Man arrested in Nicosia for defrauding €500,000 in cryptocurrency scam
A 25-year-old man was arrested in Nicosia on allegations of defrauding 18 individuals of over €500,000 through cryptocurrency investments, police announced on Friday. The suspect reportedly collected the money between June 15, 2025, and April 1, 2026. He appeared before court on the same day and was remanded for seven days as authorities continue investigating charges including suspected theft, money laundering, and violations of betting laws. The ongoing inquiry aims to uncover more details about the scheme and any potential accomplices involved.
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