Court in Karachi issued a non-bailable arrest warrant for Waqar Zaka

• A court in Karachi issued a non-bailable arrest warrant for Waqar Zaka.
• The warrants were issued after Zaka failed to appear in court.
• Last 3 years credits of Rs86.1 million and debt of Rs87.1m were observed.

In the Rs86 million cryptocurrency controversy case, a Karachi court issued a non-bailable arrest warrant for Waqar Zaka, a television broadcaster and social media activist.

The warrant was granted by a magistrate judge who was also hearing the case brought by the Federal Investigation Agency (FIA) based on a Financial Monitoring Unit report (FMU). The warrants were issued when Zaka, who had previously advocated for the legalisation of virtual currency in the nation, failed to show up in court.

The FIA claimed that over the past three years, a total of Rs 86.1 million in credits and Rs 87.1 million in debt had been shown in his bank account, and that some transactions had come from other nations.

“Whereas, the multiple news, blogs, and videos were found on a public database which transpires involvement of accused Waqar Zaka into cryptocurrency/virtual assets”, the agency alleged him in the case.

“During the inquiry, Bitcoin/cryptocurrency-related posts were found on his Twitter account, the accused also promotes cryptocurrency like Bitcoin”, it further alleged.

The FIA claimed that after the investigation was opened against him, he spread false information about the institutions on social media and incited the populace against the elected officials.

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