Kazakhstan Shuts Down Bitcoin Exchange with $1.35 Million Revenue

In the city of Kostanay, authorities have halted the operations of an unlicensed cryptocurrency online exchange. This was reported by the AFM. 

According to the case materials, since 2020, two Kazakhstani citizens have been processing user requests through a cryptocurrency exchange website they created.

During a search, law enforcement officers seized system units, laptops, and mobile phones with cryptocurrency exchange applications. They also gained access to the website’s infrastructure and the entrepreneurs’ exchange accounts. 

The suspects’ property and digital assets have been seized. The illegal income amounted to nearly $1.35 million. 

The investigation is ongoing.

In late February, in Astana, the organizer of the local branch of the Eolus cryptocurrency pyramid was sentenced to six years. 408,000 USDT were confiscated for the state.