ED chargesheets online gaming app WinZO, alleges players duped of Rs 734 cr using bots

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The Enforcement Directorate on Sunday said it has charge-sheeted real-money online gaming app WinZO and its promoters, alleging that players lost Rs 734 crore on the platform as the company “embedded” bots and AI to “manipulate” the game’s algorithms.

According to an official statement, the ED’s Bengaluru zonal office filed the prosecution complaint on January 23 before a local court designated to try cases under the Prevention of Money Laundering Act (PMLA).

The company, Winzo Pvt. Ltd., its directors – Paavan Nanda and Saumya Singh Rathore – and its…



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ED chargesheets online gaming app WinZO, alleges players duped of Rs 734 cr using bots



The Enforcement Directorate on Sunday said it has charge-sheeted real-money online gaming app WinZO and its promoters, alleging that players lost Rs 734 crore on the platform as the company “embedded” bots and AI to “manipulate” the game’s algorithms.

According to an official statement, the ED’s Bengaluru zonal office filed the prosecution complaint on January 23 before a local court designated to try cases under the Prevention of Money Laundering Act (PMLA).

The company, Winzo Pvt. Ltd., its directors – Paavan Nanda and Saumya Singh Rathore – and its…



Source link

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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