Crypto Con Gone Wild: Chinese National Scams Nepal for NR 179.97M

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Key Highlights

  • Zhu-Yi-eng, a Chinese national, arrested in Kathmandu for a crypto scam worth NR 179.97 million. Surprise, surprise!
  • Police found everything: transaction records, mobile phones, and more documents than a DMV office.
  • Suspect under judicial custody-because apparently, it’s time for a vacation… in jail.

In a plot twist worthy of a bad spy movie, a Chinese national was caught red-handed in Kathmandu, Nepal, after masterminding a multi-million rupee cryptocurrency scam. It all came to light on April 3, as local police-who are clearly having a good month-announced the arrest of Zhu-Yi-eng, the 35-year-old fraudster who had his hands deep in the digital cookie jar.

Zhu-Yi-eng was nabbed by the Kathmandu District Police Circle team in the infamous Thamel area, which is basically where all the shady deals happen, right next to the souvenir shops. Police spokesman Pavan Kumar Bhattarai spilled the beans, letting the world know that a cool NR 179.97 million (no, that’s not a typo) was tied to this whole crypto caper. And they didn’t stop there-oh no-they also grabbed three mobile phones, because clearly, those are the real evidence these days, and a stack of documents that probably looked more like a poorly-kept filing cabinet than criminal evidence.

Social Media: The New Underworld

It turns out that Zhu, like every modern villain, didn’t bother with old-school scheming. No, no-he took the high-tech route: he slid into people’s DMs. Social media platforms became his hunting ground, where he presented himself as a trustworthy “investment guru” offering tempting cryptocurrency opportunities. Spoiler alert: it was a scam. Who would’ve thought?

Apparently, Zhu’s pitch was too good to resist. The man used the growing hype around digital assets to prey on the unsuspecting Nepali public, making promises that only the most gullible would believe. If this were a reality show, we’d have a lot of people voting “eliminated” on this scam.

The Investigation: Stay Tuned for More

And as the drama continues, the Kathmandu District Court placed Zhu under judicial remand, a five-day vacation, while they figure out just how deep this rabbit hole goes. Spoiler: It’s probably deeper than his social media strategy.

So far, police are keeping things mysterious. They haven’t fully revealed how big the scam actually was, or if there are other players in this game. They’re also scrutinizing all that digital evidence, which is probably more complicated than a toddler with a Rubik’s cube.

Meanwhile, India Joins the Fraud Party

Not to be outdone, neighboring India is also dealing with its own crypto drama. In Ahmedabad, six individuals were arrested for their involvement in 41 cyber fraud cases across various states. Total damage? Around ₹1.5 crore. As if that wasn’t enough, Bhopal lost ₹18.5 lakh in a similar scam. And just to keep the fraud fiesta going, Pune reported scams worth ₹3.8 crore. These crooks have been busy, folks!

Don’t Get Duped-Use Your Brain

This isn’t the first-and it certainly won’t be the last-cryptocurrency scam in the region. Cross-border actors and online platforms are thriving in the world of digital deception. So, if anyone promises you crazy returns for doing nothing, just remember: if it sounds too good to be true, it probably is.

Stay tuned for more updates, and until then, try not to get scammed. Seriously. It’s exhausting to keep up with all this fraud.

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2026-04-03 20:37