Azerbaijan’s Cyber ​​police stopped a cryptocurrency fraud worth over 1 million manat

The Main Directorate for Combating Cybercrime (MDCC) under the Ministry of Internal Affairs of Azerbaijan conducted another operation as part of international legal assistance and mutual cooperation with foreign law enforcement agencies, Report informs, citing the press service of the Ministry of Internal Affairs. The cyber police received intelligence on Azerbaijani citizens who organized a fraudulent scheme under the guise of online cryptocurrency transactions, causing significant losses to foreign citizens.

As a result of operational and technical measures, Malik Huseynov and Mahmud Askerli, previously convicted of similar crimes in Turkey and Russia, were detained.

The investigation has established details of the criminal scheme: Huseynov and Askerli rented office space in a shopping center in a foreign country. Huseynov then approached a currency exchange office located in the same building, offering to exchange 600,000 counterfeit US dollars for the equivalent in USDT cryptocurrency. After receiving confirmation that the cryptocurrency had been deposited into his account in excess of 1 million manat, he left the country.

A criminal case has been opened. The court ordered both suspects to be held in custody.

The investigation is currently ongoing.

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