
Sharjah police dismantle four crypto crime networks, seize $54M
- —Over 200 million dirhams (~$54 million) seized; $2.4 billion in suspected laundering under investigation
- —More than 3,000 crypto wallets examined; assets of 30+ firms worth $17.7 billion protected
- —33 people and entities, including six companies, referred to Sharjah criminal court
- —Investigation began with a crypto wallet held by a 15-year-old
Why it matters: The case highlights rising physical violence and money laundering in the UAE crypto sector and will intensify pressure for tighter regional regulation.
Source: Journal du Coin