Cryptocurrency crime sparks all across the globe!
After the emergence of the world-shattering trend for cryptocurrencies, the opportunities for investment, returns on risk margin and the prosperity of financial sectors has progressed immensely. Not only that, many countries across the globe are also contemplating to replace their nation’s fiat currency with nation made cryptocurrency, such is the trend. As more and more opportunity is increasing for the users and investors in the crypto market, there has also been a negative trend that’s catching fire slowly but surely has the potential to burn the entire market down. The rise of crypto related crimes is taking considerable attention in the market and is causing a lot of stir in the market. Crypto crimes do not only include robbery of cryptocurrency, hacking, looting the money but there is a lot of dimensions to it. People who study crypto and advise investors about the return rates are being sabotaged for not being able to predict the nature of the currency.
An instance of an assault that took place in Dubai.
A crypto influencer/adviser was mishandled and assaulted by 6 investors, and caused a lot of physical and mental trauma to the consultant. According to the court of Dubai, the six defendants stole – Three expensive watches, a diamond ring worth Dh390,000 and cash worth $200,000. The victim exclaimed that, the defendants came to his house, made a ruckus and even punched me on my face bursting my eye and threatened to kill me. After all the mishandling, they took all my valuables and fled.
What exactly happened in the case?
The victim happens to work in a business that deals in cryptocurrency and has a wide knowledge about cryptocurrencies and the market. The defendants met him previously and asked him for advice on crypto coin called “Fantom.” After a successful stint in the first case, where they reaped good benefits based on my advice, they came with others asking me to guide them for another coin for investment. But this time the price of the coin fell. Since the investors were trying to recover their losses, they contacted the victim again. This time, victim told the investors about another coin and also joined the investors in investing in the coin. Unfortunately, the price of the coin dropped just after 15 mins of its launch and was hacked by a hacker which resulted in the value of the crypto coin worth 0 dollars. Following which the investors raged into his house and created a ruckus. The Dubai court held the people accountable and imprisoned them for 6 months and a fine of Dh1million and asked the officials to deport them.