Federal agencies in Pakistan have opened a criminal investigation after receiving numerous complaints about an ongoing scam involving misleading investors into sending funds from Binance Wallet to an unknown third-party wallet.
According to reports, Pakistan’s Federal Bureau of Investigation (FIA) has issued an official notification to cryptocurrency exchange Binance to identify links to a multi-million cryptocurrency scam in the region.
The FIA’s cybercrime unit has issued an attendance order to Hamza Khan, general manager of Binance Pakistan, to identify the exchange’s links to a “fraudulent online investment mobile application.”
Binance was also asked to provide details, including official supporting documentation and integration mechanisms for the APIs fraudsters use to connect to Binance services. Despite the FIA's proactive blocking of bank accounts associated with suspicious apps, the notice warns: "FIA cybercrime would justify recommending financial penalties to Binance through the State Bank of Pakistan if regulations are not complied with."
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