Karaganda court convicts CVK pyramid organizer, confiscates 474,000 USDT

September 18, 2026 at 09:26 AM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

A court in Kazakhstan's Karaganda region sentenced S.Sh. Kairbayev, organizer of a CVK financial pyramid unit, to two years of restricted freedom with property confiscation. Authorities froze 474,000 USDT, equivalent to 212 million tenge, which the court ordered confiscated to the state. The verdict has entered into legal force.

Key Facts

S.Sh. Kairbayev was sentenced to two years of restricted freedom with confiscation of property.
The court ordered confiscation of 474,000 USDT, equivalent to 212 million tenge.
Participants were offered virtual stores priced from 49,000 to 120,000 US dollars.
Funds were transferred in USDT via the OKX platform to electronic wallets.
The verdict has entered into legal force.

The Sentence

A court in Kazakhstan's Karaganda region convicted S.Sh. Kairbayev, organizer of a structural unit of the CVK financial pyramid. He was sentenced to two years of restricted freedom with confiscation of property. The verdict has entered into legal force, according to the Agency for Financial Monitoring.

Scheme Mechanics

Participants were offered to deposit funds in USDT cryptocurrency to purchase virtual stores priced from 49,000 to 120,000 US dollars. In return, they were promised daily income and additional bonuses for attracting new investors. Goods placed in the virtual stores did not actually exist, and income depended on attracting new participants and their deposits. Investor funds were transferred in USDT via the OKX platform to electronic wallets.

Asset Freeze and Confiscation

Operational measures froze crypto assets totaling 474,000 USDT, equivalent to 212 million tenge. By court order, these digital assets were confiscated to the state. The Agency for Financial Monitoring announced the confiscation on September 18, 2026.