Seven Chinese Nationals Arrested in Butwal for Illegal Cryptocurrency Trading

 

Kathmandu. Police have arrested seven Chinese nationals in Butwal, Rupandehi, on charges of engaging in illegal cryptocurrency trading through various mobile applications and online platforms.

According to police, the arrests were made following information that cryptocurrency transactions were being conducted from a location in Ward No. 12 of Butwal Sub-Metropolitan City. A police team raided the site at around 1 a.m. on June 17 and took the suspects into custody.

Preliminary investigations found that the group was allegedly involved in unauthorized financial transactions using cryptocurrency platforms such as Binance, OKS, and INTOKEN, as well as Indian digital payment services including Paytm, Bhim, Mobikwik, and PhonePe.

Those arrested have been identified as 49-year-old Xiong Guofu, 43-year-old Hu Gang, 45-year-old Li Xuanhe, 36-year-old Sun Hui, 35-year-old Zhao Qiuchen, 31-year-old Xiang Jiashun, and 45-year-old Li Bin. Police have also released their passport details.

During the operation, authorities seized 11 mobile phones and two laptops allegedly used in the illegal trading activities.

Krishna Kumar Chand, spokesperson and Deputy Superintendent of Police at the District Police Office, Rupandehi, said further investigation and legal proceedings have been initiated against the seven individuals under laws related to virtual currency offenses.

Police have urged the public to avoid involvement in illegal cryptocurrency transactions and to report any suspicious or criminal activities to authorities.

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