TechFlow news, the Kazakhstan Financial Monitoring Agency (AFM) announced via Telegram that authorities have successfully blocked illegal cryptocurrency transactions totaling $75.4 million.
AFM stated they have "identified 18 crimes related to illegal cryptocurrency trading and mining." In 2024, Kazakh courts have issued six rulings on the "illegal buying and selling" of crypto assets. Investigators seized assets worth $2.51 million in these cases, and four offenders were sentenced to up to three-and-a-half years in prison.
In April this year, a Russian national was sentenced to two years in prison for illegally operating a cryptocurrency exchange in Kazakhstan. The exchange operated from 2020 to 2022. Authorities confiscated "proceeds of crime" valued at over $121,600 and froze $12.1 million in "criminal gains."
AFM emphasized that, to combat the growing number of IT-related crimes, they have established a special unit equipped with blockchain network monitoring capabilities. Additionally, AFM disclosed details of a cryptocurrency "pyramid scheme" named Eolus, recovering more than $500,000 in assets and involving approximately 2,500 victimized citizens nationwide.
