Kazakhstan police describe fraud linked to selling cryptocurrencies

Since the start of 2021, Kazakh law enforcement agencies have registered 19 cases of cryptocurrency-related fraud, according to «Казинформ» citing a briefing by the Ministry of Internal Affairs.

The case concerns promises by criminals to sell digital assets and to extract money from victims supposedly for their purchase. Law enforcement did not identify any actual illegal cryptocurrency operations, emphasized Sanjar Adilov, head of the Investigative Department.

“Fraudsters spread false information that by purchasing cryptocurrency one can quickly earn profits of 30% to 100% of invested funds, and urge citizens to transfer money to their accounts.”

Earlier, in Kazakhstan’s Astana International Financial Centre (AIFC), it was proposed to set for retail investors limits on purchasing cryptocurrencies.

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