The North Wales Police in the UK have disclosed a case of encryption fraud, where victims were induced to enter their Wallet mnemonic phrase on a phishing website after receiving a call impersonating a senior police officer, resulting in approximately 2.8 million dollars worth of Bitcoin being stolen. The scammers falsely claimed that the victim's information appeared on a suspect's phone and tricked them into providing the mnemonic phrase under the pretext of 'assisting in protecting assets', transferring the funds within minutes. The police emphasized that no institution will ask for the mnemonic phrase and reminded the public to be cautious of social engineering attacks. (TheBlock)