Man loses more than €1m as gardaí reveal 'colossal jump' in crypto fraud

The West of Ireland native is just one of 234 people who reported investment fraud to gardaí in 2021

The €1 million he lost is among €12.4 million stolen in cryptocurrency investment fraud cases reported to gardaí last year. File photo

A man in the West of Ireland has been duped out of more than €1 million in a cryptocurrency investment fraud.

The Central Bank has issued a fresh warning about investing in cryptocurrency as officers in the Garda National Economic Crime Bureau investigate the case. The man was one of 234 people who made reports to gardaí in 2021 about investment fraud – up from just 50 reports in 2019.