🚨 Dubai Police Dismantle Online Trading Scam – 4 Arrested in High-Profile Fraud Case 💼⚠️

#CreateToEarn #Scam #USDC #BTCUnbound #Ethereum

Dubai Police have arrested four individuals involved in a sophisticated online trading scam that promised victims “high and quick profits.” The group allegedly targeted hundreds of people through phone calls and social media ads, convincing them to transfer funds to fake investment platforms.

🔍 Key Facts:

Fraudulent platforms included:

Sigma-One Capital, DuttFx, EVM Prime, UTrade, EVA Markets, and Core Financial Markets

Victims were misled with promises of fast returns and pressured into sending funds

The money was diverted to accounts outside the UAE, complicating recovery efforts

🕵️‍♂️ Dubai’s Crackdown on Fraud:

According to Khaleej Times, the suspects posed as representatives of trusted financial brands. Notably, Sigma-One Capital, one of the main fronts, disappeared with millions of dirhams and operated from an office shared with Gulf First Commercial Brokers, which has since been vacated.

📍 No Real Office, No License:

Sigma-One claimed to be based in St. Lucia and listed a Dubai address in Musalla Tower, but investigations revealed no actual presence there. The firm was also not registered with UAE regulators such as the DFSA or SCA, leaving investors without legal protection.