The Rise of Illegal Crypto Exchanges: Infamous Iranian Scammers Exploiting the UAE

Infamous Iranian scammers, known for their criminal records in Iran, are now operating unlicensed and unregistered crypto exchanges from Dubai. These illegal platforms, targeting Iranian citizens, are being used to draw funds and facilitate financial fraud. Operating in violation of UAE’s strict licensing and anti-money laundering (AML) regulations, their actions pose a significant threat to the region’s financial integrity. These scammers funnel illicitly obtained funds—black money—from their unregulated crypto operations into the UAE, where they recklessly spend on luxury lifestyles, and high-profile social events. Their ostentatious displays of wealth, funded by stolen money, serve as a deceptive front to lure more victims into their fraudulent schemes. Such activities not only exploit unsuspecting individuals but also threaten the UAE’s reputation as a global financial hub by potentially breaching anti-money laundering (AML) laws and fostering economic crimes . From Human Trafficking to Crypto Fraud: The New Face of Infamous Scammer Infamous scammers with documented involvement in human trafficking and crypto pump-and-dump schemes have now shifted to operating unregistered crypto exchanges in Dubai. By presenting a seemingly legitimate front, they aim to launder illicit funds through blockchain technology, disguising their fraudulent activities. These exchanges act as a cover for laundering money while evading accountability in Iran, where they are wanted by the court of justice. Their operations pose a dual threat, exploiting blockchain anonymity and undermining the UAE’s commitment to combating financial crimes and upholding international legal standards. Khashayar Moradverdi: From Human Trafficker to Crypto Scammer Khashayar Moradverdi (خشایار مرادوردی), also known by the alias \"Adam Moradi,\" is the head of this illegal operation and a key player in exploiting Dubai’s crypto market. Operating under the brand name \"adam.trade\" on Instagram, Moradverdi initiall...