Cybercrime officers in Uzbekistan have shut down a major illegal cryptocurrency operation in the capital, exposing a scheme that processed transactions worth hundreds of thousands of dollars.

The operation was dismantled in Tashkent’s Yashnabad district, where cybercrime officers identified a 22-year-old suspect from the Syrdarya region who had set up an underground crypto trading business, The Caspian Post reports via Uzbek media.

What makes the case striking is its simplicity: the entire operation was run from a smartphone. During a search, investigators discovered that the suspect used an iPhone 17 Pro to manage accounts on major crypto exchanges like Bitget and HTX.

Through active peer-to-peer (P2P) trading conducted outside the legal framework, he processed transactions totaling more than $556,000 - equivalent to over 6.7 billion Uzbek soums.

The suspect reportedly admitted involvement but claimed he was unaware of strict regulations requiring special licenses for crypto trading in Uzbekistan.

However, cybercrime officers made it clear that ignorance of the law does not exempt individuals from responsibility.️

A criminal investigation has been opened under Article 278-8 of the country’s Criminal Code, which covers violations related to the circulation of crypto assets.

The court has already ordered the suspect to be held in custody pending investigation.