Making it easy and safe to Buy and Sell Bitcoin in Pakistan : BTCPK.NET Expands

Wifi WPA2 Security Cracked: ” KRACK ” attack puts nearly every Android and Apple device at risk
October 17, 2017
Bad Rabbit Ransomware spreads across countries -WannaCry and Petya Variant
October 24, 2017

Making it easy and safe to Buy and Sell Bitcoin in Pakistan : BTCPK.NET Expands

btcpk.net expands the fraud protection and customer support teams, moves to its new offices in Islamabad.

btcpk.net, a peer-to-peer marketplace, provides users quick access to bitcoin in Pakistan, which is faster and more convenient than the typical cryptocurrency exchanges. The system was designed from the ground up to automate most of the processes and make it buying and selling of btc easy for Pakistani customers.

But, this Pakistani bitcoin company goes one step further than simply connecting users who need bitcoin with potential bitcoin providers.

btcpk.net also performs fraud screening and provides customer support for all of the transactions placed through its web portal in Pakistan.

Similarly to the marketplace automation, btcpk.net performs various automated fraud checks for each transaction to protect its Pakistani customers. However, even the most sophisticated automated fraud defenses are vulnerable to social engineering attacks, where the user is tricked by a scammer into willingly giving away his or her personal information.

Tier3 identifies social engineering fraud as one of the fastest growing fraud trends. Combined data collected by international law enforcement agencies indicate that losses from social engineering fraud exceeded $1.2 billion in 2016 only.

Explaining Bitcoin fraud happening in Pakistan to Tier3, Btcpk.net said that  a typical social engineering attack  in Pakistan would begin with an unknown person calling a victim at home and posing as an employee of a well-known company, such as Facebook, Google or some Pakistani company. The scammer would then inform the victim that the latter had some problem with his or her computer or Facebook account or email account, and convince the victim that it needs to be repaired.

In the process of “fixing” the computer or account, the imposter would say that a payment has to be made. The unsuspecting victim would pass all the verification steps as instructed by the scammer and make the payment to receive bitcoin. And as expected, the scammer would then withdraw that bitcoin into his wallet. There are also other victims of MLM and ICO scams that face similar circumstances.

Bitcoin exchanges that offer users the ability to buy bitcoin with credit card or another payment method are primary targets for these attacks, as cryptocurrency can be easily converted to cash.

Similar types of fraud as the one mentioned above are undetectable by automated systems, as all victim’s information is in order and the user’s IP address, email address, or device fingerprint are not previously reported in other scams. To combat the social engineering fraud, btcpk.net employed additional fraud screening personnel, which places confirmation telephone calls to all first-time users to verify that they have indeed authorized a payment in order to receive or send bitcoin.

The new customer support and fraud protection team is now located at the new office in Islamabad.

As a result of the expansion of the support team, the company’s average support response time has been significantly reduced. Now, users get responses to their inquiries in no longer than 24 hours, often much quicker. This makes btcpk.net support among the best in the Pakistan bitcoin market, where much longer support response times are the norm.

The company’s automated fraud checks and the expanded fraud protection team virtually eliminate all incidences of fraud on  platform, making it one of the the safest bitcoin marketplace in Pakistan. Adding to good news BTCPK.net confirmed that now users in Pakistan can easily buy Bitcoin, bitcoin cash, bitcoin gold and ethereum from their online exchange.

About BTCPK.NET

BTCPK.NET is a privately held company based in Islamabad,Pakistan. By leveraging crypto currency technology and implementing exceptional user experience, btcpk.net makes bitcoin available to anyone  in Pakistan quickly and with superior convenience.

https://btcpk.net

Leave a Reply