India Continues to Freeze Bitcoin on Cryptocurrency Exchange Binance
India continues to freeze Bitcoin on cryptocurrency exchange Binance.
India’s Enforcement Directorate (ED) said it has seized another 150.22 bitcoins seized from cryptocurrency exchange Binance. The arrest was part of an investigation into the mobile game app E-nuggets, which was designed to defraud people, the ED said. India stops most Bitcoins on Binance.
India Freeze Bitcoins on Binance
India’s Law Enforcement (ED) Directorate announced on Friday that it has frozen 150.22 bitcoins under the country’s Prevention of Money Laundering Act (PMLA). ED is the law enforcement and economic intelligence agency of the Government of India. The case relates to Aamir Khan, s/o Nesar Ahmed Khan, who launched a mobile gaming app called E-nuggets, which was “designed for the purpose of deceiving the public”, the ED explained.
The ED’s official Twitter account tweeted explaining that the company checked the crypto wallet and user ID on the cryptocurrency exchange Binance, which resulted in 150.22 BTC being frozen.
What ED explains:
It was revealed during the investigation that many accounts (more than 300) were used to withdraw money. This money is also used to buy cryptocurrencies. The authority explained that it lost several cryptocurrencies in the E-nuggets case. Last month, the ED said it had withdrawn 85.91870554 bitcoins from Binance and two crypto tokens held on the Indian crypto exchange Wazirx: WRX and USDT. In addition, another 44.5 BTC was later “caught in the cold” from the residence of Romen Agarwal.
Agarwal is “actively involved in inter/intra-country transactions related to domestic and international transfers of ill-gotten gains received from criminals”. He was arrested and is currently in judicial custody, the ED said. India Freeze Bitcoins on Binance