Cyprus Police Investigate $448,000 Crypto Theft After Email Hack

Cyprus authorities are probing the theft of $448,000 in digital assets from a local investor's wallet, marking another case of crypto vulnerability to cybercrime. The breach occurred on June 11 when hackers compromised the victim's email account to access wallet credentials, with funds rapidly transferred to an external address.

Law enforcement officials emphasize the near-impossibility of recovering stolen cryptocurrency once transferred. The incident underscores persistent security challenges in digital asset ownership, despite blockchain's immutable transaction records.

Security experts reiterate standard precautions: complex unique passwords and mandatory two-factor authentication. This theft follows a familiar pattern of email-based attacks targeting crypto holders, rather than exploiting blockchain vulnerabilities directly.