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    <p>Nepalese police have uncovered an international gang of gold <a rel="noopener noreferrer nofollow" title="smugglers" href="https://thebittimes.com/tag/smugglers.html">smugglers</a> that secretly moved over 33kg of gold into the country in exchange for $16 million worth of <a rel="noopener noreferrer nofollow" title="Tether" href="https://thebittimes.com/tag/tether.html">Tether</a> (<a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a>).</p>
    <p>According to local media, Dolakha police held a press conference on Tuesday detailing how the gang moved the gold through the Lamabagar border checkpoint with China between November 2022 and September 2023.</p>
    <p>Police revealed that over the course of a year, the gang sold the gold for Rs. 2.19 billion ($16 million) worth of <a rel="noopener noreferrer nofollow" title="USDT" href="https://thebittimes.com/tag/usdt.html">USDT</a> using 12 crypto wallets. Police also reportedly revealed that the crypto might be linked to illicit activities separate from the gold smuggling.</p>
    <p>The <a rel="noopener noreferrer nofollow" title="smugglers" href="https://thebittimes.com/tag/smugglers.html">smugglers</a> are said to have <strong>employed children to help hide the gold inside potato and flour sacks</strong> before transporting it to Nepal’s capital, Kathmandu.</p>
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       Tether’s history with China goes far beyond commercial paper
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    <p><em>Read more: Brazil gang caught laundering illegal gold with crypto</em></p>
    <p>In return, the <a rel="noopener noreferrer nofollow" title="smugglers" href="https://thebittimes.com/tag/smugglers.html">smugglers</a> reportedly sent the sacks back to Tibet filled with fiat cash, musk, and a type of caterpillar fungus known as ‘yarsagumba.’ The fungus reportedly sells for between $40,000 and $50,000 per kilogram and is considered a traditional high-value medicine.&nbsp;</p>
    <p>Following the joint investigation by Dolakha police and the Central Investigation Bureau of Nepal, <strong>27 people are suspected to be involved in the smuggling operation</strong>.</p>
    <p>Police have arrested and charged two primary Chinese suspects and 13 Nepalese suspects with gold smuggling while 12 others are said to be on the run.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nepal-smugglers-caught-selling-gold-from-china-for-16m-usdt-tbt71240.html">https://thebittimes.com/nepal-smugglers-caught-selling-gold-from-china-for-16m-usdt-tbt71240.html</a></p>

Nepal smugglers caught selling gold from China for $16M USDT

TheBitTimes

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