ED seized Bitcoins worth INR 22.82 Cr – Gaming app E-nuggets probe

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The Enforcement Directorate (ED) seized Bitcoins worth INR 22.82 Cr, stored in a wallet of crypto exchange Binance, in connection with a money laundering probe into fraudulent gaming app E-nuggets.

According to a statement from the ED, it conducted a search operation on Binance’s wallet and user ID, which resulted in the freezing of 150.22 Bitcoins in accordance with the Prevention of Money Laundering Act (PMLA), 2002. The agency started looking into the case on the basis of a FIR submitted in February 2021 and has so far seized INR 68.42 Cr. As part of its investigation into numerous fraudulent apps and illegal digital lending apps, the ED is keeping a close eye on a number of Indian cryptocurrency exchanges.

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ED seized Bitcoins worth INR 22.82 Cr – Gaming app E-nuggets probe

The Enforcement Directorate (ED) seized Bitcoins worth INR 22.82 Cr, stored in a wallet of crypto exchange Binance, in connection with a money laundering probe into fraudulent gaming app E-nuggets.

According to a statement from the ED, it conducted a search operation on Binance’s wallet and user ID, which resulted in the freezing of 150.22 Bitcoins in accordance with the Prevention of Money Laundering Act (PMLA), 2002. The agency started looking into the case on the basis of a FIR submitted in February 2021 and has so far seized INR 68.42 Cr. As part of its investigation into numerous fraudulent apps and illegal digital lending apps, the ED is keeping a close eye on a number of Indian cryptocurrency exchanges.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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