Cyprus Mail

Cryptocurrency scam costs social media user €49,000

bitcoin bitcoins crypto money gold goldrain 1457461

Police on Tuesday said they are investigating an online scam after a 43-year-old Limassol resident reported he lost €49,000 in cryptocurrency investments.

The complainant said he contacted a person who was involved in investments to receive advice regarding cryptocurrencies early July.

The two exchanged messages through social media and agreed to create a digital wallet at specific trading platforms for the 43-year-old.

In five different occasions, the complainant was instructed to use his credit card and deposit money to the online accounts, with the total amounting to €49,000, he told police.

The scammer then asked him for more money before he would submit his alleged profit to him. Then, the 43-year-old decided to contact the man via phone, and realised that he had no connection to the social media profile or its user.

The economic crime investigation office at Limassol CID continues investigations.

Related Posts

Cyprus defence minister calls for stronger US naval presence in the Mediterranean during Economist conference

Sarah Ktisti

British tourist found unconscious in Paphos hotel pool

Sarah Ktisti

Zenobia diver taken to hospital for pulmonary edema following rescue

Sarah Ktisti

Gambling found to be popular with Cypriot women, national betting survey says

Sarah Ktisti

Undersecretary to president stable after emergency heart surgery

Sarah Ktisti

Potato farmers issue cry for help as costs continue to rise

Andrea Charalambous