Five arrested on suspicion of crypto scams that may have cost victims millions

How can you be sure a crypto scheme is genuine?

There are some steps you can take to protect yourself if you are considering investing in cryptocurrencies.

The Met Police recommends conducting "thorough research" before parting with your money.

It also suggests checking the Financial Conduct Authority's (FCA) warning list.

That is a list of companies that are not allowed to operate in the UK and includes crypto companies.

The Met Police also shared five tips in its Little Book of Crypto Crime:

1. Don't be rushed into decisions: make sure you understand what you're buying and where you're buying it from.

2. If it sounds too good to be true, it probably is: taglines that promise guaranteed returns or consistent profit should be treated with caution.

3. Don't advertise how much crypto you have, just as you wouldn't advertise traditional wealth because it can make you a target for criminals.

4. Be wary of unsolicited contact and don't click on unsolicited links: login directly on sites rather than through links that are sent to you.

5. Check for subtle differences in web addresses, email addresses and contact numbers. Always check wallet addresses before transferring crypto.