• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Monday, May 29, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Eko Football: Fouad Oki elected Chairman LSFA

    Eko Football: Fouad Oki elected Chairman LSFA

    FIFA U-20: Nigeria defeats Italy

    FIFA U-20: Nigeria defeats Italy

    Kuti turns self in over assault on Policeman 

    Seun Kuti: Magistrate dismisses application to arraign singer by Police

    Manchester City Win Premier League

    Manchester City Win Premier League

    Kuti turns self in over assault on Policeman 

    Femi Kuti Speaks On Brother’s Arrest, Says ‘We’ve Got The Best Lawyer’

    Update: Kuti detained in Panti, Lagos

    Update: Kuti detained in Panti, Lagos

    Malik family emerge winners in Lagos Squash Classics

    Malik family emerge winners in Lagos Squash Classics

    Kuti turns self in over assault on Policeman 

    Kuti turns self in over assault on Policeman 

    19 players compete for $12,000 at Squash Classics in Lagos today

    19 players compete for $12,000 at Squash Classics in Lagos today

    Guitar Boy, King D, Trailblazer Band lights up Couples’ Hangout

    Guitar Boy, King D, Trailblazer Band lights up Couples’ Hangout

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Eko Football: Fouad Oki elected Chairman LSFA

    Eko Football: Fouad Oki elected Chairman LSFA

    FIFA U-20: Nigeria defeats Italy

    FIFA U-20: Nigeria defeats Italy

    Kuti turns self in over assault on Policeman 

    Seun Kuti: Magistrate dismisses application to arraign singer by Police

    Manchester City Win Premier League

    Manchester City Win Premier League

    Kuti turns self in over assault on Policeman 

    Femi Kuti Speaks On Brother’s Arrest, Says ‘We’ve Got The Best Lawyer’

    Update: Kuti detained in Panti, Lagos

    Update: Kuti detained in Panti, Lagos

    Malik family emerge winners in Lagos Squash Classics

    Malik family emerge winners in Lagos Squash Classics

    Kuti turns self in over assault on Policeman 

    Kuti turns self in over assault on Policeman 

    19 players compete for $12,000 at Squash Classics in Lagos today

    19 players compete for $12,000 at Squash Classics in Lagos today

    Guitar Boy, King D, Trailblazer Band lights up Couples’ Hangout

    Guitar Boy, King D, Trailblazer Band lights up Couples’ Hangout

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Crypto news

Pakistan Moves To Investigate Binance Over Massive Crypto Scam

by Idonosan Debe
January 10, 2022
in Crypto news
2 min read
0
0
Pakistan Moves To Investigate Binance Over Massive Crypto Scam
Share on FacebookShare on Twitter

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 Binance wallets to unknown third-party wallets. 

According to local coverage, the FIA’s Cyber Crime Wing has issued an order of attendance to Binance Pakistan’s general manager Hamza Khan to identify the exchange’s link to “fraudulent online investment mobile applications.”

“A relevant questionnaire has also been sent to Binance Headquarters Cayman Islands and Binance US to explain the same,” read the notice. 

The investment frauds in Pakistan were carried out by asking users to register on Binance and transfer funds to third-party wallets under the pretext of unrealistic returns. 

According to the FIA notice: “These schemes benefit old clients at the cost of new clients and ultimately disappear when they have made substantial capital base worth billions of rupees.”

Based on the complaints raised by citizens, the Pakistani agency identified at least 11 fraudulent mobile apps that suddenly stopped working after successfully stealing the user’s funds. The apps identified by FIA are MCX, HFC, HTFOX, FXCOPY, OKIMINI, BB001, AVG86C, BX66, UG, TASKTOK and 91fp.

In addition to directing users to sign up on Binance to transfer the funds, the fraudsters added the victims on a Telegram group for providing “expert betting signals.” Each application hosted around 5,000 customers on average. The notice added:

“At least 26 suspect blockchain wallet addresses (Binance wallet address) have been identified where fraudulent amount may have been transferred. A letter has been written to Binance Holdings Limited to give the details of these blockchain wallet accounts as well as to debit block them.”

Binance has also been asked for details including official supporting documents and integration mechanism of the APIs that were used by the fraudsters to connect with Binance’s services. While the FIA has proactively blocked the bank accounts that were linked to the suspicious apps, the notice warned:

“In case of non-compliance, FIA Cyber Crime will be justified to recommend financial penalties on Binance through the State Bank of Pakistan.”

Binance has not yet responded to Cointelegraph’s request for comment.

In December 2021, the president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Nasir Hayat Magoon revealed that Pakistani citizens hold a combined crypto assets value of $20 billion.

As Cointelegraph reported, the FPCCI president confirmed the numbers based on a research paper released by the chamber. Supporting the claim, the 2021 Chainalysis Global Crypto Adoption Index ranked Pakistan the third highest in terms of index score behind Vietnam and India.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram

Share this:

  • Twitter
  • Facebook

Like this:

Like Loading...
Tags: BinanceCrypto fraudCrypto scamCryptocurrencyPakistan
Previous Post

Ibukun Adeleke- Solving Early Stage Funding Challenges For Startups

Next Post

Senate Discovers N14.7bn PHCN Funds Hidden in Banks

Idonosan Debe

Idonosan Debe

Related Posts

After 10 Years, Satoshi-Era Wallet Cashes $25.7m Worth of Bitcoin

Crypto Scammers Steal $100m From Binance

by Segun Adewunmi
October 8, 2022
0

Scammers have stolen $100 million in cryptocurrency from Binance, the world’s biggest exchange for cryptoassets, the firm said on Friday....

After 10 Years, Satoshi-Era Wallet Cashes $25.7m Worth of Bitcoin

Nigerians trade N497bn Bitcoin amid CBN ban

by Segun Adewunmi
August 12, 2022
0

Nigerians traded N497.35bn ($1.16bn) worth of Bitcoin from the beginning of 2021 to June 2022, indicating an increasing prominence of...

Next Post
Senate Summons NNPC Over N4.07trn Non-remittance

Senate Discovers N14.7bn PHCN Funds Hidden in Banks

Please login to join discussion

Recommended

Donald Trump Praises Nigeria Over Twitter Ban

Donald Trump Praises Nigeria Over Twitter Ban

2 years ago
#EndSARS Protest: Lagos CP Visits Scenes of Destruction in Fagba

Lagos Police Arraigns Man Over Social Media Post

2 years ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency Academic Staff Union of Universities (ASUU) ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Donald Trump Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State Police command Muhammadu Buhari Murder Naira NDLEA New naira notes Nigeria Rape Strike action UK United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    %d bloggers like this: