Binance investigated for alleged investment app crypto scams
Recently the FIA, an acronym for the federal agency dedicated to investigation and cybercrimes in the United States, announced that it would be investigating Binance operations. The federal body is investigating a crypto scam that links to the popular exchange, according to reports.
• Binance agents in Pakistan must testify regarding links to crypto scams.
FIA sent Binance an order of attendance to Hamza Khan, the head of analysis at the Pakistan-based exchange. The order shows that Khan could be involved with crypto scams using fake apps to encourage people to invest their money.
The federal body also sent a questionnaire to Binance based in the United States and the Cayman Islands to clarify things. The investigations opened early on Friday, January 7, 2022, and could show progress in the coming weeks.
FIA clarifies that for some time, crypto investment fraud has been observed within Pakistan and the Ponzi methods, where the trader loses all his money for an ROI that never comes. The FIA does not point to the exchange as a fraudulent crypto company, but it does expect its head of analysis in the country of South Asia to give testimony.
• Binance agents in Pakistan must testify regarding links to crypto scams.
FIA sent Binance an order of attendance to Hamza Khan, the head of analysis at the Pakistan-based exchange. The order shows that Khan could be involved with crypto scams using fake apps to encourage people to invest their money.
The federal body also sent a questionnaire to Binance based in the United States and the Cayman Islands to clarify things. The investigations opened early on Friday, January 7, 2022, and could show progress in the coming weeks.
FIA clarifies that for some time, crypto investment fraud has been observed within Pakistan and the Ponzi methods, where the trader loses all his money for an ROI that never comes. The FIA does not point to the exchange as a fraudulent crypto company, but it does expect its head of analysis in the country of South Asia to give testimony.