KATHMANDU, NOVEMBER 28 Police arrested a 23-year-old man for trading illegal cryptocurrency valued at more than Rs 198.1 million in Kathmandu. The arrested has been identified as Mohammad Seikh, originally from Kalaiya Municipality–20, Bara District, and currently residing in Dallu, Kathmandu Metropolitan City–15. He was apprehended on November 26 at approximately 6:00 p.m. following information about illegal cryptocurrency trading activities in Bhadrakali, Kathmandu Metropolitan City–11. A team from District Police Range, Kathmandu, located and arrested Seikh, seizing two mobile phones of different brand used to conduct the digital currency transactions. Preliminary investigation revealed his involvement in trading illegal cryptocurrency worth Rs 198,149,581. Kathmandu District Court granted a five-day remand extension to conduct further investigation against Seikh under charges related to the prohibition of using illegal currency. Police will continue to investigate the full scope of the cryptocurrency scheme and potential involvement of other individuals in the illegal trading network, police noted.