Paphos police investigate major cryptocurrency investment fraud

On September 5, 2026, a 61-year-old man filed a formal complaint with the Paphos Criminal Investigation Department (TAE) regarding a significant cryptocurrency investment fraud. The victim reported that in mid-February 2026, he encountered a social media advertisement for crypto investments and subsequently contacted an English-speaking woman via a mobile application. Following her instructions, he transferred 6,200 euros from his bank account into a digital wallet for investment purposes. He monitored the supposed growth of his funds through a provided link.

When the victim attempted to withdraw his profits, the perpetrators demanded an additional payment of 3,222 euros. Suspecting a scam, he ceased communication, but was targeted again in March 2026 by two individuals speaking Greek. While initial reports cited a loss of 6,200 euros plus the requested fee, subsequent reports indicated that the total financial loss exceeds 77,600 euros. The Paphos police are currently investigating the matter as part of an ongoing effort to combat the rising trend of digital financial crimes. No arrests have been announced as the investigation continues.