The online trading mobile app robs thousands of Pakistani consumers who invest their hard-earned money in cryptocurrency.
HFC Pak Online Trading App
According to the report, by creating the “HFC Pak Trading App”. The fraudsters persuaded more than 40,000 people to download their mobile app by tricking them into making huge profits. It was nothing more than a decent way to gamble at the daily rate of a bitcoin.
Process Use in Online Trading App
To become part of the app, users had to pay cash to a digital money changer and open a cryptocurrency account on the app. After which they would not be allowed to log in to the app. Consumers are now asked to gamble on cryptocurrency bitcoin rates through their accounts for at least five minutes four times a day.
Remember that these 40,000 customers had invested from 30 to 50 thousand. Fraudsters also started giving profits to gain trust in the beginning. In greed, consumers not only invested money by selling their cars and jewelry but also made their friends and relatives members of this app.
Five Stars Hotels Arranging Parties
With the name of “HFC Pak Trading App”, five and four-star hotels have been hosting lavish parties. In which Lollywood stars, famous singers as well as TikTok stars used to participate. Later, videos and footage of these parties were widely shared on social media to seduce the public.
However, on the morning of December 19, doomsday dawned on these 40,000 homes while the “HFC Pak Trading App” suddenly crashed and has been offline ever since. Frauds have gone into hiding and the people have lost millions of rupees of their hard-earned money.
The FIA has registered a case and the proceedings are underway. FIA Cyber Crime Sindh Wing Chief Imran Riaz has appealed to the victims to come forward without fear and danger and give details of their investment so that not only their losses are compensated. It can be made possible and even the criminals can be brought to justice.