Tashkent, Uzbekistan (UzDaily.com) —  The press secretary of Uzbekistan’s Ministry of Internal Affairs, Shokhrukh Giyasov, commented on reports circulating on social media about a 17-year-old from Bukhara Region allegedly being prosecuted for "earning" a large sum in cryptocurrency.

"In reality, this young individual was engaged in activities typical of a regular ‘virtual currency dealer’," he stated.

Earlier, reports emerged about the detention of the teenager by the Cybersecurity Service of the Bukhara Region Department of Internal Affairs in the Jondor district. The investigation pertains to violations of legislation concerning cryptoassets.

Milliy TV reported that the young man had earned cryptocurrency equivalent to 34 billion soums (approximately US$2.64 million) "without holding the necessary license."

"It is no secret that Telegram hosts numerous closed (anonymous) channels and groups where people promote the buying and selling of cryptocurrency. In these channels, ‘sellers’ and ‘buyers’ exchange information and conduct ‘virtual currency exchanges,’ converting electronic money into cryptocurrency or vice versa," noted Shokhrukh Giyasov.

He explained that intermediaries charge a commission of 0.1–2% of the transferred amount for such services, with higher fees applied for greater transaction anonymity. Platforms like Binance are used by "virtual currency dealers" for these operations, enabling cryptocurrency exchanges or conversions into fiat currencies (dollars, euros, rubles, etc.).

The press secretary added that such platforms are easy to use, accessible even to those with minimal knowledge of IT or cryptocurrency.

"Today, major fraudsters and organized crime groups involved in drug trafficking, arms dealing, human trafficking, and child pornography primarily conduct their transactions through anonymous cryptoassets. Terrorist organizations also use cryptocurrency to raise funds. This is due to the anonymity and speed with which cryptocurrency allows money to be transferred anywhere in the world," Giyasov explained.

He emphasized that "virtual currency dealers" could be either conscious or unintentional intermediaries in such illegal activities. "Government oversight and compliance with all regulations are essential in this process," he added.

The suspect, identified as Z.M., conducted over 4,000 suspicious intermediary transactions through Binance within seven months, amounting to 34 billion soums and earning commissions in the process. "It is clear that the 34 billion soums are not the earnings of a ‘talented’ young person but the funds of others passing through the system," Giyasov remarked.

He further noted that an analysis of the transactions revealed that most of the funds processed by Z.M. originated from pension, salary, and online credit cards. This raises suspicions of attempts to launder and obscure the origins of potentially illicit funds. Investigative and judicial authorities will address these suspicions, adhering strictly to the presumption of innocence.

Giyasov also cautioned social media users commenting on the case to avoid spreading misleading information, which could obstruct an objective investigation. He described such actions as "unprofessional" and "populist."