Newsroom
A 26-year-old man in Limassol has fallen victim to a cryptocurrency scam, losing over $110,000 in an alleged online investment fraud, according to a complaint filed with the police earlier today.
The man reported that the ordeal began in September when he joined a group on a cryptocurrency investment platform. While interacting within the group, a fellow member encouraged him to invest in a specific project, allegedly run by an organization. The group member even recommended that the 26-year-old contact the founder of the investment project directly.
After reaching out to the supposed founder, the man was convinced to invest. He subsequently made two cryptocurrency transfers, totaling $110,000, to a wallet provided by the individual. However, just two days later, he discovered that he had been removed from the investment group and could no longer contact either the group member or the founder. Realizing he had likely been scammed, he reported the matter to authorities.
The case is now under investigation by the Financial Crime Investigation Bureau and the Limassol CID. Police have urged the public to exercise caution when making online investments, especially in unverified platforms or projects.
Authorities recommend that anyone considering financial investments online should only work with reputable companies and licensed advisors. Personal information, including bank account details, passwords, and email credentials, should never be shared with unknown individuals.
The police stress the importance of vigilance in the face of such scams, which are becoming increasingly sophisticated and targeting individuals globally.
