Limassol Resident Loses Nearly 430,000 Euros to Cryptocurrency Scammers

A Limassol resident has lost 430,000 euros in a cryptocurrency scam. The perpetrators posed as representatives of a trusted investment platform, promising returns of up to $1.5 million.

According to the police, after the man granted access to his digital wallet, the scammers transferred funds from his account. In January 2025, they demanded another payment to "unlock" the promised profits. However, the victim refused and reported the fraud to the police.

Authorities are warning the public to exercise extreme caution when investing in cryptocurrencies, as the number of scams has significantly risen between June 2024 and February 2025. They remind people that such investments are highly risky and can lead to substantial financial losses.