Waqar Zaka rejects cryptocurrency scam claims following non-bailable warrant

• Non-bailable arrest warrant issued for social media activist Waqar Zaka.
• The warrants were issued after Zaka failed to appear in court in Karachi.
• Zaka made the announcement that he will pursue a defamation lawsuit.

After a Karachi court issued a non-bailable arrest warrant for him in the Rs173 million cryptocurrency scandal case, Waqar Zaka, a television host and social media activist, denied charges that he was involved in a cryptocurrency scam on Friday.

The warrant was issued earlier today while a court magistrate was hearing the case brought by the Federal Investigation Agency (FIA) based on a report from the Financial Monitoring Unit (FMU). The warrants were obtained because Zaka, who advocates for Pakistan to recognise virtual currencies as legal cash, did not show up for 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.

Zaka told the media that the Federal Board of Revenue (FBR) had his whole net worth on file, and he said that the FIA Cyber Crime was attempting to show that money that had been brought into Pakistan legally was fraudulent.

He questioned whether someone uses banking channels to bring their money to Pakistan when they perform money laundering. He said that money was wired to his account through a banking channel for international remittances.

While still in the US, Zaka made the announcement that he will pursue a defamation lawsuit against all digital sites, including Dawn, for spreading false information about him.

Filing defamation against all digital platforms posting fake news against me specially @dawn_com , this time I will make sure that any social media news platform posting incorrect news should be punished

— Waqar Zaka (@ZakaWaqar) December 23, 2022

“Filing defamation against all digital platforms posting fake news against me specially @dawn_com , this time I will make sure that any social media news platform posting incorrect news should be punished,” he wrote on Twitter.

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