NCCIA Busts Crypto, Forex Scam Ring: 10,000 SIMs & 34 Suspects Seized in Major Crackdown

The National Cyber Crime Investigation Agency (NCCIA) has dismantled a globally organised cybercrime network involved in massive online investment scams. In a press conference held this Thursday, Sindh Home Minister Ziaul Hasan Lanjhar and NCCIA Additional Director Tarik Nawaz confirmed the major operation.

Authorities conducted raids in DHA Phase One and Phase Six. Consequently, they arrested 34 individuals accused of defrauding citizens. The group includes 15 foreign nationals and 19 Pakistani citizens.

The Scam: Crypto & Forex Traps

The network operated with sophistication. According to the Home Minister, the suspects lured victims through social media platforms. They promised high returns on cryptocurrency and Forex investments to attract targets.

To execute the fraud, the group used fake login portals. These sites created the illusion of legitimate investment platforms. Furthermore, the fraudsters displayed inflated, fake profits on these portals. This manipulation convinced victims to deposit even more funds into the scheme.

NCCIA Recovered a Massive Tech Arsenal

The scale of the operation was extensive. Officials recovered significant evidence during the raids. The seized inventory includes:

• 37 computers
• 40 mobile phones
• 6 illegal gateway exchanges

Most notably, authorities found over 10,000 SIM cards. The NCCIA reported that these international SIM cards were used to create fake accounts on Telegram and other social media platforms to entrap victims.

Currently, investigators are gathering further technical evidence to strengthen the case. Home Minister Ziaul Hasan Lanjhar praised the NCCIA for the successful crackdown. He emphasised that this operation sends a strong message to the common people of Pakistan that the cross-border cybercriminals will be held accountable.