The Federal Investigation Agency (FIA) has recently detected a USD100 million internet fraud involving a cryptocurrency and has issued a notice to Binance’s local representative.
Imran Riaz, Additional Director of the FIA’s cybercrime wing, revealed that the perpetrators of the online fraud sent the money abroad using cryptocurrency.
People have put between $100 and $80,000 into fraud applications, he said. The FIA official stated, “Those who designed these apps were tied to cryptocurrency.”
He further stated that all persons related to the Binance cryptocurrency fraud have been identified, and their crypto accounts have been suspended.
Cryptocurrency is also being used in money laundering and terror financing, according to the FIA officer.
