A Dubai-based couple has successfully reclaimed Dh1.55 million after falling prey to a cryptocurrency scam orchestrated by an Arab national. The incident underscores the inherent risks associated with unregulated digital investments in the UAE. According to court documents, the fraudster persuaded the couple to invest in a digital currency scheme, assuring them of guaranteed returns. Trusting the promise, the couple visited the accused’s office and handed over Dh1.5 million to purchase 400,000 units of cryptocurrency. The fraudster assured them that the coins would be transferred to their electronic wallet, but the transaction was never executed. When the couple inquired about the delay, the fraudster provided feeble excuses and eventually ceased communication. The couple reported the incident to the police, and investigations confirmed that the accused had collected the funds without completing the cryptocurrency purchase. The fraudster was tried in criminal court for fraudulent appropriation of funds and fined Dh10,000. However, the criminal ruling did not address the civil aspect of recovering the misappropriated money. The case was subsequently brought before the Civil, Commercial, and Administrative Court. The investor sought repayment of Dh1.5 million along with Dh100,000 in damages for financial loss, missed investment opportunities, legal fees, and other related costs. The defendant’s lawyer argued that the civil case should be suspended pending appeal, claiming that his client did not misappropriate the money, citing his criminal acquittal. The court ruled in favor of the investor, stating that the accused had received the funds for purchasing cryptocurrency but failed to do so. The criminal acquittal does not negate receipt of the funds; it only negates criminal intent. The court emphasized that transferring the money to another party without completing the purchase constituted unjust enrichment under Article 318 of the UAE Civil Transactions Law, which requires repayment of money taken without a legitimate reason. The court noted that the investor suffered material and moral damages from being deprived of the funds and covering litigation expenses. The fraudster was ordered to repay the Dh1.5 million and an additional Dh50,000 in compensation, bringing the total to Dh1.55 million. Legal experts have warned investors to exercise extreme caution in digital currency deals, verify all investment opportunities, and report suspected fraud promptly.