According to Finance Feeds, Pakistani authorities conducted a joint raid in Karachi, dismantling a transnational cryptocurrency investment scam network involving approximately $60 million. The group employed long-term social engineering through social media and instant messaging tools, posing as traders or "insiders" to lure victims into fake cryptocurrency and forex trading platforms. They gradually swindled funds by promising high returns. Once victims had invested close to $5,000, the scammers would demand additional fees under the guise of taxes, withdrawal fees, or account verification fees, before freezing the accounts and cutting off all contact.
Pakistani authorities dismantle a $60 million transnational fake cryptocurrency investment scam network.
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