Chinese National Arrested in Kathmandu for Cryptocurrency Fraud

A Chinese national has been taken into custody in Kathmandu for his alleged involvement in a large-scale cryptocurrency fraud scheme.

According to the District Police Range, Kathmandu, 35-year-old Zhu Yi Feng was arrested on Thursday from the Thamel area. Preliminary investigations have revealed that Feng would establish contact with Nepali citizens through various social media platforms, gaining their trust through various inducements.

The suspect is accused of using bank accounts of Nepali citizens to collect defrauded funds and subsequently converting them into cryptocurrency. Police discovered records indicating that the suspect had conducted cryptocurrency transactions totaling 177.9 million rupees.

In addition to the large-scale illicit operation, police also seized three mobile phones and various documents labeled 'International Express' used for transferring funds from Feng's possession.