Pakistani cybersecurity experts warn against cryptocurrencies falsely linked to Saudi Arabia

Estonia is looking to drag the euro into the crypto age. Pictured here is Bitcoin (AFP)
Updated 21 August 2019
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Pakistani cybersecurity experts warn against cryptocurrencies falsely linked to Saudi Arabia

  • Say growing incidents of phishing scams luring victims into investing in cryptocurrencies purportedly linked to Saudi Riyal
  • The Saudi ministry of finance says any use of the Kingdom’s name, currency or emblem will be subjected to legal action 

KARACHI/JEDDAH: Pakistani cybersecurity experts on Wednesday warned Internet users against investing in cryptocurrencies falsely linked to Saudi Arabia, saying there were growing incidents of phishing scams by fraudsters attempting to lure victims into investing in cryptocurrencies, especially in foreign currencies like the Saudi Riyal.
On Tuesday, the Saudi Ministry of Finance said scammers were making false claims that a “virtual currency” was linked to the Saudi riyal and would be used to finance key projects. 
“These phishing or fake campaigns by fraudsters, luring Internet users to reveal personal details on a fake web page or email form pretending to come from a bank or company, are a way of getting users’ information so they can be easily subjected to fraud,” said Qazi Mohammad Misbahuddin Ahmed, the CEO of the Pakistan Computer Emergency Response Team (PakCERT), a cybersecurity services provider. He warned that victims of the scams could lose both valuable information and cash.
The warnings from Pakistani experts and the Saudi ministry of finance come in the wake of the website of a cryptocurrency company in Singapore promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree and saying the currency would be used to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom.
“Trading may be taking place in CryptoRiyal and SmartRiyal but by using [the symbol of the] Riyal they have attempted to show that this (business) has Saudi backing, which has been denied by the ministry of finance of Kingdom,” Ahmed said. 
“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the Saudi ministry said in its statement. 
In April 2018, Pakistan banned Virtual Currencies (VCs) like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond, etc. and Initial Coin Offerings (ICO) tokens as illegal and devoid of backing by the government of Pakistan. The central bank has also advised all banks and Payment System Operators and Payment Service Providers to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies and tokens. 
Cryptocurrency expert Dr. Assad Rizq said scammers were exploiting the ignorance of average Internet users about how virtual currencies work.
“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.”
“They hype and pump their project so the price goes up,” Rizq said. “Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.”
Rizq said cryptocurrencies were a risky investment for two reasons: “First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.”
“Second, you have to do your homework, learn about the technology,” the expert concluded. “And if you still want to invest, consider your country’s rules and regulations.”


Imran Khan says he declined house arrest, urges overseas Pakistani to halt remittances

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Imran Khan says he declined house arrest, urges overseas Pakistani to halt remittances

  • Ex-PM’s social media post hints at a backchannel offering him a ‘deal,’ without naming interlocutors
  • Khan criticizes military trials and sentencing of supporters, says the proceedings violated basic rights

