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UAE: Man defrauded of Dh200,000 in Bitcoin transaction – News

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Convicted Person Claims To Be Digital Currency Trader And Seizes Amount



published: Sunday, January 8, 2023 at 7:30 am

Last updated: Sunday, January 8, 2023 at 7:39 am

An Asian woman has seized Dh200,000 from an Arab investor who claimed to buy him digital currency. The Dubai Misdemeanors and Violations Court found her guilty and fined Dh20,000, in addition to having her fines seized.

In 2021, an investor reported that he had been scammed by an Asian woman. He said he met a woman who claimed to be selling bitcoin, and he expressed interest in investing in her.

The victim said he went to the woman’s office in International City and gave her Dh200,000 in exchange for bitcoin.

He said he had been waiting to be notified about the deal, but the woman said it was delayed due to a technical glitch.

The victim then left the office to wait out the next day. However, when the notification still didn’t arrive, he realized he had been scammed and filed a complaint.

A police officer involved in the investigation said the woman said she was asked to buy local currency in exchange for the money. The convicted person added that she had completed the transaction and wired the money to an account in her country,

However, the woman did not prove her claim, so she was referred to court on charges of fraud and breach of trust.

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