Questions & Answers
Questions & Answers
3 available 3 • View allHow to get money back after being scammed by an online trading agent
1
Q: Recently, I have been scammed by a person who claimed to be an agent for an organization in Singapore.
She claimed that she does 1 min of battle contract trading giving signals to her clients to make the most money.
Basically, she asked us to register on a website on which there was battle contract trading. She would make us transfer USDT into the account.
She would then give us signals to participate in trading where she made us win profit and every day against our capital. I was introduced by a friend who was dealing with her. He made money and did some withdrawals.
After he introduced several other people who trusted him since he was making money and had withdrawn some amount, we tried to withdraw our profit too.
That's when the curtain's dropped and all of us realized that we have been scammed.
Please help me, I have all the evidence. I can even see my money going from one crypto wallet to another.
I just need guidance from professionals to trace my money and get it back.
Please Help.

Dec 9, 2021
557
Can I sue an online trading company after making a huge loss of money?
2
Q: I have not done any trading online before. However, I found one company that is recommended by the UAE government that I contacted online and I was called shortly after that and trading started.
I had no education on what is going on and my account manager was the one who tells me what to do, like close trade, open trade, buy or sell and how many lots to put. I lost approx. AED 70000 in 6 days.
Do I have a case and can I retrieve my money back?

Jul 2, 2022
492
What is the best way to recover money from a cryptocurrency exchange scam?
27
Q: What is the best way to recover money from a cryptocurrency exchange scam?
The platform I'm using to trade cryptocurrency is based in Singapore but operated by Chinese people. I have invested 150k AED into it, coming all from my credit cards.
When I wanted to withdraw money, the customer service said that I need to pay taxes on the profit amount. After paying taxes to them, they are now saying the financial intelligence department found that my account is abnormal and suspected of money laundering due to recent frequent trades and excessive txn volume.
They want me to deposit 20% of my account amt (10k USD) within a week to prove that I didn't launder money, or it will be frozen and will report me to the FI dept.
Can you please advise if this is legal according to the laws and regulations of Singapore?
I don't have money anymore to pay them and I think it's just a scam. The platform recently had the system upgraded and changed; no license, no t&cs, no physical address, no phone number. Shall I report to the police now?

Jan 10, 2021
2444
Legal blog
2 available 2 • View allDubai’s New Virtual Assets Law Boosts UAE’s Crypto Market 4
The new law is applicable to all entities dealing with virtual assets that are set up on the mainland as well as free zones, including special development zones. However, it does not apply to the Dubai International Financial Center (DIFC), which will have its own set of rules and regulations governing all virtual assets entities registered with the DIFC.
May 10, 2022
423
Cryptocurrency Asset Recovery: Case Study 2
Blackwater International, a leading private security and investigative company, has established a reputation for handling complex and high-stakes operations. One of the most challenging areas the company has ventured into is cryptocurrency asset recovery. This case study explores a recent successful recovery operation conducted by Blackwater International, highlighting their methodology, challenges faced, and the impact of their efforts.
Oct 30, 2024
164
Laws & Regulations
1 available 1 • View allFederal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47943

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We received a cheque which has now bounced. We have tried for over a month and a half now to get a new cheque from the person, and every day he says the next day.
We need the money now. We have been to the police station, and they said they can not do anything as the reason the cheque bounced is "Insufficient funds."
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After 11 months of work, how many leave days is an employee entitled to? 0
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What can I do if I got a judgment in absentia for selling medicine without a license? 0
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Can I keep my daughter's physical Emirates ID if the custodian already has the digital copy? 0
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What legal action can a company take to recover an amount from a non-paying customer? 0
Hello,
We are a building materials trading company based in the UAE. We supplied materials worth AED 50,000 to a customer around 8 months ago, but despite repeated follow-ups and reminders, no payment has been made to date.
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2. What documents should we have ready (e.g., delivery notes, invoice, emails)?
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4. Is there a recommended timeline or deadline after which legal steps should be initiated?
Thank you in advance for your advice!
Apr 25, 2025
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