Saudi Arabia has become a growing target for crypto fraud networks. Vision 2030 has made Saudis proud of technology and curious about digital assets, and fraudsters have exploited that interest with fake platforms promising guaranteed returns. The most common pattern we see among victims in the Kingdom is the fake trading platform promoted through social media and messaging groups: a professional interface, a courteous account manager, and a balance that grows on screen. When the victim tries to withdraw, demands for extra fees or taxes appear, and then the platform vanishes. Those demands are part of the fraud, every time.
We must be completely clear: cryptocurrency trading is restricted in the Kingdom, and the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) have repeatedly warned against platforms claiming licences they do not hold. Our work is therefore not trading and not investment advice in any form. It is assistance for fraud victims and the legal recovery of stolen funds only.
If you have been defrauded, your first step is to report through the Kollona Amn app (كلنا أمن), or to call the police on 999 or 911. Keep the report reference number: it proves your good faith and is required in later legal proceedings.
Cases reach us from across the Kingdom. In Riyadh we mostly see fake investment platforms targeting employees and business owners. In Jeddah, Dammam and Khobar, messaging groups promoting fake trading platforms with convincing Gulf-facing interfaces are widespread. In every region the same truth holds: the earlier a victim reports and documents, the clearer the money trail.
An official report alone rarely traces funds across chains and offshore platforms. That is where our work begins. We trace the funds transaction by transaction, document every step in writing, and take legal action against identifiable recipients with our Swiss legal partners. Your privacy and your family's reputation remain protected at every stage: every case is handled in strict confidence from the first contact.