The Financial Monitoring Agency of Kazakhstan has announced the stoppage of the illicit cryptocurrency exchange activities of ABS Change.
During searches, cash of $342,000 and 7 million tenge (equivalent to almost $16,000) were seized from the suspects. An additional $23,000 in cryptocurrency was discovered on two wallets on Binance, which have since been blocked following the agency’s appeal.
It is estimated that the exchange’s total turnover on Binance is about $34 million. The pre-trial investigation is still in progress.
This follows the end of January when five unregistered cryptocurrency exchangers were shut down by the Kazakhstani authorities.
In order to penalize transactions through one of these companies, a Russian citizen’s property, including real estate and cryptocurrency on Binance, was seized by the court.