Paphos. Police in Paphos, Cyprus, are investigating multiple cryptocurrency-related scams after victims reported losing money to online fraudsters posing as investment operators and crypto transaction helpers. The cases include a 66-year-old woman who said she lost more than €6,000 (around ₹6.62 lakh) after being drawn into a fake online investment programme, and a separate complaint from a 27-year-old woman who said she was defrauded of $12,000 (around ₹11.44 lakh).
Fake Investment Website Used To Lure Victim
According to the report, the 66-year-old woman came across a website in March that appeared to advertise an investment programme and created an account on it. Soon afterward, she was contacted through an online messaging application by a woman linked to the programme, who encouraged her to deposit money into a specific bank account.
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The victim initially deposited €250 (around ₹27,600) to open the account. The website then began showing profits against her account, a method commonly used by such schemes to build confidence and persuade victims to invest more money.
Withdrawal Attempt Led To Further Demands
Encouraged by the displayed returns, the woman sent another €4,245 (around ₹4.68 lakh). The situation changed in late May when she tried to withdraw money from the account. The fraudsters allegedly told her she needed to send more funds as tax fees on her investment earnings.
The woman then transferred €1,164 (around ₹1.28 lakh) and €989 (around ₹1.09 lakh) in separate transactions. Further demands raised suspicion, prompting her to conclude that she may have been cheated. The case is now being investigated by the Economic Crime Investigation Unit of the Paphos CID.
Separate Crypto Scam Also Under Probe
In another case from the Paphos region, a 27-year-old woman reported losing $12,000 (around ₹11.44 lakh) after unknown individuals she met in a social media group chat offered to help her resolve issues related to crypto transactions. According to the report, they used that contact to defraud her.
The woman realised something was wrong when she did not receive the agreed funds in her bank account and later reported the matter to police. The report also referred to other cases in the region, including an €89,816 (around ₹99.09 lakh) extortion case and a €6,500 (around ₹7.17 lakh) scam targeting a 77-year-old woman. Police in the region are investigating the cases.
