A 66-year-old man in Paphos has reported losing nearly €90,000 in an alleged online investment fraud case involving cryptocurrency platforms. The complaint was filed yesterday with the Paphos Criminal Investigation Department.
According to the report, the man was persuaded by unknown individuals to make what were presented as cryptocurrency investments over a six-month period in 2025.
Complaint and financial transfers
Based on the complainant’s statement, unknown persons contacted him through various online communication platforms between May and November 2025. They allegedly convinced him to proceed with purported investments in cryptocurrencies.
Following the suspects’ instructions, the 66-year-old transferred a total of €89,816 through bank transfers to a cryptocurrency platform, where the suspects had created an account on his behalf.
In November, after losing all communication with the individuals involved and access to the accounts that had been set up for him, he suspected that he had been defrauded.
The case is being investigated by the Financial Crime Investigation Office of the Paphos Criminal Investigation Department.
Police warning to the public
On the occasion of this latest complaint, the Police urge the public to exercise caution when conducting transactions and investments online. Citizens are advised to cooperate only with recognised companies and approved advisers for any financial investments.
It is further stressed that bank account and card details, login credentials for online and email accounts, as well as other personal data, must be protected and never disclosed to any persons.