Activate the yeast by mixing it in a bowl with the warm water, sugar and corn flour. Leave to stand for 5 minutes. (Tip: Water should not be too hot otherwise you risk ‘killing’ the yeast).
Slowly add the rest of the ingredients to the bowl, stirring well.
Cover with a damp tea towel and set aside to prove in a warm place for at least 45 minutes.
With a tablespoon, spoon out some of the dough into the hot oil (the oil must be really piping hot at 190 degrees). Rinse the spoon in a glass of oil between each dough drop so it slips nicely in the pan.
Repeat this procedure until the surface of the pan is comfortably filled.
Cook the doughnuts in batches, turning them over until a deep golden brown. Lift them out with a slotted spoon and place them on some kitchen paper to drain briefly. Repeat with the rest of the dough.
Wait for the loukoumades to cool before drizzling in honey sprinkled with cinnamon. Garnish with chopped walnuts.
If you are in the mood for some chocolate, replace the honey with chocolate sauce and/or accompany them with a scoop of your favourite ice cream (or frozen Greek yogurt).