CROWDFUNDINSIDER · 2026-11-01 20:01 UTC

Dubai Police Dismantle Criminal Ring in AED 2.6 Million Cryptocurrency Fraud

Dubai Police arrested six individuals in a cryptocurrency fraud scheme involving AED 2.6 million ($708,000) stolen from a victim who attempted to purchase crypto through an unlicensed exchange. Suspects transferred virtual assets to decentralized wallets and seized AED 2 million in cash plus AED 600,000 in cryptocurrencies before fleeing. Police recovered the full amount using blockchain analysis and traditional investigation, making arrests in record time; authorities warned residents against unverified crypto brokers and unlicensed exchanges.

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