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Police Warn of Surging Crypto Investment Scams as New Cases Top €1 Million in Losses

Authorities urge immediate reporting because funds are quickly routed to foreign accounts.

Overview

  • In the Ravensburg district, a pensioner transferred more than €1 million to fraudsters after weeks of contact with fake advisers, according to regional reports.
  • Police in Flensburg said a 56-year-old from Husum lost over €500,000 to a cybertrading scheme promising rapid cryptocurrency gains.
  • Investigators said the Husum victim was lured by a small initial stake and then pressed to pay bogus exchange and payout fees.
  • In Telfs, Austria, an 80-year-old sent a mid-five-figure sum before a bank adviser flagged a new transfer and stopped it along with two pending payments.
  • Police describe a persistent pattern of online ads, professional-sounding pitches, and escalating payment demands, and they warn recovery is often only possible when cases are reported without delay.