North Wales Police has issued a warning to cryptocurrency holders after a victim lost £2.1 million in Bitcoin to what the force described as a “sophisticated” scam.

The warning comes at a time when Bitcoin has been under pressure in the market, with BTC/USD trending lower on the H1 chart along a descending trend line. The price appears to have found horizontal support around 112,800. A breakout below this level could add to downside momentum, while a bullish breakout above the trend line may attract intraday buyers.

Bitcoin Stolen via Fake Police Website

According to police, the criminals posed as senior UK officers and told the victim a false story about a security breach. The victim was informed that an arrested individual’s phone contained personal identification documents linked to them.

The scammers urged the victim to “secure their assets” by logging in through a provided link. The link led to a fake website. Believing it was genuine, the victim entered their password, as BBC reported.

Police said this allowed the criminals to access the wallet and steal the Bitcoin within moments.

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Police Warn of Targeted Bitcoin Scam

The force believes the victim may have been identified through a data breach, making the case highly targeted. Officers described the scam as an example of social engineering, designed to exploit fear and urgency.

North Wales Police said the theft highlights a disturbing new trend in which fraudsters use increasingly advanced methods to trick even careful holders.

The force confirmed it is working to trace the stolen funds but warned that the case shows how quickly scams can unfold. It has urged the public to remain cautious, trust their instincts, and follow its published guidance to reduce the risk of similar attacks.

BTC Faces Volatility Amid Profit-Taking Pressure

Ryan Lee, Chief Analyst at Bitget, expects Bitcoin to consolidate between $112K and $118K as profit-taking and cautious sentiment influence the market. Rising leverage in futures increases volatility , leaving BTC vulnerable to sharp swings.

Lee noted that macro factors, including Federal Reserve decisions, could affect price direction. Overall, the market balances optimism for potential rebounds with the risk of further corrections, reflecting both structural demand and heightened speculative exposure.