India’s Executive Directorate (ED) announced that it has frozen another 44.5 bitcoins as part of an ongoing money laundering investigation into mobile gaming app E-nuggets. Authorities have already frozen approximately 86 bitcoins on crypto exchange Binance related to the same investigation.
Indian ED Freezes More Bitcoins in E-nuggets Case
India’s Executive Director (ED)announcedThursday that it has frozen 44.5 bitcoins under the country’s Prevention of Money Laundering Act (PMLA).The ED is the law enforcement and economic intelligence agency of the Indian government.
The ED’s official Twitter account tweeted.
ED conducted search operations at two premises in Kolkata and seized Rs. 1.65 Cr cash, 44.5 Bitcoins (equivalent to Rs. 7.12 Cr)&and other incriminating documents under PMLA in connection with an investigation being conducted in connection with a mobile gaming app, namely E-nuggets Documents seized in connection with the conviction.
Authorities explained that “Aamir Khan, s/o Nesar Ahmed Khan, launched a mobile gaming application, namely E-Nuggets, which was designed for the purpose of defrauding the public… Multiple accounts (over 300) were found to be used for money laundering.”
Prior to Thursday’s announcement, ED had already frozen several cryptocurrencies related to the E-nuggets investigation.
On September 28, ED announced that it had frozen 77.62710139 bitcoins on cryptocurrency exchange Binance. Authorities subsequently froze moreBTC; in a September 30 announcement, ED said that a total of “85.91870554 bitcoins, worth US$1674255.7 (equivalent to about Cr13.56 at market exchange rates)” found outstanding on the Binance exchange It stated that the money has been frozen.” ED has also frozen WRX (utility token of Indian crypto exchange Wazirx) and stablecoin tether (USDT), worth Rs 47.64 lakhs, in the Wazirx account related to the E-nuggets incident.
ED said on Thursday.
A total amount of Rs 51.16 Cr has been seized/frozen in this case in the PMLA-based search so far.
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