Tuesday, 6 July 2021

Abu Dhabi Police warns against offers to trade in “cryptocurrencies”

Abu Dhabi Police warned the public against the offers that reach many members of society during the recent period, which offer trading servi...

Cryptocurrency Fraud in UAE

Abu Dhabi Police warned the public against the offers that reach many members of society during the recent period, which offer trading services in "cryptocurrencies", calling on the public to be careful and not to be drawn into temptations and promises of quick and imaginary financial gains.

The Director of the Criminal Security Sector, Major General Muhammad Sohail Al-Rashidi, urged the public not to share their personal information or to submit to anonymous calls, messages and advertisements that often claim to be companies or platforms licensed to trade cryptocurrency, as part of the campaign “Be careful.”

He pointed out that some fraudsters are tempting customers to obtain large sums of money by trading encrypted digital currencies and by receiving money transfers from suspicious sources, stressing the need not to buy and trade this electronic currency, which is virtual units that are not covered by tangible assets, and do not need to be issued to any terms or conditions.

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