Japanese police have arrested two individuals suspected of impersonating police officers to fraudulently obtain about 81 million yen in crypto assets.

Japanese police have arrested 31-year-old Saki Okayama and 38-year-old Mitsuki Minamisawa on suspicion of involvement in a scam in which criminals impersonated police officers to steal cryptocurrency, according to FNN. The victim, a woman in her 40s, was told by the fraud ring—claiming to be from Osaka Prefectural Police—that her bank card was tied to a money-laundering case involving ¥600 billion in losses and roughly 400 accounts, and was pressured to "prove her innocence." She ultimately lost crypto assets worth about ¥81 million (approximately $515,000).

How the Scheme Worked

The fraudsters leveraged the authority of a police identity to create urgency, framing the victim as a suspect who needed to cooperate to clear her name. This type of social-engineering attack relies on fear and deference to authority rather than any technical exploit, which is why it can succeed even against people who hold crypto assets securely.

Broader Case and Suspected Masterminds

Police believe the ring's base of operations was in Cambodia. They have confirmed total losses linked to the case at about ¥240 million. The person believed to be directing the operation is thought to be of Chinese nationality, according to the report.

What to Watch

The arrests of Okayama and Minamisawa are a step toward dismantling a cross-border operation, but the suspected overseas base and the alleged behind-the-scenes organizer point to the difficulty of pursuing such cases across jurisdictions. For crypto holders, the case is a reminder that impersonation scams target access to assets through persuasion, not code—and that claims of police involvement should always be verified through official channels.