Crypto Dream or Scam Nightmare? NCA Sounds Alarm on Rising UK Investment Fraud

The UK’s National Crime Agency (NCA) has launched its first nationwide campaign aimed at raising awareness about Crypto Investment Fraud, a crime that costs millions of pounds every year. The campaign specifically targets men under 45, the group most frequently victimized by crypto scams.

Crypto Investment Fraud typically involves scammers introducing members of the public to fake cryptocurrency platforms, persuading them to invest substantial sums of money. Victims are misled into believing their funds are growing rapidly, sometimes with claims of extraordinary returns in just a few months. In reality, the money is stolen, and victims are never true investors.

The campaign, delivered in partnership with the Home Office’s Stop! Think Fraud initiative, carries the strapline “Crypto Dream Scam Nightmare”. It emphasizes how the excitement of potential profits in cryptocurrency quickly turns into significant financial losses, often amounting to tens or even hundreds of thousands of pounds.

Data from Action Fraud highlights the scale of the problem. In 2024, over 17,000 reports of crypto investment fraud were submitted, with men aged 25 to 44 representing the majority of victims. The campaign includes a 60-second video telling the story of an anonymous victim who believed an investment of £28,000 had grown to £400,000, only to discover the funds had been stolen.

In addition to the video, the campaign provides an information sheet outlining practical tips to help the public identify and avoid crypto investment scams before money is lost. Key advice includes not responding to unsolicited approaches on social media or dating platforms, refusing offers to join “exclusive clubs” led by so-called finance “gurus,” being cautious of pressure to make additional investments, and not following instructions to keep investments secret from family or friends.

Nick Sharp, Deputy Director of Fraud at the NCA’s National Economic Crime Centre (NECC), said the campaign is part of a wider strategy to both disrupt criminal networks and prevent people from falling victim in the first place. He emphasized that awareness and vigilance are the public’s best defenses against crypto fraudsters.

The NCA encourages anyone interested in cryptocurrency investing to take note of the campaign’s ten tips and remain alert for signs of fraudulent activity. Campaign resources, including the information sheet, are available through the NECC and NCA social media channels on LinkedIn, Facebook, and Instagram.

BrokersView encourages victims to report fraud incidents for public exposure.