Crypto Trader Sagar Giri Arrested for Rs 4.33 Billion Transaction

Kathmandu. Sagar Giri, 29, a resident of Ward No. 11, Nagarjun Municipality, Kathmandu, is a crypto trader. Police investigation has concluded that the group led by Giri conducted transactions of 4 billion 337 million 80 thousand intangible currency 'crypto' during the 90-day investigation after his arrest on March 15, 2025.

The Kathmandu District Police Range investigated Sagar and his friend Pramod Dhital, a resident of Nagarjun-8, after their arrest. Based on the police investigation report, the Kathmandu District Court has ordered Giri to be sent to jail for pre-trial detention.

Dhital has been released after posting bail of 600,000. SP Pawan Bhattarai of the District Police Range Kathmandu told Ratopati that Giri was sent to jail for pre-trial detention as per the court's order on Wednesday.

The government attorney had filed a charge sheet on June 15, naming 14 individuals as defendants in the case. 12 individuals are on the wanted list. Giri led the 4 billion crypto transaction.

Giri has admitted to the investigation officers that he has been involved in crypto trading for the past 3 years. Police investigation has revealed that his team conducted transactions of 4 billion 337 million 80 thousand intangible currency 'crypto' in the last three years. Inspector Pappu Kumar Das led the team that investigated the matter.

From the proceeds of crypto trading, Giri had purchased taxis and Scorpios and rented them out. He operated a 'Nursery Khaja Ghar and Restaurant' near his house in his parents' names. However, he claimed to the investigation officers that his parents operated the restaurant.

He had given a taxi purchased in his mother's name to Pramod Dhital to drive. Pramod and Sagar are childhood friends. Pramod told the police that he pays Rs 3,500 daily to Sagar's family for the taxi numbered Bagmati Province-01-002 Ja 7574, registered in Sagar's mother's name.

Sagar himself used to drive the Scorpio. He told the investigation officers that he earned income from renting out the Scorpio. Police had recovered 11.6 million rupees from his house. Regarding the amount, he told the investigation officers, 'After looting and arson at banks during the Gen Z movement, I started keeping the money at home.'

Machine for Counting Money

Sagar Giri, who conducted billions in transactions through Binance ID, MEXC ID, and Trust Wallet, had even purchased a machine for counting money. A team from the District Police Range Kathmandu recovered a 'cash teller machine' from his house. Regarding the machine, he stated in his statement, 'I bought the cash teller machine thinking it might be needed at the restaurant.'

Transactions of USDT worth 1.97 billion rupees were found from Sagar and Pramod's accounts alone. Transactions of the remaining amount were found to have occurred through the accounts of the other 12 individuals.

The government attorney has named Nilam Gupta from Rupandehi, Samjhana Chaudhary, 28, from Morang, Binod Sahu, 23, from Banke, Firoz Ahmed Mia Thakurai, 37, from Bara, Akshay Kalwar, 27, from Rupandehi, Vishal Thakur from Jhapa, and Siddharth Bharti, 24, from Kavre as defendants.

Similarly, Papu Sah, 28, from Sarlahi, Pritam Karki, 30, from Gulmi, Sajina Giri, 25, from Nawalparasi East, Ujjwal Gurung from Lamjung, and Ganga Giri, 48, residing in Nagarjun, have been named as defendants. All of them are absconding defendants.

Against them, claims have been made for punishment for the offense of not using intangible currency and for the offense of money laundering.