Japan Arrests Two Suspects in Fake Police Crypto Scam Worth $515,000

Japanese authorities have arrested two individuals suspected of involvement in a fake police cryptocurrency scam that allegedly netted the victims around $515,000. According to reports, the suspects, Saki Okayama and Mitsuki Minamisawa, participated in a larger organization that operated from Cambodia.

The scheme began with a telephone call from a man claiming to represent the Osaka Prefectural Police, who told the victim her bank card was linked to a large money laundering investigation. The caller then claimed she was close to being arrested and needed to 'prove her innocence' by transferring cryptocurrency.

Police believe the group impersonated Japanese police officers to pressure victims into transferring assets. Investigators have not publicly identified the cryptocurrencies involved or disclosed the wallet addresses that received the assets.

The Tokyo Metropolitan Police Department suspects Okayama and Minamisawa participated in a larger organization with known losses from fraud cases reaching approximately 240 million yen, according to FNN reporting.