UAE warns of cryptocurrency scam risks

UAE authorities are investigating a 300 million dirham ($81.68 million) cryptocurrency scam. Although local news agencies did not provide any specific details about the digital currency fraud case, police officials in the UAE's economic center have issued a warning about cryptocurrency-related scams. The warning states that people should be aware of the significant risks of unmonitored large-scale transactions involving cryptocurrencies, which may expose users to the risks of fraud, piracy and money laundering. (Cryptoglobe)