£250,000 lost in devastating crypto scam targeting Northern Ireland woman in her 70s
- Love Ballymena
- 4 minutes ago
- 3 min read
A woman in her 70s has lost more than £250,000 after being drawn into what she believed was a legitimate cryptocurrency investment scheme, prompting a stark warning from police over the growing threat of online financial fraud.
The victim, from Newry, was persuaded over time to hand over increasingly large sums of money to criminals after initially making what appeared to be a small investment.
Police say the fraud escalated after the woman unknowingly downloaded malware onto her electronic devices at the direction of the scammers, allowing them to gain access to her accounts and transfer further funds.
Detectives say the case highlights the devastating financial and emotional impact fraud can have — particularly on older people who are being aggressively targeted by sophisticated online criminals.
Police reveal scale of life-changing loss
Detective Inspector Moffett, from the PSNI’s Serious Crime Branch, said officers received the report on Thursday, 21 May.
He said the woman had invested in what she believed was a cryptocurrency opportunity after seeing it advertised online.
“After initially sending a relatively small amount, the woman then ‘invested’ larger amounts on a number of occasions after the criminals convinced her that she needed to send more in order to get her initial investment back,” he explained.
“After she unknowingly downloaded malware at their instruction, they were able to gain control of her electronic devices and, we believe, transfer further sums from her account.
“Our investigation to date indicates that this woman has, unfortunately, lost upwards of £250,000.”
The case is one of the latest examples of increasingly complex investment and cryptocurrency frauds being used to target vulnerable victims across Northern Ireland.
Families urged to speak openly about fraud risks
Superintendent Joanne Gibson, Chair of the Scamwise Partnership, said conversations within families could play a vital role in protecting loved ones from becoming victims.
“The Police Service of Northern Ireland will use every available resource to protect individuals and communities from the harm caused by fraud and exploitation but I would also ask family members to take the time to have a conversation with their family members about fraud in order to try and safeguard them against criminals,” she said.
“We know that this type of crime can have a far-reaching impact, but we can all work together to protect and prevent this from happening to those we care about.
“Fraudsters can be extremely convincing and use a variety of scenarios to make people believe them to be genuine. They are master manipulators.”
Superintendent Gibson also urged people to act quickly if they become concerned about suspicious behaviour or unusual financial activity involving a loved one.
“If you are concerned by the intent of a person involved with someone you care about, you can report to police on the non-emergency number 101. We will listen and we will act. Any abuse of that trust will be treated with the utmost seriousness.”
Public urged to ‘Stop. Think Fraud.’
Police are reminding the public to remain cautious around unexpected investment opportunities, unsolicited contact, and pressure tactics designed to rush people into making payments.
The Scamwise campaign says people should follow three key steps before handing over money or personal information:
• Stop — before transferring money or sharing personal details with someone you do not know.
• Do not feel pressured by deadlines or urgent demands. Genuine organisations will give you time to make decisions.
• Think Fraud — verify who you are dealing with using trusted contact details or independent checks.
• If possible, confirm suspicious requests using another phone line and carry out reverse image searches on profile photos or adverts.
• If in doubt, do not transfer money or goods.
How to report suspected fraud
Anyone who receives suspicious calls, emails, text messages, or letters is being urged to report them immediately.
Suspected fraud can be reported through Report Fraud at:
Or by calling:
0300 123 2040
People can also contact PSNI on the non-emergency number 101.
Victims of fraud are urged to notify their bank immediately to help prevent further losses and protect accounts from additional criminal activity.
Fraud can also be reported online through PSNI at:
Additional information and advice is available through Scamwise NI at:
Suspicious text messages can also be forwarded free of charge to 7726.
The latest warning comes amid continuing concern over the rise of sophisticated online scams targeting older people, with criminals increasingly using fake investment platforms, cryptocurrency schemes and remote device access software to steal life savings within days.