Indian authorities freeze 150 bitcoins held at crypto exchange Binance

India’s Enforcement Administration (ED) says it has frozen an additional 150.22 bitcoins held at crypto exchange Binance. The freeze is part of an investigation into the mobile game app E-nuggets, which was designed to defraud the public, the ED said.

India freezes more bitcoins at Binance

India’s Enforcement Administration (ED) announced Friday that it has frozen 150.22 bitcoins under the country’s Anti-Money Laundering Act (PMLA). The ED is the government of India’s economic intelligence and law enforcement agency.

The case involved Aamir Khan, s/o Nesar Ahmed Khan, who launched a mobile game app called E-nuggets, “designed with the intent of defrauding [the public],” the ED described. describe.

The official ED Twitter account tweeted explaining that the agency investigated a crypto wallet and user ID at crypto exchange Binance, resulting in a 150.22 BTC freeze.

Indian authorities freeze 150 bitcoins held at crypto exchange Binance

ED more details:

During the investigation, it was discovered that many accounts (more than 300) were used for money laundering. The proceeds are also used to buy cryptocurrencies.

The authority explained that it previously froze several cryptocurrencies in the E-nuggets case. Last month, the ED said it froze 85.91870554 bitcoins at Binance as well as two crypto tokens held at Indian crypto exchange Wazirx: WRX and 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.

Read more: US Treasury Secretary and Indian Finance Minister discuss Cryptocurrency Regulation

Comments (No)

Leave a Reply