Organisers of an illegal crypto exchange have been convicted in the Kyzylorda region. Through the Binance platform they sold digital assets worth more than KZT 1 billion. One of the convicted individuals was also involved in laundering proceeds from drug trafficking.
HOW THE ILLEGAL CRYPTO EXCHANGE OPERATED
According to the Financial Monitoring Agency (FMA), the convicted individuals traded cryptocurrency through the Binance P2P platform without the required permission and outside the trading venues of the Astana International Financial Centre (AIFC).
The total volume of digital assets sold exceeded KZT 1 billion, and the income from the illegal activity amounted to KZT 178 million.
HOW DRUG TRAFFICKING PROCEEDS WERE LAUNDERED
The investigation also established that one of the convicted individuals laundered money obtained from the sale of drugs.
To carry out the transactions, droppers were engaged, who provided their bank accounts for receiving and transferring funds. The total amount of such transactions exceeded KZT 600 million.
The money was converted into cryptocurrency and sent to drug traffickers' wallets. The total volume of the identified transfers amounted to 277 thousand USDT.
WHAT THE CRIMINAL PROCEEDS WERE SPENT ON
The convicted individuals used the funds received to purchase lorries and trailers, registering the property in the names of close relatives.
The vehicles were subsequently used in commercial activity and leased to legal entities.
WHAT SENTENCE THE COURT IMPOSED
The court imposed 3 years and 2 years of restriction of liberty on the convicted individuals respectively.
4 units of special equipment were confiscated to the state's revenue, as well as criminal proceeds amounting to more than KZT 1 billion.
The verdict has entered into legal force.
CONTEXT
Earlier, the FBRK reported on a large-scale hacker attack on the cryptocurrency exchange Binance that occurred on 29–30 October 2026. The attackers withdrew digital assets worth around $6.3 billion. The US Federal Bureau of Investigation linked the attack to the North Korean group TraderTraitor.
On 3 November, North Korea rejected the accusations. The sister of the DPRK leader, Kim Yo Jong, called Washington's statements a political provocation.
