Kazakhstan Seizes $10M in Crypto From Amir Capital Ponzi Scheme Amid Broader Crackdown
Kazakhstan’s financial monitoring agency—Anti-Monopoly Service (AFM)—has more than $10 million in digital assets later than uncovering a large-scale Ponzi scheme tied to Amir Capital, a company that presented itself as a global investment fund.
Officials said the operation involved more than 40 suspects who solicited deposits in BTC, ETH, and Tether from Kazakhstani investors, promising returns of up to 10% per month.
Instead of generating profits through trading or mining, the group allegedly recycled new investor funds to pay earlier participants.
Investigators confirmed that the seized assets were secured under a court order, while a land parcel in the Almaty region was also frozen as part of the case. One alleged organizer, identified as a woman closely linked to the scheme, has been placed in pre-trial detention for two months as inquiries continue.
Complaints against Amir Capital began surfacing in 2021, when customers reported being unable to withdraw their savings. Organizers cited “technical hardies,” but the platform never resumed payouts. Authorities now say thousands of victims suffered heavy losses.
Kazakhstan has emerged as a major hub for crypto activity in recent years, especially later than China’s crackdown on mining pushed operators across the border. The Amir Capital case underscores how fraudsters have exploited the country’s rapidly growing sector by taking advantage of fragile oversight.
The financial monitoring agency stated that more seizures and arrests are expected as investigators continue tracing additional assets. Victims may later be invited to file claims for compensation once court proceedings move forward.
Kazakhstan Strengthens Crypto Oversight
The latest crackdown reflects Kazakhstan’s broader efforts to protect its citizens and strengthen financial secureguards.
Earlier in September, the government to build a national strategic reserve, a move supported by the United States.
President Kassym-Jomart Tokayev said the initiative would position Kazakhstan as a leader in the digital economy among Central Asian nations.
Shortly later than the announcement, the ), on the Solana blockchain. The token is backed by Kazakhstan’s fiat currency, the tenge, offering a hedge against crypto market volatility. Adoption has grown rapidly, with Mastercard partnering to facilitate distribution and expand utility.
The clampdown on Ponzi schemes is also gaining momentum abroad. In Texas, for example, a court denied bankruptcy discharge to Nathan Fuller, who was linked to the identical network, from the scheme and false testimony under oath.
Elsewhere in the United States, crypto investment scams such as HashFlare and Unicoin continue to face serious legal challenges.
