The victims are likely scattered across the Kathmandu Valley. Some may not even know they were cheated yet. Police say Mukesh Prajapati, 25, of Bhaktapur, used social media to lure people with promises and inducements.
Then he took their money. He turned that money into cryptocurrency.
The total comes to Rs 14,876,527.46, according to investigators. That is a lot of ruined months for ordinary families. Many households in the region are still figuring out how scams work on platforms like Facebook and TikTok.
They see an ad, a friend’s share, a too-good-to-be-true offer. They click.
They send cash. And then the money disappears into a digital wallet that Nepal’s laws say should not exist. Cryptocurrency trading is illegal here.
The Nepal Rastra Bank has said so, repeatedly. This arrest is proof that those warnings are not empty. Police spokesperson Superintendent Pawan Kumar Bhattarai confirmed the scale of the operation.
The numbers are precise down to the paisa. That suggests a detailed paper trail — or a digital one.
Authorities recovered digital assets worth 7,485 US dollars from Prajapati’s accounts. That is roughly Rs 1.14 million. Some of the stolen money, at least, is still traceable.
The Kathmandu District Court has given police five days to keep questioning him. More victims could surface in that time.
For people in Bhaktapur, this hits close to home. Madhyapur Thimi is not a big place. Word spreads fast.
Neighbors will be wondering if they or someone they know sent money to this man. The police investigation is ongoing. The five-day remand means more details are likely to emerge.
The broader lesson is blunt. Social media is a tool.
It can connect families, share news, sell goods. It can also be weaponised. This case is a clear example.
One man, a phone, a few accounts, and millions of rupees changed hands outside the law. The victims are not faceless.
They are people who trusted something they saw on a screen. Police are watching digital transactions closely now. The consequences for running such schemes are severe.
Nepal’s financial system does not allow room for crypto. Anyone operating in that space is taking a risk. This arrest shows that risk is real.
The coming days will tell if more victims step forward. The court has given time.
The police have the suspect. The money trail is being followed. For the families who lost savings, that may be the only comfort.
A chance, however small, that some of the cash comes back.
