Binance Exchange contacted the Pakistani FIA agency and ensured that it will help fully in every possible way with its two US executives.
Few days ago, the Federal Investigation Authority of Pakistan reported that many people in Pakistan asked for help through social media contacts. According to the FIA, the scam involved more than 11 apps and all the apps were linked with the Binance exchange directly and indirectly and also there was some kind of allegation against the executive of Binance Pakistan. Allegedly the Executive of Binance Pakistan was involved as a middleman to transfer the funds from Pakistan to foreign countries’ bank accounts. However, not everything is clear because, without all evidence, we can not say any person is a scammer or victim.
On 11 January, Imran Riaz, Additional director at FIA, wrote on Twitter that Binance exchange contacted the FIA Agency to support in this ongoing heat of its name surfaced in an ongoing online fraud.
FIA ordered the general manager/growth analyst at Binance Pakistan, Humza Khan, to attendance to explain the whole matter related to “fraudulent online investment mobile applications.”
FIA director also confirmed that Binance exchange hired two former US finance departments to manage works of Binance exchange related to this matter with the Agency. Further added:
“I appreciate the response of Binance, keeping in view the gravity of the issue, and look forward to continued cooperation in unearthing criminal activities based on cryptocurrency.”
FIA officers noted that there are 26 addresses on the Binance exchange, which are linked with the scammers receiving addresses at which the scammer received crypto assets to give high Yield returns.
These supporters of the Binance exchange are showing that the exchange is inclined fully to support the actions against the illicit activities and also to work under full compliance with every country’s government agencies.