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Pakistan to investigate crypto exchange Binance in an alleged $100 million scam

Pakistan to investigate crypto exchange Binance in an alleged $100 million scam
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Pakistan’s FBI has It said issued a formal notice to Binance After receiving multiple reports regarding a crypto scam that misled investors into sending funds from their Binance wallets to unknown third-party wallets.

Pakistan to investigate Binance crypto exchange

According to a local media Transfer, the Pakistani agency identified about 11 con man Mobile applications that have been used to steal investor money. The list of applications identified by the FIA ​​are HFC, MCX, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, UG, TASKTOK, 91fps.

According to the FIA ​​notice:

“A related survey has also been sent to the Binance headquarters in the Cayman Islands and to Binance US explaining the same.”

According to Imran Riaz, FIA’s head of cybercrime in Sindh, a letter has also been sent to GM Binance Pakistan.

The scam involved misleading investors into transferring funds to third-party Binance wallets. Later, the scammers also invited users on the Telegram messaging app by offering “expert bet signals”. Each app’s Telegram channel hosted nearly 5,000 users. The reported range of funds stolen from users ranges from $100 to $80,000.

The notice also mentioned that approximately 26 blockchain wallet addresses have been identified where the fraudulent amount may have been sent. According to the official notification, a letter has been sent to Binance revealing a list of wallet addresses that may contain the fraudulently transferred funds. Law enforcement officials also Arrive To the popular messaging app Telegram to seek more clarity and ban all accounts that have been linked to the scam.

In response to the news, Binance Pakistan also tweeted, saying that the exchange will work with the agency to resolve the aforementioned issues.

Posted in: Binance, Scam

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