The Enforcement Authority of India announced the freezing of 77.6 BTC transferred from the Indian exchange WazirI to Binance, as part of an investigation into the activities of the gaming mobile app E-nuggets.
The Enforcement Authority of India (ED) reported that the blocking of bitcoins was carried out in accordance with the country's Prevention of Money Laundering Act (PMLA).
Indian citizen Aamir Khan, also known as Nesar Ahmed Khan, has launched a mobile gaming app called E-Nuggets, the law enforcement agency explained. It was originally designed to deceive the public, according to the prosecutor's office. After collecting a large amount of funds, the withdrawal of assets from this application was stopped. In addition, all data, including profile information, was erased from the app's servers.
Investigators found out that the accused illegally transferred part of the funds received abroad through cryptocurrency exchanges. To do this, he used a fictitious account on WazirX in the name of Sima Naskar, and used this account to buy and sell crypto assets. Then 77.6 BTC worth more than $1.5 million were transferred to Binance, which were subsequently frozen. The investigation is still ongoing.
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The Indian Enforcement Authority (ED) froze $2.5 million in bitcoins on Binance during the investigation of the E-nuggets gaming app.
The assets blocked by ED on the Binance cryptocurrency exchange belong to Indian developer Aamir Khan, whose team launched the mobile gaming application E-nuggets. India's watchdog suspects that the app "was designed to deceive the public".
The regulator announced that bitcoins are blocked for studying the cryptocurrency wallet and user account on the Binance exchange in accordance with the Prevention of Money Laundering Act (PMLA). As a result of the investigation, the supervisory authority claims that the suspects used more than 300 accounts for money laundering. And the proceeds from the activity were used to purchase bitcoins.
The agency launched an investigation into E-Nuggets and its founder after the Kolkata city authorities filed a complaint against the suspect in February 2021. Another 44.5 BTC was subsequently " seized from the home of Romen Agarwal, who was actively involved in laundering money obtained from criminals." The Indian was arrested and is now in custody.
In September, the Enforcement Authority of India announced the freezing of 77.6 BTC transferred from the Indian exchange WazirI to Binance as part of an investigation into the activities of the creators of E-nuggets.
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Indian law enforcement officers confiscated 90 crore rupees (about $10.5 million) from the creators of the E-Nuggets game application, stored at 70 addresses of the Binance, ZebPay and WazirX cryptocurrency exchanges.
The Enforcement Authority of India (ED) claims that E-Nuggets, which positions itself as a gaming platform, has guaranteed users a high return on investment. The creators of E-Nuggets offered users games for real money with large commissions. However, when receiving users ' money, the app creators abruptly stopped withdrawing money and deleted all client data from the servers. As a result, investors ' funds were stuck, and people could not return the money invested.
The app came to the attention of the police two years ago. The investigation revealed 2,500 bank accounts with funds worth 19 crore ($2.2 million). Now the case has been seized and frozen property with a total value of almost ten times more. This includes cash, cryptocurrency, bank account balances, and office space.
Given that the money was transferred using cryptocurrencies, law enforcement agencies managed to track the transactions and then confiscate them. To do this, the Indian police had to resort to the help of Binance, ZebPay and WazirX trading platforms, which blocked the necessary addresses. The alleged mastermind of the scheme, Aamir Khan, was arrested along with his partner, Romen Agarwal. Now both are in custody.
During the investigation of the E-Nuggets case, the Indian authorities froze $2.5 million in bitcoins on Binance back in 2022, citing the Prevention of Money Laundering Act (PMLA).
The Enforcement Authority of India (ED) reported that the blocking of bitcoins was carried out in accordance with the country's Prevention of Money Laundering Act (PMLA).
Indian citizen Aamir Khan, also known as Nesar Ahmed Khan, has launched a mobile gaming app called E-Nuggets, the law enforcement agency explained. It was originally designed to deceive the public, according to the prosecutor's office. After collecting a large amount of funds, the withdrawal of assets from this application was stopped. In addition, all data, including profile information, was erased from the app's servers.
Investigators found out that the accused illegally transferred part of the funds received abroad through cryptocurrency exchanges. To do this, he used a fictitious account on WazirX in the name of Sima Naskar, and used this account to buy and sell crypto assets. Then 77.6 BTC worth more than $1.5 million were transferred to Binance, which were subsequently frozen. The investigation is still ongoing.
====
The Indian Enforcement Authority (ED) froze $2.5 million in bitcoins on Binance during the investigation of the E-nuggets gaming app.
The assets blocked by ED on the Binance cryptocurrency exchange belong to Indian developer Aamir Khan, whose team launched the mobile gaming application E-nuggets. India's watchdog suspects that the app "was designed to deceive the public".
The regulator announced that bitcoins are blocked for studying the cryptocurrency wallet and user account on the Binance exchange in accordance with the Prevention of Money Laundering Act (PMLA). As a result of the investigation, the supervisory authority claims that the suspects used more than 300 accounts for money laundering. And the proceeds from the activity were used to purchase bitcoins.
The agency launched an investigation into E-Nuggets and its founder after the Kolkata city authorities filed a complaint against the suspect in February 2021. Another 44.5 BTC was subsequently " seized from the home of Romen Agarwal, who was actively involved in laundering money obtained from criminals." The Indian was arrested and is now in custody.
In September, the Enforcement Authority of India announced the freezing of 77.6 BTC transferred from the Indian exchange WazirI to Binance as part of an investigation into the activities of the creators of E-nuggets.
=====
Indian law enforcement officers confiscated 90 crore rupees (about $10.5 million) from the creators of the E-Nuggets game application, stored at 70 addresses of the Binance, ZebPay and WazirX cryptocurrency exchanges.
The Enforcement Authority of India (ED) claims that E-Nuggets, which positions itself as a gaming platform, has guaranteed users a high return on investment. The creators of E-Nuggets offered users games for real money with large commissions. However, when receiving users ' money, the app creators abruptly stopped withdrawing money and deleted all client data from the servers. As a result, investors ' funds were stuck, and people could not return the money invested.
The app came to the attention of the police two years ago. The investigation revealed 2,500 bank accounts with funds worth 19 crore ($2.2 million). Now the case has been seized and frozen property with a total value of almost ten times more. This includes cash, cryptocurrency, bank account balances, and office space.
Given that the money was transferred using cryptocurrencies, law enforcement agencies managed to track the transactions and then confiscate them. To do this, the Indian police had to resort to the help of Binance, ZebPay and WazirX trading platforms, which blocked the necessary addresses. The alleged mastermind of the scheme, Aamir Khan, was arrested along with his partner, Romen Agarwal. Now both are in custody.
During the investigation of the E-Nuggets case, the Indian authorities froze $2.5 million in bitcoins on Binance back in 2022, citing the Prevention of Money Laundering Act (PMLA).
