Kathmandu police have arrested a Chinese national, Zhu Yi-eng, in connection with a cryptocurrency scam valued at nearly NRs 179.97 million. The arrest was made in the Thamel area of the capital on April 2, 2026.
According to Nepal Police, investigators seized transaction records, three mobile phones, and documents linked to the fraudulent activities. Zhu allegedly lured locals through social media platforms, promising high returns from cryptocurrency investments, and conducted illegal transactions.
The Kathmandu District Court has placed the suspect under a five-day judicial remand to allow further investigation into the case. Authorities are examining the extent of the scam and identifying potential victims.
Nepal has banned cryptocurrency trading, yet scams involving digital assets have continued to surface. Officials say this case highlights the growing risks of cross-border fraud networks exploiting online platforms.
The arrest underscores Nepal’s strict stance against unregulated crypto activities and raises concerns about the need for stronger regional cooperation to combat cybercrime and protect investors.
