The Cyprus Police has issued "red alerts" for novice crypto investors

The Republic of Cyprus Police has released recommendations for citizens planning to invest in cryptocurrency. The memo, titled "Red Alerts," contains six simple tips to help avoid financial losses.

The advice may seem basic at first glance, but it can help minimize risks and answer the question of how to safely exchange cryptocurrency in Cyprus.

In particular, the police advise carefully selecting a company for cryptocurrency exchange in Cyprus, not sharing passwords for electronic wallets and bank accounts with anyone, and not granting remote access to your computer.

The full list of tips from the Cyprus Police is as follows:

1. Know who you're dealing with. Companies should be recognized cryptocurrency exchanges.
2. Never share passwords for electronic wallets and bank accounts with anyone.
3. Do not provide remote access to your computer to anyone.
4. Remember that cryptocurrency investments carry risks and a high probability of financial loss.
5. Enhance the security settings of your accounts on cryptocurrency exchanges (ideally, this should include two-factor authentication).
6. Be cautious: do not trust those promising high profits and consult with experts.

You can contact the Cyprus Police Cybercrime Department via the website www.cyberalert.cy or by phone at 22-808200.