Dubai Court Orders Repayment in Cryptocurrency Fraud Case

Mar 11, 2026

70 min

Mar 11, 2026 02:30

Dubai court orders man to repay Dh1.29 million in cryptocurrency fraud case

## Court Ruling on Cryptocurrency Fraud

A Dubai court has mandated an Asian man to repay Dh1.29 million after being convicted of defrauding another individual in a cryptocurrency transaction. The court's decision follows a criminal conviction where the defendant was found guilty of using deceitful tactics to acquire digital assets from the victim.

## Details of the Fraud

The victim, who owned a cryptocurrency wallet, was approached by the defendant under the pretense of purchasing a significant amount of digital currency. The defendant, along with accomplices, orchestrated a scheme to gain the victim's trust by sending intermediaries to his workplace. These individuals, of Arab nationalities, were presented as representatives of the defendant to lend credibility to the transaction.

## Execution of the Scheme

After gaining the victim's confidence, the defendant met him and displayed a large sum of money to appear legitimate. The victim then transferred part of the cryptocurrency as an advance. However, the defendant did not fulfill the agreement and absconded with the digital assets.

## Legal Proceedings

The defendant was identified and arrested through surveillance footage. Prosecutors charged him with fraudulently seizing property valued at Dh1.291 million. The court fined him Dh10,000 and ordered him, along with his accomplices, to repay the defrauded amount. The claimant was initially fined Dh50,000 for operating a virtual asset service without a license, but this penalty was overturned on appeal, leading to a retrial.

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