cryptocurrency fraud. Anthony Ikenwe, Kevin Nwamma, and Hamza Bashir were convicted of money laundering and conspiracy to commit fraud.
The group targeted victims by posing as police officers or cryptocurrency company representatives, claiming that accounts had been compromised to trick individuals into handing over login credentials or moving assets into fraudulent accounts. To appear legitimate, they used stolen data from the dark web and built convincing fake websites.
Police discovered evidence of the operation, including a video clip showing a suspect receiving instructions via Snapchat while interacting with a victim. The stolen funds were used to support a lifestyle of luxury, including expensive cars, designer goods, and high-end vacations.
While eight victims have been identified as losing nearly £5 million, authorities suspect the total number of victims is much higher. The investigation, which began in early 2025, involved deep analysis of blockchain transactions and digital communication records.
Ikenwe and Nwamma were each sentenced to six years for fraud and five years for money laundering, served concurrently. Bashir received a concurrent sentence of three years and nine months for fraud and three years for money laundering. The Metropolitan Police noted that this case highlights their ability to track cybercriminals despite efforts to hide behind digital assets.
