India’s Enforcement Directorate (ED) says it has frozen 44.5 more bitcoins as part of an ongoing money laundering investigation into mobile gaming app E-nuggets. The authority has already frozen nearly 86 bitcoins at crypto exchange Binance relating to the same investigation.
India’s ED Freezes More Bitcoin in E-nuggets Case
India’s Enforcement Directorate (ED) announced Thursday that it has frozen 44.5 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 official Twitter account for the ED tweeted:
ED has carried out search operation at 2 premises in Kolkata and seized cash of Rs 1.65 Cr, froze 44.5 bitcoin (equivalent Rs 7.12 Cr) & other incriminating documents under PMLA, in respect to an investigation being conducted relating to the mobile gamming app., namely E-nuggets.
The authority explained: “Aamir Khan, s/o Nesar Ahmed Khan launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding public … It was revealed that multiple accounts (more than 300) were used to launder the money.”
Prior to Thursday’s announcement, the ED has already frozen cryptocurrencies relating to its investigation of E-nuggets several times.
On Sept. 28, the ED said it has frozen 77.62710139 bitcoins at cryptocurrency exchange Binance. The authority subsequently froze more BTC. In its Sept. 30 announcement, the ED said a total of “85.91870554 bitcoins equivalent to USD $1674255.7 (equivalent to Rs 13.56 Cr approx. as per market exchange rate) found in balance in Binance exchange was freezed.” The ED has also frozen WRX (the utility token of Indian crypto exchange Wazirx) and stablecoin tether (USDT) equivalent to Rs 47.64 lakhs in Wazirx accounts relating to the E-nuggets case.
The ED stated Thursday:
During investigations conducted under PMLA so far, an amount of Rs 51.16 Cr has been seized/ freezed in total in this case.
What do you think about the ED freezing additional bitcoin? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.