Khalid said he tracked Khan’s account himself, where the hackers shared a link to the cryptocurrency with his 7.4 million followers.
Khalid said the hackers also shared a screenshot of a tweet from Tesla chief executive Elon Musk.
Fraudsters often impersonate a billionaire to cash in on his interest in cryptocurrencies.
The former prime minister’s Instagram account shared a post praising Tesla Motors founder Elon Musk for “donating” three bitcoins.
Khan’s Instagram profile also featured a story with a screenshot of Musk’s tweet about winning $100,000.
Discover stories that interest you
A verified PTI chairman account thanked the Space X boss in a story posted by the hackers.
The same story was also published as an Instagram post, which has now been deleted.
The alleged tweet from Musk’s account could not be found on his official username.
Khan is not the only PTI member whose account has been hacked this year, according to the Pakistan Observer.
Last week, PTI General Secretary and former Federal Planning Minister Asad Umar’s Twitter account was hacked. The account was restored within a few hours.