Police are investigating a suspected cryptocurrency investment scam after a 41-year-old man reported losing $280,000 between September and November 2026.

According to police, the man came across an online advertisement for a company offering investment opportunities in cryptocurrencies.

He subsequently contacted an individual who presented himself as an investor and persuaded him to invest an initial $100,000 in September.

The man was later shown what appeared to be substantial profits from his investment, prompting him to deposit additional funds.

However, when he attempted to withdraw some of his money, those behind the alleged scheme began making excuses for not processing his request.

They also demanded further payments, claiming these were necessary to complete procedures for releasing his profits.

The 41-year-old eventually realised he had been scammed and reported the matter to police.

According to his complaint, he transferred a total of $280,000 between September and November 2026.

Police investigations are ongoing.