Chinese national arrested for doing crypto business worth more than Rs 17 crore in Kathmandu

Kathmandu. Kathmandu Police has arrested a Chinese national for trading in crypto currency worth more than Rs 17 crore 79 lakh.

According to Kathmandu District Police, the arrested Chinese national Zhu Yi Feng, 35, was living in Thamel, Kathmandu. He lured Nepali citizens into his confidence through various social media platforms and defrauded them using their bank accounts. He used to do business by converting this amount into crypto currency.

Kathmandu Police spokesperson SP Pawan Bhattarai said that based on specific information, the team of District Police Kathmandu arrested him from Thamel. Crypto currency equivalent to Nepalese rupees 17 crore 79 lakh 70 thousand 371, 3 mobile phones and documents related to money remittance written “Internal Express” were recovered from him.

SP Bhattarai said that further investigation is being done against the person arrested in this case by taking permission from Kathmandu District Court to extend the remand for 5 days.