A man fell victim to a cryptocurrency scam and lost 430,000 euros , police said on Monday.

According to the authorities, the perpetrators posed as representatives of a reputable investment platform and promised high profits of up to 1.5 million dollars in a relatively short period of time.

After the man gave the scammers access to his (cold wallet), funds were withdrawn from his wallet.

In January 2025, the scammers demanded further payment to release the alleged winnings, but the man refused to pay and decided to report the incident to the police.

On Monday , police again warned of the increasing number of cryptocurrency-related fraud cases that were reported more frequently between June 2024 and February 2025.

They stressed that such investments involve considerable risk and can result in high losses.

Investors should ensure that they only invest with established companies and under no circumstances share passwords or access data to electronic wallets or bank accounts.

Particular caution is advised when exceptionally high profits are promised. It is also recommended to strengthen security measures on cryptocurrency exchanges with features such as two-factor authentication.


Archive: Crypto Scam



Source: Police report
Author: Editorial staff