ISLAMABAD: Former Prime Minister Imran Khan, who has been in jail for well over a year, said in a social media post on Friday he rejected a house arrest deal, as he also urged Pakistanis abroad to boycott remittances in protest against the country’s political situation.
Khan’s statement comes only a few days after the government began formal negotiations with his Pakistan Tehreek-e-Insaf (PTI) party to address mutual differences and ease the country’s growing political polarization.
Talks began after Khan threatened civil disobedience, urging overseas Pakistanis to halt remittances unless the government freed PTI political prisoners and formed judicial commissions to probe violent protests on May 9 and Nov. 26, blamed on his supporters.
His latest message hints at a backchannel offering “a deal,” without naming interlocutors.
“The proposal I received for a deal was: ‘Negotiate with us, and we will give your party political space, but you will be placed under house arrest and moved to [your] Bani Gala [residence],’” read a message posted from Khan’s account on X, formerly Twitter.
“My response was that all other political prisoners must first be released. I would rather stay in jail than accept any deal. I will neither go into house arrest nor to any jail in Khyber Pakhtunkhwa,” he added, referring to the province ruled by his party.
Khan doubled down on his call for overseas Pakistanis to boycott remittances, framing it as part of a campaign for “true freedom and the restoration of democracy.” It is not clear how his stance might affect the ongoing negotiations between his party and the government.
“Currently, the government is playing ‘committee after committee’ regarding our demands,” he said, adding that the boycott campaign would be halted if negotiations produced positive results.
Khan also assured his supporters that the coming year would bring better prospects for democracy in the country while pledging to remain steadfast.
Criticizing military trials and recent sentencing of his party supporters arrested in the wake of the May 9 protest last year, Khan said they had violated basic rights of civilians and caused international embarrassment for Pakistan.
“If these trials had been conducted in open courts, the video footage of the events of May 9 would have had to be presented,” he said, adding transparent trials were also guaranteed in Pakistan’s constitution.
Hundreds of people carrying flags of Khan’s party attacked government and military installations last year on May 9 after he was briefly detained on corruption charges.
The government is yet to react to the former premier’s statement.


Pakistan using dual approach of diplomacy, military action against Afghan-based militants — analysts

Updated 27 December 2024
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Pakistan using dual approach of diplomacy, military action against Afghan-based militants — analysts

  • PM Sharif says cross-border attacks from against civilians, security forces ‘unacceptable’ for Pakistan
  • An Afghan analyst believes Pakistani airstrikes in his country can create sympathy for groups like TTP

KARACHI: Pakistan is using both political engagement and military action to counter militant groups operating from Afghanistan, analysts said on Friday, after Afghan authorities reported airstrikes conducted by Pakistani forces this week that killed 46 people.
The strikes, which targeted alleged hideouts of the banned Tehreek-e-Taliban Pakistan (TTP), came amid allegations by Pakistani officials of cross-border militant attacks, as extremist violence targeting civilians and security forces has surged more recently.
Afghan authorities claimed the victims included residents from Pakistan’s border regions, who were uprooted during military operations against TTP fighters in recent years, as the United Nations expressed concern over civilian casualties and urged an investigation.

Residents gather near a damaged house two days after air strikes by Pakistan in the Barmal district of eastern Paktika province on December 26, 2024. (AFP)

While Pakistan has not officially confirmed the airstrikes, with both the foreign office and the military’s media wing declining to comment, Prime Minister Shehbaz Sharif said the TTP cross-border attacks constituted a “red line” for his government, asking Afghan authorities to take action against militants using their soil.

The reported airstrikes coincided with a visit to Kabul by Mohammad Sadiq, Pakistan’s special representative for Afghanistan, to discuss trade and regional ties.
“It seems that Pakistan wants to continue to talk to the Taliban while also flexing its military muscle, just as the Taliban did once they engaged in talks with the US,” Husain Haqqani, a former Pakistani ambassador, told Arab News.
He maintained that Pakistan’s military leadership believed its past support for the Afghan Taliban, when the US-led international forces were still operating in Kabul, would shield it from violent attacks, adding these armed groups did not consider any Muslim country “exempt from imposition of their extreme ideology.”
However, Sami Yousufzai, an Afghan political analyst, highlighted the delicate nature of Pakistan-Afghanistan ties, saying such strikes were viewed as a direct affront by Kabul.

A Taliban security personnel stands guard at the site two days after airstrikes by Pakistan in the Barmal district of eastern Paktika province on December 26, 2024. (AFP)

“Afghanistan is particularly sensitive to invasions or attacks within its borders,” he told Arab News, acknowledging that the airstrikes resulted from growing pressure on Pakistan due to the surge in TTP attacks.
However, he maintained Pakistan had made errors of judgment relating to the timings of the attack, as one of its senior diplomats, Ambassador Sadiq, was in Afghanistan, and the number of civilian casualties.
Yousufzai informed that Afghan authorities had recently taken confidence-building measures at Pakistan’s request by relocating 200 TTP families from border areas to central Afghanistan, adding that the move had been undermined by the airstrikes.
“Afghanistan has little to lose, but as a more stable nation, Pakistan should avoid irresponsible actions,” he continued. “Such attacks will not eliminate the TTP. Instead, it will likely increase their support.”
He maintained the real issue was the TTP presence in Pakistan, adding that its fighters were even residing in districts like Bannu and Dera Ismail Khan, which do not share border with Afghanistan, though they have experienced several deadly attacks.

