Online fraud Top News

Cryptocurrency Mining: Crackdown On Digital Currency Traders

cryptocurrency mining

LAHORE: Prime Minister Pakistan ordered to start an investigation on digital currency mining and crackdown its operations.

The investigation is carried down under the supervision of Director Cybercrime Captain Rtd. Shoaib. First time in the history of cybercrime in Pakistan digital currency mining machine creates bitcoins is seized by FIA.

Accused named Hassaan, Rizwan, and Salman used to trains people for cryptocurrency mining. According to Investigation Officer Aashir:

A grand crackdown continues on bitcoins and digital currency mining machine is seized by FIA Cybercrime Wing. In order to carry out the operation, there was a raid in Gulberg and arrested three accused. A bitcoin mining machine is seized from their possession.

Adding that, it is a very fine group dealing with all digital currency mining. They established an alleged Bit College to spread the learning of cryptocurrency mining and expanding its trade.

Read more >> Cryptocurrency Hack: Hackers Lifts $1 Million From A San Francisco Man’s Phone Number

People are selling and purchasing bitcoins out of the tax net. These are basically a virtual currency having no meaning in reality. Some forums give an online wallet where people can get digital currency.

There is clearly no surety behind the security of their digital currency. If the admin block the website then people can lost their cryptocurrency worth millions.

About the author

Zeeshan Riaz

Mr. CH. Zeeshan Riaz is the founder of The CyberForm. Prior to starting the firm, he was working as IT Operations Director at a Multinational Company. He has been working in the IT sector Since 2010.

Add Comment

Click here to post a comment