For the first time in the country’s history, the Cyber Crime Wing of the Federal Investigation Agency (FIA) has issued a notice to the Crypto Currency’s representative in Pakistan in connection with an online fraud of billions of dollars, reported 24NewsHD TV channel on Friday.

The suspects had allegedly used cryptocurrency for the transfer of the money into foreign bank accounts.  

The FIA’s cybercrime wing had reportedly received complaints from nine online applications. 

FIA’s Cyber Crime Wing Additional Director Imran Riaz has told 24News that cryptocurrency is also being used for ‘money laundering and terror financing’.

Giving more information, he has said that one of the affected persons had invested $100 to $80,000.  “The suspects had invented a novel way of committing fraud through the development of an online application,” he elaborated.   

The official said the cryptocurrency accounts of ‘fraudsters’ would be blocked.

Reporter Samar Abbas