Cyprus Times

Man Scammed Out of €850,000 in Cryptocurrency Investment Fraud

Published January 18, 2026, 10:09
Man Scammed Out of €850,000 in Cryptocurrency Investment Fraud

A 63-year-old man reported to the Police that he fell victim to an online scam and lost over €850,000. The perpetrators, posing as representatives of investment companies, convinced him to make repeated cryptocurrency transfers and bank remittances, as well as to purchase cryptocurrencies. The man realized the fraud when the perpetrators cut off all communication with him. The case is being investigated by the Limassol TAE. Police remind the public to be particularly careful with online investments and to verify the credibility of companies before making any transactions.