Limassol man loses over €100,000 in online crypto scam

Police on Saturday called on members of the public not to trust people they meet online after a man from Limassol lost more than €108,000 after investing it in two cryptocurrency exchange platforms.

According to the police, the man reported that he was convinced towards the end of October by two women he met on social media to invest in two cryptocurrency exchange platforms.

He then transferred €108,000 in total to these platforms and, after seeing that he had profits, he tried to transfer the amount to his bank account but was not able to. He was then informed by the two platforms that not only were there no profits, but his accounts were tampered with by strangers, and the money was gone.

Following this new report of fraud, police once again urge the public to be very careful and not to trust strangers, especially those introducing themselves through social networking sites.

Police urged people who may be approached by strangers for similar investments to file complaints to the cybercrime unit at 22808200.