A Taliban security personnel keeps watch from a helicopter two days after air strikes by Pakistan in the Barmal district of eastern Paktika province on December 26, 2024. (AFP)

Mehmood Jan Babar, a Peshawar-based journalist specializing in Afghan and tribal affairs, argued the strikes did not derail diplomacy, as evidenced by continued meetings between Sadiq and Afghan officials, including Taliban Foreign Minister Amir Khan Muttaqi.
Asked about Afghan warning of consequences to Pakistan, he said: “Such speeches and statements are often for public consumption.”
Syed Khalid Muhammad, a security expert in Islamabad, dismissed the claims of civilian casualties, arguing that militants deliberately use civilian populations as shields.
“The key thing to understand about the Pakistani airstrikes on the TTP is that the militants have hidden themselves among the civilian population, much like every terror group globally, which serves a greater purpose for them,” he added. “It allows them to manufacture an alternative narrative to gain sympathy.”

Residents gather near a damaged house two days after air strikes by Pakistan in the Barmal district of eastern Paktika province on December 26, 2024. (AFP)

Meanwhile, Pakistani military’s spokesperson Lt. Gen. Ahmed Sharif Chaudhry said his country had repeatedly pointed out to the Afghan government on state level that the TTP and other militants had been launching cross-border attacks in Pakistan in a news conference earlier today.
“Pakistan will leave no stone unturned in dismantling terrorist networks and safeguarding its citizens against terrorism,” he told the media without confirming the airstrikes.


Pakistani investigation agency says has arrested human smuggler with India links

Updated 27 December 2024
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Pakistani investigation agency says has arrested human smuggler with India links

  • Five Pakistani illegal migrants were killed this month when their boat capsized near a Greek island
  • FIA says suspected human smuggler worked with an Indian in Azerbaijan to send people to Poland

KARACHI: Pakistani authorities on Friday announced the arrest of a human smuggler from Karachi, accusing him of working with an Indian agent to illegally send people to Europe, as Prime Minister Shehbaz Sharif stressed the need to eradicate the practice while presiding over a meeting in the federal capital.
The arrest follows a renewed government drive against human smuggling after five Pakistani nationals died in a boat tragedy near the Greek island of Gavdos earlier this month.
Last year, the issue of illegal migration to Europe drew national attention when hundreds of people, including 262 Pakistanis, drowned after their overcrowded vessel capsized off the southwestern Greek coastal town of Pylos during a voyage from Libya.
The Federal Investigation Agency’s (FIA) announcement of the arrest of Abdul Shakoor, the suspected human smuggler, has brought yet another illegal migration route to Europe under the spotlight, as it said the accused collaborated with an Indian national based in Central Asia.
“An Indian agent named Gautam Sharma, residing in Azerbaijan, was coordinating the illegal transportation of the suspects from Azerbaijan to Poland,” the FIA informed, adding three other suspects, Hasib Ahmed, Qaiser Ahmed and Usman Ali, hailing from different areas of Punjab province, were also arrested.
“Human smuggler Abdul Shakoor had made agreements to send the other suspects to Poland, charging $5,028.89 per person,” the statement added. “The suspects paid the agent an advance of $898.02 per person.”
The FIA also named the organizations that helped the suspects obtain visas.
Separately, the prime minister chaired a review meeting on measures to curb human smuggling, wherein he reviewed the report of a committee formed to investigate the latest migrant boat tragedy near Greece and present its findings.
Sharif instructed the formation of a committee, led by Interior Minister Mohsin Naqvi, to develop sustainable solutions for tackling human smuggling.
“The Prime Minister directed that all individuals involved in the heinous human smuggling trade be arrested within a week and legal action be taken against them,” said an official statement circulated by his office after the meeting.
The prime minister questioned why no disciplinary action had been taken so far against complicit government officials facilitating smugglers and directed authorities to ensure stricter visa checks and compliance with travel regulations for all outbound migrants.
The meeting was also provided an update on the identification of Pakistani nationals involved in the boat capsize near Greece this month and the progress of repatriating their bodies.


