Pakistan’s Federal Investigation Agency (FIA) filed an official notice to Binance, requesting information regarding wallets tied to multiple scams.
The FIA has issued an attendance order to Binance Pakistan
The detectives approached Hamza Khan, general manager and growth analyst at Binance Pakistan, to assist them in identifying the operators of 11 Ponzi scheme mobile apps that went down on December 20. The apps identified by the investigators were MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, UG, TASKTOK, and 91fp.
According to reports, the scammers were based in Pakistan and instructed their victims to register a Binance account and transmit money to another Binance address. The FIA names 26 addresses related to the scammers in the warning.
KARACHI: Federal Investigation Agency (FIA) has detected an online fraud of Rs100 billion using a cryptocurrency and issued notice to the local representative of Binance, @cz_binance @binance @BinanceHelpDesk @BinanceUS pic.twitter.com/3oukwzmDqh
— Innocent Pashteen✌ (@FighterDawar) January 7, 2022
The entire cost of the damages is $100 million USD
According to reports, the victims put up between $100 to 80,000 USD, with an average of 2,000 USD per person. The FIA thinks the overall loss will be roughly $100 million USD.
The notice to Binance also included a warning that noncompliance could result in a fine. The investigators, on the other hand, noted that they want Binance to take a “liberal and quick approach” to assisting them in determining the identity of the scammers.