Overview

• The victim encountered a high-return cryptocurrency opportunity advertised on social media at the start of 2025.
• He communicated with alleged investment agents via a messaging app and made multiple transfers to supposed crypto accounts.
• No profits were ever distributed, prompting the man to report the incident to Augsburg police.
• Officials estimate his losses at just over €100,000 and say the perpetrators’ identities remain unknown.
• Authorities are investigating similar six-figure cryptocurrency frauds in Plauen and Zwickau after a string of cases targeting seniors.