Pakistanis have lost almost 18 crore in a crypto currency related scam. Almost 55,000 people have become the victim of the scam, Samaa has reported. In total, 11 mobile applications have been identified as part of the fraud.
As per FIA Cyber Crime Reporting Sindh chief Imran Riaz the applications that are involved include, MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, UG, TASKTOK, 91fp.
The victims of the scam were promised excessively large returns on their investments by the companies involved, in exchange for bringing in additional investors.
“They used to give assurance that you won’t lose your money,” said one of the victims. “Some of the users even went all the way to level-8 and when they lost their money, they [the scammers] refunded them.”
However, on December 19, the apps went down, and everybody who put money into them lost it all. (FIA) has written to international company Binance, requesting an explanation of how money was transferred from Binance accounts to other apps.
On January 12, 2022, Hamza Khan, the general manager of Binance in Pakistan, has been summoned to appear before the agency.