Pakistan reports $60 million crypto fraud ring busted on December 27, 2025

On December 27, 2025, Pakistani authorities said they dismantled a $60 million international crypto fraud network and arrested more than 34 suspects. The NCCIA targeted schemes promoted on social media that routed proceeds through bank accounts before conversion to digital assets. The action coincides with PVARA's licensing rollout, including NOCs for Binance and HTX.