Unmasking the Crypto Scams of Dubai
In early 2024, Bloomberg released a damning investigation into the crypto underworld of Dubai, exposing how known fraudsters like Sam Lee and Shavez Anwar continue launching new Ponzi schemes despite facing legal scrutiny.
One of the key figures featured in the documentary was Danny de Hek, aka The Crypto Ponzi Scheme Avenger, who has spent years exposing financial fraud, calling out scammers, and disrupting their operations.
The Bloomberg exposé highlights a disturbing trend—Dubai has become a playground for crypto criminals, where a lack of enforcement allows Ponzi promoters to rebrand, relaunch, and scam all over again.
The Fall of HyperVerse and Sam Lee’s Escape to Dubai
Sam Lee, once hailed as a crypto pioneer, built HyperVerse (formerly HyperFund), Blockchain Global, and other fraudulent ventures that promised investors life-changing returns. U.S. authorities have since charged Lee with orchestrating a Ponzi scheme that defrauded victims of nearly $2 billion.
But instead of facing trial, Lee fled to Dubai, where he continues to promote new crypto ventures while claiming to be a victim of misunderstanding. Despite being briefly detained, Lee remains free, blaming investors for not “understanding” his vision while simultaneously preparing his next scam.
Shavez Anwar: Dubai’s New Ponzi Kingpin?
If Sam Lee is yesterday’s crypto fraudster, Shavez Anwar is stepping up to take his place.
Bloomberg’s investigation highlights how Anwar has taken over some of Lee’s collapsed Ponzi schemes, including “We Are All Satoshi” (WAAS), which was hit with a cease-and-desist order in California for being an illegal pyramid scheme.
Anwar, desperate to appear legitimate, brags about selling:
✅ 9Pay cards (allegedly backed by Visa—except Visa has never heard of him)
✅ Dodo subscriptions
✅ Bitcoin Gold Miners
✅ Affiliate Marketing 3.0 (which is just a dressed-up MLM scam)
Despite his grand claims, Anwar’s credibility falls apart under scrutiny. Bloomberg directly contacted Visa and Dubai regulators—both of whom confirmed they have no idea who he is.
Shavez Anwar Threatens to Sue Danny de Hek
Clearly rattled by being exposed, Anwar used the Bloomberg platform to take aim at Danny de Hek, falsely claiming that Danny “has zero knowledge of tech” and threatening to sue him.
It’s the classic scammer move—when exposed, they:
1️⃣ Play the victim
2️⃣ Threaten legal action to silence critics
3️⃣ Try to rebrand and keep scamming
The irony? Danny de Hek boasts about having the best Defamation Lawyers in New Zealand, but truth isn’t defamation—and calling out Ponzi schemes is a public service, not a crime.
Danny de Hek has stood up to countless scammers before, and this threat won’t be any different.
Dubai: A Haven for Crypto Scammers
The Bloomberg investigation makes it clear that Dubai’s lax regulations and business-friendly policies are attracting both legitimate businesses and financial criminals.
While authorities claim to be cracking down, the reality is that Dubai is still a go-to escape route for crypto fraudsters looking to avoid extradition.
The Fight Against Crypto Scams Continues
The battle against crypto fraud is far from over, and as Bloomberg highlights, Danny de Hek remains one of the loudest voices calling out these scammers. While regulators struggle to act, independent investigators, whistleblowers, and scam hunters like Danny are doing the work that governments should be doing.
Watch the Bloomberg investigation below and see how scammers like Sam Lee and Shavez Anwar continue deceiving investors—and why people like Danny de Hek won’t back down.
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