Politis

Elderly Man Loses €850,000 in Sophisticated Online Scam in Nicosia

Published January 18, 2026, 11:26
Elderly Man Loses €850,000 in Sophisticated Online Scam in Nicosia

A 63-year-old man in Nicosia fell victim to a scam and lost €850,000 over two years. According to his complaint, unknown individuals he met online, posing as representatives of investment companies, convinced him to make repeated cryptocurrency transfers, bank transfers, and cryptocurrency purchases. The 63-year-old realized the fraud when the perpetrators cut off all communication with him. The case is being investigated by the Nicosia TAE, which is trying to identify and arrest the perpetrators.