India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The ED stated that the freeze was part of an investigation into mobile gaming app E-nuggets. This was intended to defraud public.
India Freezes More Bitcoins at binance
India’s Enforcement Directorate (ED) announced Friday that it has frozen 150.22 bitcoins under the country’s Prevention of Money Laundering Act (PMLA). The ED is the government of India’s law enforcement and economic intelligence agency.
The case involves Aamir Khan, s/o Nesar Ahmed Khan, who launched a mobile gaming application called E-nuggets, which “was designed for the purpose of defrauding [the] public,” the ED described.
Twitter account official ED explained that the agency had been investigating a crypto wallet, and a user ID at cryptocurrency exchange Binance. This led the agency to freeze 150.22 BTC.
Further details are given about the ED:
During investigation, it was found that money was being laundered from multiple accounts (more 300). The proceeds were also used for the purchase of cryptocurrencies.
The authority explained that it had previously frozen many cryptocurrencies in the E.nuggets matter. Last month, the ED claimed it had frozen 85.91870554 Bitcoins at Binance and two crypto tokens kept at Indian crypto-exchange Wazirx: WRX & USDT. In addition, 44.5 more BTC were subsequently “seized and frozen” from the residential premises of Romen Agarwal.
Agarwal “is actively involved in inter/intra country transactions related with transfer of ill-gotten money within & outside the countries received from criminals.” He has been arrested and is currently under judicial custody, the ED noted.
What do YOU think about the ED storing more bitcoin in the E.nuggets mobile gambling app case? Please comment below.
Kevin, a student of Austrian Economics and evangelist since 2011, discovered Bitcoin. His interests include Bitcoin security and open-source systems. He is also interested in network effects and the intersection of economics and cryptography.
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