A Limassol Resident Gave Fraudsters $58,000 Under the Guise of Cryptocurrency Investments

In Cyprus, the police are investigating a new case of cyber fraud: a Limassol resident gave fraudsters $58,000, intending to make a profitable investment in cryptocurrency.

According to the police, a 50-year-old man reported that during an online search, he came across a website promoting lucrative investments with the aim of making a profit. In December, the victim "invested" $58,000 in cryptocurrency.

When the man tried to collect the expected profits, he was instead asked for additional funds in order to withdraw his money, but as a result, he was unable to recover either the invested money or the expected profits.

Realizing he had fallen victim to fraudsters, the victim reported the incident to the police. The Limassol Police Criminal Investigation Department is now investigating the case of fraud.

The police once again urge the public to exercise caution when responding to online promises of high returns from investments and recommend working only with trusted consultants.