77-year-old Greek Cypriot man loses €142,000 in online scam

A 77-year-old Greek Cypriot man has been left devastated after he lost around €142,000 after “investing” in a scheme advertised online that turned out to be a scam, police reported on Friday.

The pensioner told authorities he came across an online ad back in June 2024 promoting what looked like a promising investment opportunity. After going through a standard-looking sign-up process, he was contacted by people claiming to represent the platform, allegedly calling from abroad, who convinced him it was a legitimate and safe way to grow his money.

Following his registration with the scheme in June 2024, the 77-year-old allegedly received telephone calls from abroad convincing him of the validity of the investment platform.

Between September 2024 and February 2025, the man made a total of 27 transactions, sending money to various bank accounts abroad, resulting in a loss of €142,000.

The police are urging the public to be wary of any kind of online investment and to verify the credibility of the service provider before making any kind of transaction.

Their investigation into the matter is ongoing.