Philenews

Mammoth Fraud: €850,000 Extorted from 63-Year-Old – Thought He Was Investing in Cryptocurrencies

Published January 18, 2026, 10:14
Mammoth Fraud: €850,000 Extorted from 63-Year-Old – Thought He Was Investing in Cryptocurrencies

A 63-year-old man reported to the Police that he fell victim to an online fraud, losing over €850,000. The perpetrators, posing as representatives of investment companies, convinced him to make repeated cryptocurrency transfers and bank remittances, as well as to purchase cryptocurrencies. The man realized the fraud when the perpetrators cut off all communication with him. The Limassol TAE is investigating the case.