Pakistanis Lose Millions to Crypto Scam, Pakistan Issues Notice to Binance
Investors from Pakistan have become victims of a massive fraud using cryptocurrency. The country’s main law enforcement agency has issued a notice to crypto exchange Binance in relation to the scam which resulted in the loss of $100 million dollars for Pakistanis, media reports revealed. Fraudsters Lure Pakistanis to Invest in Cryptocurrency Through Binance Pakistan’s Federal Investigation Agency (FIA) has uncovered a crypto investment scam that has allegedly cost Pakistani citizens some 17.7 billion rupees (around $100 million). Providing details on the case, Imran Riaz,....
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In the absence of regulations, people in Pakistan have invested a serious amount of money in digital assets. New research claims Pakistanis keep some $20 billion in cryptocurrency, allegedly more than what their central bank has in foreign reserves.
Government Urged for Regulations as Study Shows Pakistanis Hold $20 Billion in Cryptocurrency
The Pakistani nation owns more cryptocurrency than foreign reserves, according to the Pakistan Frontier and other media outlets quoting a new report by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The study,....
The federal agency of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance wallets to unknown 3rd-party wallets. Pakistan's Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region. The government of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from....
In a major win for Pakistan’s cryptocurrency market, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, the world’s largest crypto exchange, has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC). Binance Co-Founder To Boost Crypto Innovation The announcement was made by the finance ministry on Monday, following Zhao’s meetings […]
He called for the government to set up a Bitcoin policy, arguing that India already had some regulations in place. Nasir Hayat Magoon, The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has stated that Pakistani citizens have a combined crypto assets value of $20 billion.During a news conference, the FPCCI president said that Pakistanis' digital currency valuations are based on the chamber's research paper, as per a local report. He urged the government to implement a cryptocurrency policy, pointing out that India has implemented some restrictions in....
NewsBTC has announced to expand its Bitcoin news and analysis services to Pakistan, a step that will enable people to access the latest digital currency updates in Urdu. Over a long time, NewsBTC has encountered a reasonably attractive traffic from the South Asian country, the website's CEO Jonathan Millet indicated in his statement, saying that it has helped them understand the territories where Bitcoin is finding a loyal fanbase. Before Pakistan, the website has already announced to launch its industrial news services in Russian, Chinese and Spanish. "We believe in addressing areas that....