Two individuals under investigation in Navoi for illicit crypto-asset transfers abroad

Navoi regional authorities have uncovered illegal activities involving cryptocurrencies valued at nearly $2.5 million, carried out by two individuals who converted funds into crypto-assets and transferred them abroad.

The Cybersecurity Center of the Navoi regional department detected these unauthorized operations.

In one case, a 27-year-old man traded on an online crypto exchange without the required license. Through the platform, he conducted unauthorized acquisition, transfer, and exchange of crypto-assets totaling over 8 billion UZS (approximately $650,000).

During a separate raid, a 27-year-old woman was found engaging in similar violations. She carried out illegal financial transactions using crypto-assets and utilized foreign electronic platforms to generate income, exchanging assets worth more than 22 billion UZS (approximately $1.8 million).

Investigations revealed that the funds on the bank cards used by both individuals were primarily converted into crypto-assets on exchanges and subsequently transferred abroad.

Criminal proceedings have been initiated under Article 278-8 of the Criminal Code, which covers violations in the field of crypto-asset circulation. Preliminary investigative measures are currently underway.