JawaEye, an online investment app claiming to be based in Indonesia, is accused of defrauding thousands of Pakistanis out of their hard-earned money, with estimates ranging up to Rs. 25 billion.
The app allegedly ran a Ponzi scheme, luring unsuspecting users with the promise of large profits. The app was available on Google Play, but its primary mode of operation was through its website, which required users to invest at least Rs. 15,000 as a sign-up fee.
The Google Play version of the app was most likely intended to gain customer trust, but its description was suspicious, claiming to be a popular film and television platform used in 106 countries, among other things.
This was revealed by a cached version of the app’s Google Play page. Numerous YouTube videos, totaling millions of views, promoted the app as a legitimate earning opportunity. Furthermore, several Facebook groups were formed to entice people to sign up for the app.
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