Police in Thesprotia, Greece, are investigating a major crypto fraud scheme involving hundreds of thousands of euros following a complaint filed with the Igoumenitsa Security Sub-Directorate.
A 78-year-old resident of Parapotamos, Thesprotia, reported that he fell victim to scammers who managed to siphon off €300,000 ($350,000) in a series of gradual transfers.
The Timeline of the Scam
The fraud unfolded over sixteen months, beginning in February 2025 and continuing through June 2026. The perpetrators approached the elderly man promising guaranteed, high-yield returns through offshore cryptocurrency investment schemes.
Posing as representatives of a foreign-based investment firm, the scammers built trust with the victim, convincing him that his money was secure. Through this deception, they persuaded the 78-year-old to make consecutive wire transfers totaling €300,000 before he realized he had been duped.
A case file for grand fraud against unknown perpetrators has been opened. The investigation is actively being conducted by the Igoumenitsa Sub-Directorate for the Prosecution and Investigation of Crimes.
A Growing Global Trend
The victim’s ordeal in Thesprotia mirrors a sharp global surge in cryptocurrency-related investment fraud targeting older demographics.
Commonly referred to as “pig butchering” or high-yield investment scams, international networks systematically manipulate victims into transferring their life savings to fake, offshore trading platforms.
According to law enforcement data, including FBI Internet Crime reports, seniors bear the brunt of these financial crimes globally; in recent years, adults aged 60 and older have lost billions annually to fake crypto schemes, with individual losses routinely exceeding six figures due to repeated, gradual payments.
Related: Greek Student Arrested in Las Vegas on $500,000 Bitcoin Scam Charges
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