Five arrested in Pokhara for illegal cryptocurrency trading, online gambling

POKHARA: Five youths have been arrested in Pokhara on charges of involvement in illegal cryptocurrency trading and online gambling.

According to District Police Office, Kaski, the youths were arrested from a house at Anupam Tol in Pokhara-14.

All the suspects are from Myagdi district.

Acting on a tip-off, a joint team from the Gandaki Provincial Police Office and District Police Office, Kaski, led by DSP Shyam Babu Oli, conducted the raid and arrested the suspects on Friday evening.

Speaking at a press meet on Sunday, DSP Basanta Kumar Sharma, the spokesperson for the District Police Office, Kaski, said that the suspects had opened bank accounts in their own names and in the names of their relatives to conduct illegal transactions. “Our investigations have revealed that transactions worth Rs 300 million were conducted – Rs 150 million in online gambling and Rs 150 million in cryptocurrency trading – through platforms like WhatsApp, Telegram, Cash App, and Crime App,” DSP Sharma said.

Police have recovered 31 mobile phone sets, two computer monitors, three CPUs, four laptops and other equipment, along with Rs 72,500 in cash from the suspects.

They have been charged with using cryptocurrency and engaging in gambling or betting,” DSP Sharma added.