The Met Police believes around 50 offences took place between October 2024 and March 2025.
In most of the cases, the suspects would arrange to meet the victims at their homes via the Grindr app.
Once inside, they would steal high value items including mobile phones.
Police also found that the suspects were watching victims closely as they typed in their phone PINs.
They then used distraction techniques to steal the phones and went on to make digital payments using the stolen information.
Superintendent Owen Renowden, who is leading the investigation, said:
“This is a series of pre-planned offences where unsuspecting victims have been targeted, often in their own homes, resulting in high-value items being taken.
“Due to the volume of these offences and the serious impact on the safety of both individuals and communities, we are treating them as potential hate crimes.”
Three people have been arrested so far.
A 22-year-old man from Potters Bar in Hertfordshire was arrested on April 3 on suspicion of burglary and fraud.
He has been charged and remains in custody.
Two other men, aged 27 and 28 from Harrow, have also been arrested on suspicion of burglary and are on bail as the investigation continues.
Supt Renowden added: “Our investigation is progressing at pace, but we believe there are a number of offences that have not yet been reported to us, so I urge anyone who may have been targeted, or may have crucial information that will help us with our enquiries, to contact us as soon as possible.
“I understand some people may be apprehensive about getting in touch with us, but I’d like to provide reassurance that all reports will be thoroughly investigated.
“We are working closely with our LGBT+ Independent Advisory Group and the LGBT+ anti-abuse charity, GALOP, to ensure we conduct our investigation with sensitivity and care.
“The Met Police is fully committed to ensuring all our communities in London feel safe, as well as continuing to enhance the trust and confidence LGBT+ people place in us.
“Organised crime has a devastating impact on society and your help will be key in helping us bring those responsible to justice.”
If you think you may have been targeted or have any information, call police on 101 quoting CAD 5090/15APR.