When Shazia Nazir, a housewife in Gilgit, invested half a million RS500,000 in an online investment platform she saw on Facebook, she thought she had finally found a way to financial independence. The app promised daily profits, risk -free investment and even showed charts showing her growing returns. Then, one morning, the app disappeared – and with it, her savings.
“I thought it was real,” she says quietly. “The app looked professional and even showed live profit updates. Now I can’t open it. My money is gone.”
Shazia’s history becomes far too common in Gilgit-Baltist-Pakistan’s mountainous northern region bordering China, Afghanistan and India. Once known for its peaceful beauty and remote valleys, the region is fighting with a population of two million people now with a different kind of storm – digital economic fraud offering ordinary people’s hopes and savings.
A similar online scam last year scammed hundreds of people in the same way and threw the already cash-tapeed population into deeper misery. Previously, the notorious Mudaraba fidus had targeted religiously inclined individuals by promising “interest-free” profits and “pure money” where thousands of confidence in investors are pennilous when collapsed.
The perfect frame for scammers
Gilgit-Baltistan (GB) is one of the most geographically isolated regions of South Asia. Its sturdy terrain, snow -capped tops and scattered settlements make it both breathtaking and challenging. With limited development of industrial or private sector, most people are dependent on government jobs, small -scale trade or transfers from relatives working elsewhere in Pakistan or abroad.
Educational standards have improved in recent years, but digital literacy remains low – especially among senior citizens and homemakers. While young people are increasingly active online, many attention is lacking about online security and financial fraud.
As Internet access expanded quickly under the Covid-19 pandemic, mobile phones and social media became lifelines for communication and trade. However, this digital expansion also opened the door to cyber criminals.
The Whale International Scam: a precious illusion
Thousands of people over Gilgit-Baltist ice cream in Hunza and Skardu recently victimized the victim of an online gaming and investment app called Whale International Binance.
At its highest, locals say the app handled transactions worth crores of rupier daily. “People were told that they could earn high returns simply by” investing “and inviting others to participate,” says AFAQ Ahmed, resident of Gilgit.
It was marketed as an easy, modern way of growing income – especially appealing in a region of limited employment opportunities.
Then, just as trust reached its height, the app suddenly disappeared. Accounts were frozen, withdrawals blocked, and all communication stopped. The total estimated loss is around RS3.90 crore.
“I first invested and then told my friends and cousins,” said a young man from Hunza who requested anonymity. “Now everyone is accusing me because they also lost money. The app’s support number no longer works and their Facebook page is gone.”
How scams work
These fake apps follow a well -known playbook:
Start and Advertising (0-3 months): Scammers develop a professional looking platform and promote it strongly on Facebook, Instagram and YouTube using fake success stories.
Get confidence (3-6 months): They allow small retreats to make users feel safe.
BLOCK ADDRESS (6-9 MONTHS): When large amounts are invested, they create “technical errors” or “political changes.”
The disappearance (9-12 months): The app disappears with all user funds – only to reappear under a new name later.
To deceive users, these scams use several psychological and digital tricks:
False endorsements to celebrities to build credibility.
Referral programs that offer bonuses to invite others.
High -pressure tactics that encourage users to “invest now before it’s too late.”
False customer support that delays or denies requests for withdrawal.
Fabricated graphs and surplus dashboards showing unreal earnings.
The result: A false sense of security that eventually collapses, leaving the entire community in financial ruin.
The human costs
In Gilgit and Skardu, local WhatsApp groups and Facebook pages are filled with stories of loss and regret. Many victims had invested money saved for children’s education, dowry or small businesses.
A school teacher from Skardu shared that he lost RS200,000 and thought it was “a chance to earn passive income.”
“Everyone did,” he said. “They showed us screens of profits. I thought it was the future.”
For families in a region where monthly incomes often range between RS20,000 and RS40,000, these losses are devastating. Some victims even borrowed money to invest and expected quick returns that never came.
Weak supervision, growing threat
Pakistan’s digital economic ecosystem has quickly expanded in recent years – from mobile wallets to online investment platforms. However, regulatory supervision and public attention have not kept pace.
In many cases, the scammers operate from abroad or use cryptocurrency-based systems that bypass Pakistan’s traditional bank framework. This makes the investigation and recovery of funds almost impossible.
“The lack of coordination between regulators, telecommunications authorities and digital platforms allows fraudsters to exploit users,” says a financial analyst at Islamabad. “Without digital literacy and stronger enforcement of the State Bank of Pakistan, SECP and FIA’s cybercrime wing, people will continue to fall into these traps.”
Building Digital Resistance
Experts suggest that Pakistan’s regulatory organs, industry players and digital service providers must work together to create a more secure online environment.
Stronger regulation:
All investment apps must be registered with recognized authorities such as SECP or international regulators such as FCA (UK), SEBI (India) or ASIC (Australia).
Public Consciousness:
Regular attention campaigns – in Urdu and regional languages - should educate citizens on digital fraud, secure payment methods and secure online practice.
Verification Tools:
Telecoming companies and banks should give users easy tools to check if an investment platform is licensed.
Industrial Responsibility:
Social media platforms must act faster to block fake ads and pages that are once reported.
Community Education:
Local schools, colleges and NGOs in Gilgit-Baltistan can play a role in integrating digital literacy into their social programs.
What you can do
If you suspect an app or investment option is false:
Check its license with SECP or other regulators.
Avoid unrealistic promises of “guaranteed” profits.
The research company’s details and contact numbers.
Read real user reviews, not just sponsored.
Test withdrawals before large deposits.
Report fraud to FIA Cyber Crime Wing and your bank.
Warn others on social media to help prevent further victims.
A precautionary narrative for the digital age
Gilgit-Baltist’s people are resilient-they have survived harsh winters, natural disasters and insulation for decades. But now they face a new kind of challenge: Digital deception.
For victims like Shazia Nazir, the experience is a painful reminder that financial dreams can disappear as quickly as a downloaded app.
“I wanted to support my family,” she says. “Instead, I learned the hardest lesson – never trust in light money.”
The emergence of digital fraud such as Whale International Binance emphasizes a national topic: When Pakistan moves towards a cashless future, the need for digital security, literacy and trust has never been greater.
If something online sounds too good to be true it is probably.
Stay aware, stay informed and protect your digital wallet before it’s too late.
