Pakistani Police Bust Crypto Investment Scam Gang, Involving Around $60 Million

By: theblockbeats.news|2025/12/27 01:16:06

BlockBeats News, December 27th, the National Cyber Crime Investigation Agency (NCCIA) of Pakistan conducted a joint raid in Karachi, dismantling an online investment fraud network known as the "International Scam Group," involving approximately $60 million. During the operation, the police arrested 34 individuals in Phase 1 and 6 of the Defense Housing Authority, including 15 foreigners and 19 Pakistani citizens.

Sindh Province's Home Minister Raja stated that the group conducted long-term "account grooming" scams on domestic and foreign victims through social media and instant messaging apps, inducing them to participate in fake cryptocurrency and forex trading projects. The police seized 37 computers, 40 mobile phones, over 10,000 international SIM cards, and 6 illegal communication gateway devices.

The investigation revealed that the scammers first established fake trading platforms, displayed forged profit data to gain trust, and after the victims invested around $5000, they demanded additional payments for taxes, withdrawal fees, and disappeared after that. Funds usually went into overseas bank accounts and were then converted into cryptocurrency for cross-border transfers.

The NCCIA pointed out that the case involved multiple countries, and the related investigation is ongoing. Currently, 22 suspects have been judicially detained.

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