Two illegal cryptocurrency traders detained in Namangan

Law enforcement officers in Namangan region have stopped the illegal circulation of large amounts of cryptocurrency, the press service of the regional Department of Internal Affairs reports.

According to the information, law enforcement officers detained a 24-year-old resident of Kosonsoy district who, from March 2 to May 19, 2025, committed 35 illegal cryptocurrency transactions totaling 542 million soums. The young man performed all operations through the Binance platform without having a corresponding license.

During the arrest, law enforcement officers seized his iPhone 11 as material evidence. Also, as part of the raid, law enforcement officers detained another resident of the Naryn district who was also engaged in illegal cryptocurrency operations.

The man also committed 35 illegal transactions with crypto assets worth 1.71 billion soums between May 20 and November 29, 2024. Law enforcement officers also seized his Poco F3 as material evidence. Law enforcement officers initiated criminal cases under Article 278-8 (violation of legislation in the field of crypto-asset circulation committed on an especially large scale) of the Criminal Code of the Republic of Uzbekistan. Investigative actions are underway.

Earlier, it was reported that law enforcement had terminated the criminal case against the 17-year-old “crypto trader” from Bukhara. The teenager was also returned with his phone, which he used to trade cryptocurrency on Binance.