Paphos man loses over €77,600 in two linked cryptocurrency scams
A 61-year-old man from Paphos has been defrauded of more than €77,600 through two connected cryptocurrency scams, according to police reports. The man initially responded to a social media advertisement in mid-February and transferred €6,200 to an unknown digital wallet based on instructions from an English-speaking scammer. After seeing supposed profits, he was asked to pay additional fees and, suspecting fraud, cut contact.
Subsequently, he was approached by two Greek-speaking individuals claiming to recover lost funds. Over several months, he transferred more money for supposed fees and taxes related to the recovery, but never received any returns. The total losses reported exceed €77,600.
The Paphos CID financial crime investigation office is currently investigating the case. Police have warned the public to exercise extreme caution with online investment offers, avoid unsolicited contacts, and only engage with authorized financial institutions to prevent falling victim to similar scams.
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