Tashkent Police Disrupt Illegal Crypto Asset Scheme

Tashkent, Uzbekistan (UzDaily.com) — Law enforcement authorities in Tashkent have disrupted the activities of an organised group suspected of involvement in the illegal circulation of crypto assets.

According to investigators, the volume of transactions conducted through illegal P2P operations exceeded 1.5 million USDT, equivalent to approximately US$1.5 million.

The operation was carried out by officers of the State Security Service, the Main Department of Internal Affairs of Tashkent, and cybercrime units. During searches, investigators seized bank cards, mobile phones and electronic storage devices from the suspects.

Investigators found that the group used social media to promote investment platforms promising high and easy returns. Images of government officials and well-known individuals were used in advertising materials to increase credibility among potential users.

The investigation also revealed that more than 100 citizens of Uzbekistan were taken to Kazakhstan, where bank cards were issued in their names. According to law enforcement authorities, these cards were later used by third parties to conduct crypto asset transactions.

Authorities said the organisers of the scheme were foreign fraudsters, while some Uzbek citizens were involved in its implementation, not always fully aware of the nature of their activities. Some detainees reportedly admitted participating in the scheme in exchange for high earnings and later expressed regret.

A criminal case has been opened against the suspects under an article relating to violations of legislation on the circulation of crypto assets on a particularly large scale. The suspects have been placed in custody during the investigation. If found guilty, they face between three and five years in prison.

The Tashkent City Department of Internal Affairs urged citizens not to trust promises of quick wealth on social networks and reminded the public of legal responsibility for participation in illegal financial schemes.

Authorities also warned that handing over bank cards registered in one’s own name to third parties may result in involvement in unlawful activities.