NCCIA Exposes Major Cryptocurrency Fraud Scheme

The Cybercrime Reporting Centre of the National Cyber Crime Investigation Agency (NCCIA) has exposed a large-scale online scam involving cryptocurrency fraud and fake investment schemes, officials confirmed on Friday.

How the Case Unfolded

According to an NCCIA spokesperson, the investigation began after a resident of Sangla Hill filed a complaint alleging that he had been deceived out of millions of rupees by fraudsters posing as representatives of a reputed international firm.

Initial inquiries revealed that the accused were operating through a network of multiple bank accounts and registered mobile numbers to collect money from unsuspecting victims. In one reported case alone, the complainant lost Rs1.28 million to the scammers.

Scam Tactics Used

Investigators discovered that the culprits relied heavily on fake WhatsApp accounts, international phone numbers, and misleading online advertisements to trap potential investors. They promised lucrative returns through bogus cryptocurrency and digital investment opportunities, persuading victims to transfer funds into fraudulent accounts.

Legal Action Taken

A formal case has been registered at the NCCIA Police Station in Gujranwala under FIR No. 170/2025. Charges have been filed under multiple sections, including:

• Sections 13, 14, and 16 of the Prevention of Electronic Crimes Act (PECA)
• Sections 419, 420, 468, 471, and 109 of the Pakistan Penal Code (PPC)

These provisions cover offenses ranging from electronic fraud and impersonation to forgery and criminal conspiracy.

Growing Concerns

The case highlights the increasing number of crypto-related frauds targeting Pakistani citizens. Authorities have repeatedly urged the public to remain cautious of online investment opportunities, particularly those promoted via social media platforms and unverified communication channels.

The NCCIA has reaffirmed its commitment to pursuing cybercriminals and protecting citizens from financial scams, warning that more arrests and legal proceedings are expected as investigations continue.