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A 77-year-old man in Cyprus has been left devastated after falling victim to a sophisticated online scam that cost him a staggering €142,000, police said on Friday.
The pensioner told authorities he came across an online ad back in June 2024 promoting what looked like a promising investment opportunity. After going through a standard-looking sign-up process, he was contacted by people claiming to represent the platform, allegedly calling from abroad, who convinced him it was a legitimate and safe way to grow his money.
Over the next five months, from September 2024 to February 2025, he ended up making 27 separate transactions, wiring funds to multiple overseas bank accounts. By the time he realized something wasn’t right, his life savings were gone.
Police are investigating the case, which is being handled by the Nicosia Crime Investigation Department.
In the wake of this incident, authorities are warning the public to stay alert and skeptical when it comes to online investment schemes. “Always verify the legitimacy of a platform before transferring any money,” the police said in a statement, adding that slick websites and convincing sales pitches don’t guarantee authenticity.
Online scams continue to evolve, often targeting the elderly or those less familiar with digital traps. This latest case is a harsh reminder that if an offer seems too good to be true, it probably is.
