The notice called on Binance Pakistan's general manager or growth analyst to appear and explain the organization's position on linking fraudulent online investment mobile apps to the exchange, Xinhua news agency said, citing a statement from the wing. Cybercrime Report of the FIA.
"A relevant questionnaire was also sent to Binance headquarters in the Cayman Islands and Binance USA to explain the same," he added.
Last month, people across Pakistan filed complaints with the FIA โโagainst at least 11 mobile apps that stopped working for a period of time and allegedly defrauded their Pakistani billions of rupees, the FIA โโsaid.
Initial findings revealed that each such application had an average of 5,000 HFC customers, with one of the applications reportedly having a maximum of 30,000 customers, according to the statement.
According to the FIA, "The reported investment range per person was $ 100 to $ 80,000 with an estimated average of $ 2,000 per person, making the estimated scam nearly $ 100 million."
