The police in Dubai have arrested a man who has allegedly stolen Bitcoins from several people. Local sources reported that three citizens of Dubai were deceived by an alleged Bitcoin buyer. He pretended to want to buy the digital currency at a premium price.
According to police from the police in Dubai, the affected parties have granted the offender access to their Bitcoin Wallets. A time access to the wallet and over 100.00 USD in Bitcoin were stolen. Officials have expressed their concern about the nature of the crime. Salim bin Salmin, deputy director of the Cybercrime Department of the Dubai police, told the local 7DaysUAE news site. “It is hard to pursue this money. There is no legal framework and the citizens of the United Arab Emirates do not know about it or know how to deal with it.”
The suspect, who is now threatened with a fraud, was arrested by a sting operation on Instagram. The officials used the social media app to provide a rich investor who wants to buy Bitcoin. “We opened an account for a young man, posted pictures that showed him young and rich, and set up a message in which he told them to sell 1,000 Bitcoin,” said police director Khamis Mattar Al Muzaina in the release. After the suspect was arrested, the police found out that the stolen money was spent on a series of luxury items, especially for housing.