Chitwan Police Arrest Man Over Illegal Online Betting, Crypto Trading Worth Nearly Rs 9 Million

 

Kathmandu. Chitwan District Police Office has arrested a man from Bharatpur on charges of operating an illegal online betting business and engaging in unlawful cryptocurrency trading.

The arrested individual has been identified as 44-year-old Narayan Shrestha of Kholesimal, Kalika Municipality-6, Chitwan.

According to police, Shrestha was apprehended in Bharatpur on 10 July following a special tip-off. Investigators allege that he had been facilitating illegal online betting transactions while also trading cryptocurrency in violation of Nepal's laws.

Police recovered two mobile phones from Shrestha—a Redmi smartphone and an Apple iPhone. Examination of the Redmi device revealed the Mobcash application, which authorities say was being used to load and withdraw funds for online betting platforms.

The Mobcash account reportedly had an EPOS limit of around Rs 280,000 and a balance of approximately Rs 1.382 million. Police said transactions worth more than Rs 3.895 million had been conducted through the account over the past three months.

Meanwhile, analysis of the recovered iPhone found the Binance cryptocurrency exchange application. Police said the Binance account recorded transactions exceeding USD 33,150.33 (more than Rs 5.09 million).

Based on preliminary findings, investigators estimate that Shrestha carried out illegal digital financial transactions totaling more than Rs 8.99 million, combining the three-month Mobcash transactions with the cryptocurrency transactions conducted through Binance.

Police said Shrestha has been remanded into custody with permission from the Chitwan District Court for further investigation under charges related to illegal virtual currency (cryptocurrency) transactions and online betting.

Both online betting and cryptocurrency trading are prohibited under Nepal's existing laws. Police said they have intensified surveillance and enforcement as technology-enabled financial crimes continue to increase across the country.

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