Police are reminding people to be vigilant of online scams and think twice before sharing private information after a victim lost $320,000 of their life savings.

The scam involved investments in cryptocurrencies, such as bitcoin.

The company offered extremely good returns from a minimal investment.

The investment grew as more money was deposited, but soon began to decline.

The scammer then contacted the victim on numerous occasions to invest more funds, which they deposited via the website.

Senior Sergeant Paul Reeves warns that if an investment seems too good to be true, it probably is.

'Members of the public should seek advice before making any online investments they are unsure of.

'Scammers are extremely persistent and can seem very credible, as they are highly versed in their trade.”

Anyone who believes they have been a victim of a crime, in person or online, should report the matter to their local Police.

Visit this website for more information around cryptocurrency security.