- A top Dubai police officer said people in Dubai have lost Dh80 million
- He said investors in the UAE should always do due diligence before investing
According to a top Dubai police officer, people in Dubai have lost Dh80 million, in the first half of 2021 to crypto scams. This is around $21 million.
As per Tarek Mohammed, Head of the Digital Assets Crime Section at the Dubai Police GHQ, many cases have been reported to courts. Besides, he said that investors in the UAE should always do due diligence before making any decisions.
Tarek Mohammed noted:
When we tell this number to people, they say: is it really possible that Dh80 million was lost in the first half 2021? We need to safeguard ourselves. So always, always, always do due diligence with whom you deal with and work with.
“This is very important. There are great public resources on the Ministry of Economy website where you can have such information,” said Tarek Mohammed.
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This article was first published on coinquora.com