By SCM Staff Writer I Thursday, Oct 16, 2025
LONDON, UK – MET POLICE detectives have smashed a massive “boiler room” crypto fraud, arresting five men after thousands of victims were fleeced out of a staggering $1 MILLION-plus.
The ruthless gang used slick, professional-looking websites to lure in unsuspecting investors with the promise of guaranteed, double-your-money returns on new ‘pre-sale’ cryptocurrencies.
But cops say the so-called coins were worthless and the fraudsters had NO INTENTION of ever listing them on major exchanges.
The sophisticated scam—which promised a whopping 100 per cent or more back on investment—was operated out of a secret London base.
Cops believe the “boiler room” crew made aggressive follow-up calls to victims, pressuring them to pile even more cash into the worthless tokens.
Vanishing Act
The losses are believed to run into the MILLIONS across the capital and beyond.
The police swooped yesterday, arresting five men as part of the ongoing investigation by the Met Police’s Economic Crime team.
The websites used by the con artists include:
DTX Exchange: dtxexchange.com
Intel Markets: intelmarkets.io
Cryptids: cryptidsgame.io
Algo Tech Trades: algotech.trade
Unilabs Finance: unilabs.finance
Cops warned that some of the sites have been running under different names to duck detection, making them an even bigger risk.
’Almost Impossible to Recover’
Detective Sergeant Stephen Bourne warned the public: “These websites are highly convincing and use professional-looking content, fake endorsements and aggressive marketing tactics to lure people in.
”Once cryptocurrency is sent, it is almost impossible to recover.”
He stressed that the scam is believed to have hit victims “in every corner of the world.”
The Met is now urging the thousands of potential victims to come forward.
If you believe you have been stung by the scam, report it to Action Fraud immediately on 0300 123 2040.
COP WARNING: Always check the Financial Conduct Authority (FCA) warning list before parting with any cryptocurrency or cash.
