A resident of Larnaca lost 50,000 euros to crypto fraudsters: police are investigating the case

A resident of Larnaca reported to the Economic Crime Investigation Office (TAE Larnaca) that he had fallen victim to online fraudsters and lost 50,000 euros. This was stated in a police announcement.

According to the victim, between 24 July and 10 November 2025 unknown individuals contacted him via the internet, posing as brokers of an American investment company. They convinced the man that they would help him invest in profitable cryptocurrency projects through a special online platform.

The scammers provided an application where the alleged investments and “growing profits” were displayed, which ultimately convinced the man.

The man admitted that between 24 July and 27 October he transferred money seven times — a total of 50,000 euros — to foreign bank accounts provided to him by the “brokers”.

At the beginning of November, the victim attempted to withdraw his “profits”. He was then told that he had to pay an additional fee for the withdrawal of funds. After that, the man realized that he had fallen victim to fraud and contacted the police.

Police remind the public that fraudsters are increasingly using cryptocurrency schemes and urge citizens to exercise maximum caution.