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International Business Times UK
International Business Times UK
Politics
Akshay Puri

Elderly Woman Loses £250,000 Life Savings In Crypto Scam After Fraudsters Promised Big Returns

Police warn to stay vigilant online, verify investments, and discuss with trusted friends to spot warning signs and reduce fraud risk. (Credit: SHVETS production/Pexels.com)

An elderly woman has lost more than £250,000 after falling victim to a cryptocurrency scam that began with an online investment advertisement. The woman, who is in her 70s and lives in Newry, believed she was investing in a legitimate cryptocurrency scheme. Police said she ultimately lost what they described as her life savings.

The Police Service of Northern Ireland (PSNI) said it received a report about the fraud on 21 May and that investigations are ongoing. Officers have urged the public to exercise caution when considering investment opportunities promoted online and to seek independent advice before transferring money.

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