In Pakistan, a crypto exchange company Binance Pakistan lured locals to invest in crypto currency, scamming them for a massive fraud worth $100 million
Islamabad: While the crypto currency is fast overlapping the global financial investments; crypto currency scams are also making full use of the lucrative offer, luring them into making online investments, only to end up being scammed.
In Pakistan, a crypto exchange company Binance Pakistan lured locals to invest in crypto currency, scamming them for a massive fraud worth $100 million. The Federal Investigation Agency (FIA) has taken note of the matter and has issued notice to Binance in relation with the scam, which has resulted in the country’s largest scam through crypto currency exchange.
“The organizers used crypto currency. We have launched a probe after receiving complaints regarding a fraud involving billions of rupees being committed using nine online applications”, said Imran Riaz, Director FIA.
“Lucrative Offers”
As per details, Binance, referred to as the fraudster, employed mobile apps offering locals opportunities of investment in crypto currency exchange through lucrative offers of profits on their investments.
As per estimates, people sent between $100 and $80,000, making an average of up to $2400 per person. The money was sent into the Binance wallet after investors would register themselves and transfer money to accounts linked to the application.
The fraud came to light…
