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30/04/26 06:05 UTC-04

China, the United States, and the UAE jointly entered the cryptocurrency market

As cryptocurrency fraud continues to rise, some of the world’s leading institutions have joined forces.

In this context, the United States, the United Arab Emirates, and China jointly carried out an operation to dismantle cryptocurrency fraud activities across nine centers.

The U.S. Department of Justice announced that as a result of an international joint operation conducted by Dubai police, at least nine cryptocurrency fraud centers were shut down and 276 individuals were arrested.

The operation involved the U.S. Federal Bureau of Investigation (FBI), China’s Ministry of Public Security, and the Royal Thai Police.

Of those detained, 275 were located in Dubai, while one individual was separately arrested by the Royal Thai Police.

Six individuals have been charged federally in the United States with fraud and money laundering, and if convicted, they face up to 20 years in prison and fines for each charge.

The investigation revealed that the suspects operated fake cryptocurrency investment platforms, deceiving victims and persuading them to invest money. The damages are estimated in the millions of dollars.

Andrew Tyasen Duva, Acting Assistant Attorney General of the U.S. Department of Justice, stated that fraud is a transnational crime and that international cooperation among law enforcement agencies is essential to eliminate it.

In addition to this operation, similar actions were carried out in Europe. Europol reported that in a joint investigation with Austrian and Albanian authorities, three fraud centers were shut down in Albania and 10 individuals were arrested.

See also: "U.S. seizes nearly $500M in crypto from Iran"

#United Arab Emirates #USA #China #crypto theft

Editor: Alyona Nabok
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