Press Release
The Cyprus Police are informing the public about incidents of fraud related to cryptocurrency investments and are urging citizens to be particularly careful.
In a recent incident, a resident of Limassol fell victim to a scam and lost the amount of €430,000 in cryptocurrencies.
Specifically, between June 2024 and February 2025, the complainant gave access to his electronic wallet to unknown persons who claimed to represent a reliable investment platform.
The perpetrators then transferred the aforementioned amount of money in cryptocurrencies from his electronic wallet to other addresses.
In January 2025, while he had been promised guaranteed profits of $1.5 million, they asked him for additional money to unlock the profits, which the complainant did not do.
The Cyber Crime Unit is continuing to investigate
Advice to the public
Special attention is important when dealing with such forms of investment, to protect both your money and your privacy, avoiding the common traps in the world of cryptocurrencies.
- Know who you are dealing with. Companies should be recognized cryptocurrency exchanges.
- Do not disclose access codes to electronic wallets or electronic bank accounts.
- Do not give access to anyone through remote connection to your computer for such a purpose.
- Keep in mind that such investments contain risks and a high risk of losing money.
- Increase the security settings on your accounts at cryptocurrency exchanges (two-factor authorization).
- Be suspicious of promises made about large profits and always consult experts.
