Dubai police arrested six suspects on October 30 over a fraud case involving an unlicensed cryptocurrency exchange service. The victim lost 2.6 million dirhams, including two million in cash and 600,000 in digital assets. Two teams gathered evidence, searched for the suspects and traced transfers between wallets. Authorities said they had secured all the stolen cryptocurrencies but did not specify what happened to the cash. The case follows sanctions imposed by Dubai’s Virtual Assets Regulatory Authority on 19 companies operating without a license.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
