Last week, Thimphu police detained Sandeep Rai Chamling, a self-proclaimed crypto expert, following multiple complaints against him. There are more than 40 complaints, which are now being investigated. The complainants reportedly invested a maximum of Nu 12,000 in the scheme.
Sandeep Rai Chamling began his business by offering cryptocurrency training, positioning himself as a self-proclaimed crypto expert in Bhutan. His company, PandoraBiz, promoted courses on cryptocurrency investment and trading, claiming to provide insights into earning high returns.
Despite rising interest in cryptocurrency, concerns were raised about the legitimacy of such platforms. PandoraBiz continued to operate even after receiving a cautionary notice from the Bhutan Qualifications and Professionals Certification Authority, BQPCA, in 2023.
The company’s next major move was the launch of a programme called SRC Mentorship. Participants were asked to pay some Nu 6,262 and download the PandoraBiz app, where video lessons featured Chamling teaching trading strategies. Each video costs an additional Nu 18.
They were told that by paying the amount, they would have lifetime access to his mentorship.
However, several participants said that the mentorship was not initially presented as a training programme. Instead, they say it was promoted as an investment scheme, promising at least USD 10 per day in returns.
“I once bought a mobile phone from him in 2023, so they may have had my contact number saved. In February 2025, I received a call from one of his staff members inviting me to join the SRC mentorship programme. I told them I wasn’t interested, but they kept calling, saying it was a ‘once-in-a-lifetime opportunity’ to make money. They said all I had to do was invest Nu 6,262,” said Kezang Choden.
She was also introduced to PandoraBiz Coin or PB Coin. Chamling reportedly claimed PB Coin would be Bhutan’s first digital coin.
“He told me that by 2030, his cryptocurrency called PB Coin would be listed among the world’s recognised trading coins. For people like us who didn’t have much knowledge about crypto, it sounded convincing, and we believed PB Coin was real,” said Kezang Choden.
At the Meet the Press session today, the industry, commerce and employment minister said the ministry will conduct a thorough review and share its findings once investigations are complete.
“No matter what measures or plans the government introduces, it ultimately comes down to individuals being mindful and making the right decisions after cross-checking the facts. The government is implementing strict policies, and we are closely monitoring the situation,” said Namgyal Dorji, Industry, Commerce and Employment Minister.
He added that despite prior warnings, PandoraBiz continued offering cryptocurrency training and maintained an active presence on social media, conducting online sessions and promoting its programmes.
Kinley Bidha & Tashi Dekar
Edited by Tandin Phuntsho
