Authorities in the UK have announced that 38-year-old Jake Lee and 42-year-old James Heppel have been sentenced to prison for a fraudulent scheme that cleverly duped crypto investors out of millions.

The pair created a counterfeit website, closely resembling the reputable Blockchain.com, to phish for victims' login details. Once obtained, Lee and Heppel drained cryptocurrencies from unsuspecting users' wallets.

The South West Regional Organised Crime Unit disclosed that the operation affected 55 individuals across 26 countries, highlighting the scam's global impact.

The investigation led to the seizure of a £60,000 Banksy print, three vehicles, and significant sums of crypto and fiat currency, totaling an impressive haul of £835,000 ($1.04 million).

"At the same time, our unit had started investigating a cryptocurrency scam reported by a Wiltshire victim..."

Lee's arrest in 2018 for money laundering initially seemed unrelated until further examination of his devices revealed his central role in the sophisticated domain spoofing fraud. The discovery prompted a more profound investigation that uncovered the extensive scam network and identified numerous victims.

Both men admitted their roles in the conspiracy to commit fraud and received their sentences last Friday. Lee, identified as a central figure in the operation, has been ordered to pay back £1 million to the victims.