Two men from Stamford Hill have been arrested as part of a major police probe into a multi-million-pound cryptocurrency scam, following a series of coordinated raids across Hackney.
The suspects, aged 24 and 36, were detained on Wednesday morning, 7 May, after officers from the Metropolitan Police’s Economic Crime Command executed search warrants at six residential properties.
The operation unfolded on Castlewood Road, a residential street known for its tight-knit Orthodox Jewish community. Images captured in the early hours showed Territorial Support Group officers unloading riot shields and tactical gear from police vans.
Castlewood Road in Stamford Hill, where officers raided homes as part of a £15m fraud investigation. Photo Credit: Google
A Met Police spokesperson confirmed: “Two men have been arrested as part of an investigation into a multi-million-pound fraud and money laundering scheme.
“It is alleged more than £15m in stolen funds was laundered through a set of shell companies.”
The arrests are part of Operation Galafarm, a long-running investigation into a cryptocurrency scam that allegedly targeted members of the public with false investment opportunities.
Both men remain in custody as enquiries continue.
