#Kazakhstan Shuts Down 130 #Crypto Platforms, Seizes $16.7M


Kazakhstan's Financial Monitoring Agency (AFM) has shut down 130 crypto platforms involved in money laundering schemes this year. The agency confirmed it seized $16.7 million in various cryptocurrencies linked to illegal operations.


The platforms function more like traditional currency exchange offices, commonly referred to as #crypto exchangers, rather than conventional centralized exchanges. The number represents a significant increase from 2025, when AFM reported taking down only 36 such platforms.


Financial monitors identified 81 underground networks specializing in converting crypto to cash. These clandestine operations handled aggregate transaction volumes exceeding $43 million, according to AFM Deputy Chairman Kairat Bizhanov.


New Anti-Money Laundering measures are being introduced for money transfers across the country. All bank card top-ups exceeding 500,000 tenge ($925) will require mandatory verification of the sender's Individual Identification Number. Previously, only the recipient's IIN was required for such transactions.


Nationwide ATM cash extraction reached $24.1 billion over the measurement period, representing a $1.8 billion increase from the prior year. Authorities identified ATMs as a critical weak point in the system, with criminals exploiting bank cards registered under false identities.

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October 09, 2025 at 1:53 AM
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