FBC Platform: How Did Millions Vanish in the Most Dangerous Digital Scam?

Egyptian investigations have revealed shocking details about one of the largest online fraud operations that has rocked the Egyptian community in recent days. The FBC platform lured hundreds of victims with promises of profitable investments before disappearing with their money in a sophisticated scam.

The story began when 310 Egyptians filed official complaints against the operators of the FBC application, accusing them of deceiving them by promising them the possibility of investing their money for quick profits.

The victims responded and deposited their money, only to be shocked later when their balances, exceeding 8 million Egyptian pounds (around 160,000 US dollars), were frozen before the application was completely shut down.

Following the disappearance of users' funds, the platform operators claimed that they were subjected to a cyber-attack that caused it to stop working. They alleged that they had informed the National Center for Computer and Network Emergency Readiness, a claim that was completely denied by the agency.

Meanwhile, authorities managed to identify several individuals involved and access the digital wallet numbers to which the funds were transferred.

The prosecution also ordered the examination of promotional videos of the platform circulating on social media as a prelude to pursuing those involved.

In a new development, authorities arrested 12 Egyptian suspects, along with a Chinese and a Japanese suspect, including four who appeared in the platform's promotional videos.

A decision was made to detain the suspects for four days as a precaution, while their funds were seized and the devices found in their possession were examined.

Investigations revealed that the platform was merely a facade for a massive fraud operation, managing to steal around 2 million pounds from users under the guise of investing in software and e-marketing.

The biggest surprise was that this operation was not only local but led by three foreigners in Egypt, connected to an international network specializing in electronic fraud.

These individuals enlisted 11 Egyptians to establish a fake company in Cairo, tasked with promoting the platform through social media and WhatsApp in exchange for financial commissions.

They also provided registered phone lines with fake data to activate electronic wallets used to receive and transfer embezzled funds without leaving a clear trace.

This was not the first operation of its kind, as Egyptian authorities had repeatedly warned citizens against dealing with unknown applications broadcasted online, claiming to generate quick profits.

Despite the warnings, many victims fell into the trap, only to find themselves facing a harsh reality: their money vanished, and the platform disappeared!