If you get a call from a bank or FIA on a crypto transaction, first of all, don’t panic because you are not a thief or a fraud; you are buying coins with your halal money by buying dollars. Therefore, the profit and loss in crypto is yours and not that of any organization, crypto is not a crime in Pakistan, but crypto is not regulated in Pakistan, which means if there is fraud with you in crypto, your money will come from somewhere.
There will be no recovery because no institution, including the State Bank, approves crypto transactions in Pakistan, fraud will happen only when you give your money to someone else or buy any NFTs by clicking on someone’s link.
Nowadays, fraud is very common in NFTs because there is no liquidity, which means you can sell coins whenever you want with one click, but not so in NFTs. NFTs will be sold only when someone is going to buy, scammers send their NFT link to unknown people and tell them to buy this NFT for 200/300 dollars, while the real value of this NFT is not even one dollar. So when you click on such a link and spend your 200/300 dollars, then your money will be lost forever, so don’t buy anything from anyone’s link, be it a wallet or anything.
Second Fraud: When you get into crypto, you will be approached by many people on WhatsApp. They will ask you to trade futures and bet the profit 50/50…
