Bitcoin is the new talk of the town these days. Since most of the people in Pakistan are investing in it, spammers are taking it as an opportunity to steal it. In such an effort, a new scam has surfaced on the internet that has resulted in the loss of 1 billion bitcoins by Pakistani investors. A program that went famous in just a few days asked bitcoin investors that they can make quick cash through just a few clicks while sitting at home. All users needed to do is to bet whether the bitcoin price will rise or fall. There were 5-minute trading periods in which investors were able to bet on whether Bitcoin’s price would increase or decrease. Pakistani Investors Lose 1 billion in the Bitcoin scandal.
The name of this app which was a scam is “HFC Pak Trading App.” Those people who were interested in investing were asked to download the app. Later on, it was said that by using finance or other digital money exchange, investors would be able to convert their currency into cryptocurrency. This cryptocurrency would be deposited into the HFC account of the investors. NO doubt the functionality looks quite real and like other digital financial platforms that are currently operational in Pakistan.
Pakistani Investors Lose 1 billion in Bitcoin scandal
Due to its simplicity, many people believe it and also passed it on to their friends and it became famous in just a couple of days. Some of the people who invested at the start made huge profits due to which they were further…