India ED freezes US$1.57 mln in crypto allegedly laundered through WazirX, Binance
India’s financial crime fighting agency has frozen over US$1.5 million in cryptocurrencies as part of a money laundering investigation against mobile gaming application E-nuggets, the Enforcement Directorate (ED) said on Wednesday.
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Fast facts
The ED launched a money laundering investigation against E-Nuggets founder Aamir Khan “and others,” after authorities in the eastern city of Kolkata filed a complaint against the suspects in February last year.
E-Nuggets was allegedly designed to defraud the general public, the ED said.
The app allegedly disabled withdrawals after collecting a significant amount of money from users and all data were erased from the app servers.
The ED said its investigation revealed that the accused transferred some illegal profits from the gaming app to overseas accounts.
The accused used a dummy account to purchase crypto on Indian exchange WazirX before transferring the assets to Binance exchange, the agency said.
Earlier this month, an ED-led raid at Khan’s residence led to the recovery of about US$2.1 million.
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