Nepalese Man Arrested for Alleged Crypto Scam Worth Over 14 Million Rupees

Nepal Police have arrested a 25-year-old man accused of conducting illegal cryptocurrency transactions worth more than Rs 14.8 million.

Mukesh Prajapati, from Madhyapur Thimi-5 in Bhaktapur, was detained by the Kathmandu District Police Range and presented to the media on Friday.

Prajapati allegedly used social media to lure people with various schemes, defrauding them, and converting their proceeds into cryptocurrency for illicit transactions.

Police found that Prajapati carried out cryptocurrency transactions worth Rs 14,876,527.46 and recovered digital assets worth $7,485 (approximately Rs 1.14 million) from his various accounts.