Alpha News

Elderly Man Scammed Out of Over €850,000 in Online Investment Fraud

Published January 18, 2026, 09:25

A 63-year-old man reported to the Police that he fell victim to an online scam between February 2023 and December 2025, resulting in a loss of over €850,000. According to the report, unknown individuals posing as representatives of investment companies through the internet convinced him to make repeated cryptocurrency transfers and bank remittances, as well as cryptocurrency purchases. Communication with the perpetrators ceased when the 63-year-old realized the fraud. The Police are investigating the case to identify and arrest the perpetrators.