Seven Chinese Nationals Arrested in Butwal for Illegal Cryptocurrency Trading

Kathmandu. Police have arrested 7 Chinese nationals on Thursday on charges of engaging in cryptocurrency trading, which is prohibited by law, from Butwal, Rupandehi.

According to the District Police Office Rupandehi, police raided the area of Butwal Sub-Metropolitan City-12 based on special information that Chinese nationals had been conducting intangible currency (cryptocurrency) trading through various mobile apps and websites for some days.

A police team dispatched from the Area Police Office Butwal arrested them red-handed while they were conducting transactions.

Those arrested include 49-year-old Zhihong Guofu, 43-year-old Hu Gang, 45-year-old Li Xuanhe, 36-year-old Sun Hui, 35-year-old Zhao Qiuchen, 31-year-old Xiang Jiasun, and 45-year-old Li Bin.

According to the police, they were conducting cryptocurrency trading using apps and platforms such as Paytm and PhonePe.

Police have also recovered 11 mobile phones and 2 laptops of various companies from their possession.

Information Officer of the District Police Office Rupandehi, Deputy Superintendent of Police (DSP) Krishnakumar Chand, informed that further investigation is underway on those arrested.