Pakistan Faces New Wave of Crypto Scams – From P2P Traps to Fake Exchanges
Crypto adoption in Pakistan is rising fast — but so is the number of scams targeting new investors. Recent cases show how scammers are evolving their tactics, blending local trust networks with digital deception.
Here are the most viral and dangerous scams now circulating across Pakistan:
P2P Trading Scams
Fraudsters pose as verified buyers on platforms like Binance P2P. They send fake payment screenshots or use stolen bank accounts to reverse transactions after receiving crypto. Once the trade is released, victims lose everything.
Gujranwala “Foreign Company” Scam
Victims were lured through WhatsApp groups promising high daily profits. One investor reportedly lost over Rs 1.2 million after being told to invest in a fake overseas crypto firm.
Romance + Investment Scams
Criminals build emotional trust on social media or dating apps. They introduce victims to “exclusive” trading platforms, which initially show fake profits — until withdrawals are frozen.
Influencer-Endorsed Trading Apps
Some unregulated apps are promoted by influencers on TikTok and YouTube. They show fabricated dashboards and “testimonies” to attract deposits.
Wallet Malware & Fake Google Forms
Users receive files or links claiming to verify their wallets or confirm transfers. Once opened, the malware steals private keys or wallet data — draining funds instantly.
Authorities have warned that most of these scams operate outside SECP or SBP regulation, leaving victims with no legal recourse.
The biggest takeaway: If it promises guaranteed profit, it’s already a red flag.
P2P traders should always confirm real payments, avoid third-party bank transfers, and use only verified exchanges.
Pakistan’s crypto scene is growing — but education and caution must grow faster.
Have you or someone you know faced a crypto scam recently?