Young man involved in circulating $556,000 worth of cryptocurrency detained in Tashkent (video)

During operational search activities conducted by officers of the Yashnobod District Department for Coordination of Internal Affairs in Tashkent, a suspect was detained for carrying out illegal crypto-asset transactions exceeding 6.7 billion soums, the Tashkent City Main Department of Internal Affairs reported.

According to the report, during the investigation, the smartphone of a citizen born in 2004 in the Syrdarya region and currently residing in Tashkent was examined in the presence of witnesses. The device, identified as an iPhone 17 Pro, revealed that the suspect had been engaged in large-scale cryptocurrency transactions through various applications and accounts installed on the phone. It was established that the young man conducted illegal inflow and outflow transactions via P2P platforms, appropriating more than $556,000, equivalent to over 6.7 billion soums. Relevant documents have been compiled by internal affairs officers and submitted to the Yashnobod District Investigation Department.

“I carried out P2P operations on the HTX and Bitget cryptocurrency exchanges. At the time, I was not aware that these actions were illegal. Officers of the internal affairs bodies explained that such activities are unlawful and clarified the consequences. I now regret what I have done and do not intend to engage in such activities again,” the suspect said.

A criminal case has been initiated under Article 278-8 of the Criminal Code (violation of legislation regulating the circulation of crypto-assets). A pre-trial detention measure has been applied to the suspect. The investigation is ongoing.

It is worth noting that on February 18 this year, an illegal cryptocurrency turnover worth 3.5 billion soums was uncovered in Surkhandarya.

Shahzoda Shukurullayeva