It is a great day for crypto justice as the Greater Manchester Police (GMP) has managed to track down stolen Ethereum tokens, BBC News reported. Twenty-three people have received their ETH back, amounting to £4m worth of assets.
The individuals fell victim to a cryptocurrency trading scam, along with other 150 people across various countries, such as the UK, US, China, Australia, and Hong Kong, who have deposited their money in good faith that the service provided was indeed a savings account, and who are not so lucky to have received their savings back.
The scammers behind the fake trading platform had been waiting to garner enough amount of money before shutting the whole platform down and fleeing with the proceeds.
The Manchester Police had received an echo that the stolen tokens were in the city and carried out a series of raids, during which they found a ledger with the stolen tokens. They identified and arrested two suspects, who have later been released but are still subject to further investigation.
While some victims of the scam were lucky enough to have their belongings returned, this is rarely the case with crypto scams. Manchester’s Executive Deputy Chief Joe Harrop urged possible other victims to notify the authorities. He also advised caution when it comes to easy money schemes: “If it seems too good to be true, it probably is."