A court in Kazakhstan’s Kyzylorda Region has convicted people who organized an illegal crypto exchange and laundered criminal proceeds, the country’s Agency for Financial Monitoring reported.
Investigators said they traded cryptocurrency through Binance’s P2P platform outside the Astana International Financial Centre’s trading venues and without the required authorization. They sold digital assets worth more than 1 billion tenge, earning 178 million tenge from the illegal exchange.
One of the defendants laundered money from drug sales. Drop accounts were used to receive and transfer the funds, with their owners providing bank accounts. The total value of these transfers exceeded 600 million tenge.
