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Crypto Scam: 63-Year-Old Loses €850,000

Published January 18, 2026, 10:11
Crypto Scam: 63-Year-Old Loses €850,000

A 63-year-old man reported to the Police that he fell victim to an online scam and lost over €850,000 between February 2023 and December 2025. Unknown individuals, posing as investment advisors, persuaded him to make repeated transfers of cryptocurrencies and bank transfers. The man realized the scam when the perpetrators cut off all communication. The Nicosia TAE is investigating the case.