The scammers used fake apps to capture the investment of the victims, who sent funds to wallets linked to Binance to take advantage of the supposed benefits offered. It is estimated that those responsible stole almost $ 100 million in cryptocurrencies.
The Pakistan Federal Investigation Agency (FIA), requested to Binance his collaboration in an ongoing criminal investigation associated with a large-scale scam involving wallets and apps associated with the international exchange.
FIA request collaboration to Binance
This is revealed by various reports published today, which indicate that the authorities of the FIA contacted the offices of Binance in the Cayman Islands and with the exchange’s chief executive officer to Pakistan, Humza Khan, precisely to request support from the company to solve the events that took place, which resulted in the theft of some USD $ 100 million from residents of the Arab country.
The Federal Investigation Agency Cyber Crime Sindh’s action on 11 online investment apps integrated with @binance.The apps defrauded Pakistanis with about 100 million $. A letter has been sent to Binance as well as notice to GM Binance Pakistan. @cz_binance @Cointelegraph pic.twitter.com/8ayZJwjZrM
– Imran Riaz (@ImmiRizz) January 7, 2022
In a document sent by the FIA to the offices of Binance, it reads:
“As reported to this office by the complainants, an online financial scam was carried out that affected thousands of victims in different cities of Pakistan, which involved the use of fraudulent applications through which millions of dollars were stolen. innocent people ”.
As revealed by the authorities, the investigation would be following up on the events raised by the apps MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, 91FP, UG, TASKTOK, linked to some 26 addresses associated with Binance.
The modus operandi
To perpetrate the scam, the scammers asked the interested parties to open an account at Binance and transfer the funds to the corresponding address. Later, through Telegram groups, they indicated commercial advice and recommendations to the victims, offering specialized information in exchange for a greater amount of funds, offering unrealistic returns without any kind of support.
As often happens in these cases, after raising a large amount of capital, those responsible took the funds and closed the respective applications, thus consummating the scam and leaving those affected without their money. It is estimated that there were around 5,000 victims and each one lost around USD $ 2,000, leaving a global balance of some USD $ 100 million stolen.
About the request for support to Binance, the FIA mentioned in the statement the following:
“It is pertinent to mention here that Binance is the largest unregulated cryptocurrency exchange where Pakistanis have invested millions of dollars. Fia Cyber Crime Sindh has begun to take steps to closely monitor peer-to-peer transactions carried out by residents through Binance, precisely to curb the threat of terrorist financing and money laundering, as the platform is one of the the easiest to use where such activities can be performed ”.
As such, the department of digital crimes investigation of the FIA requested to Binance your support to track the 26 addresses linked to your exchange. In addition, they also requested information on the mechanisms used by scammers to link to the platform, so they expect full cooperation from the company.
As such, the address of Binance For Pakistan, it indicated that it would offer all its support to the local authorities, although it would refrain from issuing opinions on regulatory aspects:
“We do not comment on specific matters with the regulatory and law enforcement authorities. However, as a matter of policy, our general approach is to cooperate with investigations whenever possible. Specifically, Binance tries to work closely with law enforcement and regulators. “
Fountain: TheBlockCrypto, Twitter
Version by Angel Di Matteo / Daily bitcoin
Picture of Unsplash