Pakistan rescues nine crew members from Indian cargo vessel after distress alert

Updated 27 December 2024
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Pakistan rescues nine crew members from Indian cargo vessel after distress alert

  • The rescue followed another operation this month in which 12 Indian crew members were saved
  • Incident reflects sporadic cooperation between the two nuclear rivals amid continuing tensions

KARACHI: The Pakistan Maritime Security Agency (PMSA) successfully rescued nine crew members from an Indian cargo vessel, according to an official statement, after receiving a distress alert from Mumbai.
The incident marks the second such rescue operation by the PMSA within a month, highlighting sporadic cooperation between the two nuclear-armed rivals amid continued tensions.
Diplomatic ties between India and Pakistan remain strained. Both sides also detain each other’s fishermen who inadvertently cross maritime boundaries, often leaving them to languish in prison for extended periods.
The distressed Indian vessel, Tajdare Haram, reportedly experienced water ingress approximately 120 nautical miles south of Karachi, forcing the crew to abandon ship and take refuge in a life raft.
“Upon receiving the distress alert from the Maritime Rescue Coordination Center (MRCC) Mumbai, PMSA immediately launched a coordinated rescue effort,” the Pakistani agency announced in a statement Thursday.
“PMSA deployed an aircraft and directed nearby merchant vessels and PMSA ships to the scene of the incident,” it added. “The PMSA aircraft successfully located the survivors and facilitated the Indian Coast Guard vessel operating in nearby Indian waters for subsequent recovery.”
The rescue followed another operation earlier this month when the PMSA saved 12 Indian crew members from MSV Peeran-e-Peer in a similar situation.
The PMSA said it remained steadfast in its commitment to ensuring maritime safety and upholding international obligations under the Safety of Life at Sea Convention.


Pakistan PM orders uninterrupted gas supply amid complaints from domestic consumers

Updated 27 December 2024
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Pakistan PM orders uninterrupted gas supply amid complaints from domestic consumers

  • Prime Minister Sharif orders reforms to the gas distribution system to resolve the issue permanently
  • Officials claim improvement in gas load management, say power sector also getting sufficient supply

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday called for reforms to the gas distribution system after complaints from domestic consumers about shortages, as he was briefed in a meeting that surplus regasified liquefied natural gas (RLNG) was available in the system.
Pakistan has long struggled with gas shortages, particularly during the winter months, as declining domestic production and increasing reliance on imports widen the supply-demand gap.
“Uninterrupted gas supply to domestic consumers during the winter must be ensured immediately,” the prime minister directed during the meeting. “Reforms should be introduced in the system’s structure to resolve this issue permanently.”
He maintained that ensuring gas supply to domestic consumers was the government’s top priority.
Officials briefed Sharif that, compared to the previous year, there has been an improvement in gas load management, resulting in reduced load shedding durations, adding that domestic consumers were currently receiving gas from 5 AM to 10 PM.
“The power sector is also being provided gas according to its demand,” the briefing noted. “Additionally, all gas fields in the country remain operational.
The officials also said the Sui Norther Gas Pipelines Limited had resolved 93 percent of consumer complaints, while Sui Souther Gas Company Limited’s resolution rate stood at 79 percent.
Pakistan’s restive southwestern Balochistan province accounts for much of the country’s domestic gas production, though separatist violence in the region often leads to attacks on pipelines, disrupting supply.
Earlier this week, unidentified assailants near Quetta blew up a pipeline, cutting off supply to several areas in Balochistan.
Repairs commenced after the area was secured, but the incident caused significant inconvenience to residents of the province.