Sunilkumar Yadav, a 28-year-old resident of Sabaila Municipality-12 in Dhanusha district, has been arrested on charges of conducting illegal cryptocurrency transactions worth more than Rs 2.16 billion through online betting applications. The arrest was carried out by the Kathmandu Valley Crime Investigation Office with the support of the District Police Office, Dhanusha, and Yadav has been kept in police custody. The case was reported by RatoPati, Khabarhub and Ajako Artha.

According to police, the transactions carried out by Yadav amount to Rs 2,16,01,20,821, a figure of just over Rs 2.16 billion. Investigators say the money moved through a Binance ID and various electronic platforms, and that the transactions were linked to online betting apps. Since both cryptocurrency dealing and online betting are prohibited in Nepal, the case brings together two activities that law enforcement agencies have been monitoring closely in recent years.

The Scale and Method of the Transactions

The figure cited by police represents the cumulative value of transactions that Yadav is alleged to have carried out, rather than a single transfer. In the Nepali numbering system, Rs 2,16,01,20,821 equals roughly Rs 2 arab 16 crore 1 lakh 20 thousand 821, a sum that places this case among the larger crypto-related enforcement actions publicized by the police in recent memory.

Central to the case is the use of a Binance ID. Binance is one of the world's largest cryptocurrency exchanges, and an account on the platform allows users to hold, buy and transfer digital currencies, often across borders, without routing the money through the traditional banking system. Police have said Yadav used this ID along with various electronic platforms to move the funds, although the full list of platforms has not been made public.

Key facts at a glance

  • Accused: Sunilkumar Yadav, 28, of Sabaila Municipality-12, Dhanusha
  • Transaction value: Rs 2,16,01,20,821 (over Rs 2.16 billion)
  • Channels alleged: Binance ID and various electronic platforms
  • Stated context: transactions conducted through online betting apps
  • Arresting units: Kathmandu Valley Crime Investigation Office, supported by District Police Office, Dhanusha
  • Current status: in police custody

The alleged link to online betting apps is a significant element of the case. It indicates that the digital currency transactions were not merely private trading activity, but were channeled through applications associated with wagering, which carries its own legal implications in Nepal.

A Coordinated Arrest in Dhanusha

Although the investigation is being driven from Kathmandu, the arrest itself took place in Dhanusha, where Yadav resides. The Kathmandu Valley Crime Investigation Office, the police unit that handles serious and complex criminal investigations, led the operation, while the District Police Office, Dhanusha, provided ground support. This coordination between a capital-based investigative unit and district-level police enabled officers to locate and detain the 28-year-old in his home municipality of Sabaila.

Yadav is currently in police custody, where he is expected to be questioned further as investigators work to establish the full picture of the transactions attributed to him.

Why the Transactions Are Illegal in Nepal

Cryptocurrency trading is not legal in Nepal. The Nepal Rastra Bank has repeatedly warned the public that dealing in virtual currencies is a punishable offense, and banks and financial institutions are barred from facilitating crypto transactions of any kind. Because there is no legal avenue to buy or sell digital assets within the country, Nepalis who engage in crypto activity do so through foreign platforms such as Binance, placing those transactions outside the country's regulatory framework and exposing them to enforcement action.

Online betting is also prohibited in Nepal, and authorities have cautioned against the use of betting applications and websites. Moving money for gambling through digital and crypto channels adds a further layer of illegality, which is why cases that combine the two attract particular attention from the police.

In recent years, Nepali police have arrested a number of people across the country for trading in digital currencies and for operating related digital transaction networks. The charge against Yadav, conducting cryptocurrency transactions worth more than Rs 2.16 billion, is notable both for the size of the amount and for its alleged connection to betting apps.

What Happens Next

Yadav remains in police custody while the investigation continues. Police have not yet made public further details, including whether the funds have been traced to their sources and destinations, whether any assets have been frozen, or whether other individuals are suspected of involvement in the transaction network. Those aspects are likely to become clearer as questioning proceeds and the case moves toward legal action under prevailing laws.

For now, the case underscores the scale that informal digital financial channels can reach. That transactions attributed to a single 28-year-old in a Madhesh district could total more than Rs 2.16 billion illustrates how much value can flow outside the formal banking system, and it reflects the increasing attention that Nepal's law enforcement agencies are directing toward cryptocurrency activity and online betting platforms.