I just learned about a rather grim story that unfolded in the UAE. Do you remember the crypto scammer Roman Novak? The same one who in 2020 received a six-year prison sentence for defrauding investors of millions through a crypto project. So, after serving his sentence, he moved to Dubai and decided to start over. He launched an app called Fintopio and again began attracting funds — this time hundreds of millions from new investors.

In early October, Novak and his wife Anna went to meet with potential partners near Hatta. After that, they simply disappeared. When relatives couldn’t reach them, they raised the alarm.

The police suspect that the couple was lured into a rented villa under the guise of a business meeting. In reality, it turned out to be kidnapping. The kidnappers apparently wanted access to cryptocurrency assets linked to his app and previous schemes. They demanded ransom, but when it was not paid, the worst happened. Both were killed.

Russian and Omani authorities are investigating. The story shows how dangerous the crypto sphere can be when people with a criminal past get involved. Roman Novak is no longer coming back, but this is a reminder to be extremely cautious when working with unknown projects and people in this industry.