Man in Paphos Loses Nearly €90,000 to Crypto Scammers

Paphos police are investigating a new case of online fraud after a 66-year-old man reported losing nearly 90,000 euros in a cryptocurrency investment scheme.

According to the victim, between May and November 2025, unknown individuals contacted him via various online messengers and persuaded him to invest money in allegedly lucrative cryptocurrency investments.

Following their instructions, the man transferred €89,816 via bank transfers to an account on a crypto platform that the scammers had set up for him.

Later, all communication with these individuals ceased entirely, and access to the accounts was blocked. It was then that the man realized he had fallen victim to a scam.

The investigation is being conducted by the Financial Crime Department of the Paphos Police.

Police have once again urged residents to be cautious with online investments and to deal only with licensed companies and financial advisors. Citizens are also reminded not to share bank details, passwords, or personal information with strangers.