Pakistani Police Are Looking For $ 100 Million Cryptocurrency Fraud Application! Ask Binance to participate

Pakistan, a country in Southeast Asia, recently reported that the cryptocurrency market involves the Binance cryptocurrency exchange, amounting to around $ 100 million. The Pakistan Bureau of National Investigation (FIA) Cybercrime Investigation Unit released a report on the investigation, reports Hamza Khan, chairman of Pakistan Binance, explaining why the company has been linked with a fraudulent online application. Switch to Binance Cayman and Binance US.

The FIA's head of cybercrime investigations, Imran Riaz, also announced on July 7 that the number of scams had reached $ 100 million. The agency told Binance: An online fraud has taken place in Pakistan as many people complain about their work, claiming thousands of lives in various cities of Pakistan, including hundreds more. Saint steals US $ 10,000 with fraudulent apps.

Encourage traders to transfer money through Binance Wallet

According to the local "Dawn" report, the investigation has now revealed fraud in 11 applications, including MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, 91FP, UG, TASKTOK and 26 of them. Binance Account Wallet is associated with this app. The scams include fraudulent traders transferring money from their Binance wallet to an unknown third-party wallet.

The agency said that many online scams have been carried out in Pakistan in the form of Ponzi schemes and investors have promised to get a good return on their investment if they want more consumers.

“These programs have benefited current consumers at the expense of new products, and eventually spread when a large investment of several million rupees was generated. People from across the country called the agency on December 20, 2021 and at least 11 applications. They were sent, they said it was canceled.

These scammers force Pakistani users to create an account with Binance and then transfer money from their Binance wallet to the app. The user is then added to the Telegram group, and the manager sends a message called the gambling expert where the user transfers a lot of money into the app and reports the investment until the crooks end up losing their money.

The FIA ​​initially estimated an average of 5,000 users per app, and HFC reported 30,000 users.

“The investment per person would be between $ 100 and $ 80,000, and the average investment per person is around $ 2,000, or the estimated $ 100 million. "

Pakistani police have documented Binance.

It should be noted that the FIA ​​said in the statement that it has started monitoring the behavior of Pakistanis in the Binance cryptocurrency market. Binance is a highly commercial, unregulated cryptocurrency exchange. , Pakistanis Invest Millions of Dollars FIA Cybercrime Department Begins to Focus on Binance Peer-to-Peer Activities to Help Binance Prevent Threat of Financial Fraud and Financial Transactions. Because Binance is the largest and easiest to use platform that supports these activities.

The FIA ​​has asked Binance to provide support and integration information for the API that crooks use to connect to Binance services, including details on 26 wallets. The agency expects Binance to cooperate, but the cybercrime agency FIA has warned that it has a base to fund Binance through Pakistan's central bank if it breaks the rules.

In this case, Binance Pakistan said on its official Twitter account that it did not comment on specific issues with the governing body and the police.

"However, our policy enforcement team is involved in investigations to the extent possible. In particular, Binance seeks to work closely with police and authorities."