KARACHI: Cryptocurrency exchange Binance nominated a two-member team to coordinate with the cybercrime wing of the Federal Investigation Agency (FIA) in a probe to identify links around a multi-million scam.
The government 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.
Last week, the cybercrime wing of the agency’s Sindh chapter 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.”
In an update shared Tuesday, Imran Riaz, head of the Sindh chapter of authority’s cybercrime wing, said the exchange has assured the agency of its “full support” in the investigation.
“The [Binance] investigators are associated with the US Department of Treasury with specialisation in cryptocurrency investigations,” Riaz said.
The official appreciated the response from the exchange, saying he was looking forward to continued cooperation with the exchange in unearthing criminal activities based on cryptocurrency.
The agency had established a telephonic contact with the exchange on Friday night which was followed by further correspondence through email the following day, Riaz said.
