Morocco

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Morocco has launched an investigation into residents suspected of using cryptocurrencies to buy properties abroad without approval.

Global Exchanges Fingered
The Moroccan Foreign Exchange Office has reportedly launched an investigation into residents suspected of buying properties abroad using cryptocurrencies. Officials are also interested in understanding the role of global real estate companies that employ Moroccan intermediaries in property marketing.
According to a local report, the probe is examining purchases of high-value real estate by Moroccans holding residency permits in other countries. These transactions are said to be facilitated by unnamed cryptocurrency exchange platforms that provide anonymity and privacy protection.
Under the country’s laws, residents seeking to buy real estate abroad must first obtain approval from the Foreign Exchange Office. However, officials believe residents are resorting to crypto to bypass this requirement, as they are aware of regulators’ inability to track such transactions.
Reports that Moroccan authorities are targeting residents using crypto to buy properties come just a few months after the country’s central bank signaled a change in its approach toward digital assets. As reported by Bitcoin.com News, the central bank has expressed a desire to engage all relevant parties as it works to create a regulatory framework that protects consumers without stifling innovation.
Meanwhile, the local report states that investigators are also looking into aggressive social media campaigns targeting Moroccan investors with discounted foreign real estate deals and marketing tours. These campaigns, promoting million-dollar properties, have raised concerns about the origin of the funds and how the transactions are being conducted.
The Foreign Exchange Office is now said to be strengthening its oversight to protect the financial system from illegal activities related to cryptocurrency and unregulated capital transfers.

#binance #wendy #bitcoin #morocco $BTC

A 24-year-old French-Moroccan man has been arrested in Morocco after being linked to a string of recent kidnappings in France aimed at stealing crypto. Based on reports, Badiss Mohamed Amide Bajjou was taken into custody by Morocco’s national police on June 4.
He was reportedly carrying several bladed weapons and multiple mobile phones at the time of his arrest. French justice officials had asked for his extradition after Interpol issued a Red Notice in 2023.
Arrest In Morocco
According to French authorities, Bajjou was found in possession of weapons that suggested he was working with a larger group. He was located thanks to coordination between French and Moroccan law enforcement.
On June 4, France’s Minister of Justice, Gérald Darmanin, publicly thanked Morocco via an X post for the swift action. The post highlighted “excellent judicial cooperation” and noted that this arrest was a serious blow to organized crime networks targeting crypto holders.

Failed Kidnapping Attempt On May 13
Based on reports, the most recent incident involved masked assailants trying to abduct the daughter and grandson of Pierre Noizat, the CEO of French crypto platform Paymium. This took place in broad daylight on May 13.
A short video clip shows Noizat’s daughter fighting back, with help from bystanders. They managed to push the attackers into a van and force them to flee. No money was taken, but the boldness of the attack shocked local residents.
Earlier Abductions And Ransom Demands
On May 3, Paris police freed the father of a crypto entrepreneur after he had been held for several days. Kidnappers had demanded a ransom of 7 million euros ($7.8 million). The victim was released thanks to a targeted police operation.
$BTC
Going back to January 21, Ledger co-founder David Balland was abducted from his home in central France in the early hours of the morning. He was held until January 22, when police rescued him in a nighttime raid.
Interpol Red Notice And International Efforts
Interpol first flagged Bajjou in 2023, linking him to prior kidnappings and other crimes. Based on those alerts, French officials have been monitoring his movements for months.
International cooperation has been key in tracking suspects across borders. Morocco’s willingness to act on France’s request suggests growing ties in combating crypto-linked crime. Officials say more arrests could follow as investigations continue.
Government Response And Security Steps
French law enforcement is now offering extra protection to crypto executives and their families. Measures include priority phone lines, home security checks, and safety briefings.
Authorities said these steps aim to prevent more attacks. Police are urging anyone holding significant crypto assets to be cautious. They recommend simple practices like avoiding public displays of wealth and keeping emergency contacts handy.
#morocco #Kidnapping

In the context of a rapidly growing cryptocurrency market, ensuring safety for investors and participants is extremely important. Recently, police #morocco arrested Badiss Mohamed Amide Bajjou, a 24-year-old French citizen of Moroccan descent, who is believed to be the mastermind behind a series of kidnappings targeting wealthy individuals in the crypto space in France. This arrest, reported by Le Parisien, demonstrates the efforts of authorities to crack down on crimes related to digital assets.