The Enforcement Directorate (ED) of India said it has frozen more cryptocurrencies, including Bitcoin, Tether and Wazirx tokens. The operation is part of its investigation into the mobile gaming app E-nuggets. The ED revealed in its announcement that nearly 86 bitcoins found on cryptocurrency exchange Binance were frozen.

Indian Authorities Freeze More Cryptocurrencies: Bitcoin, Tether, Wazirx Tokens

India’s Enforcement Directorate (ED) announced on Friday that it has frozen two other cryptocurrencies under the country’s Prevention of Money Laundering Act (PMLA). The ED is the law enforcement and economic intelligence agency of the Government of India. Announcement details:

The Enforcement Directorate (ED) has frozen Rs 4.764 million worth of cryptocurrencies WRX (Wazirx’s utility token) and USDT (tether, an ethereum token pegged to the value of the US dollar).

India freezes more cryptocurrencies including Bitcoin and Tether as investigations involving Binance and Wazirx deepen

The ED launched a money laundering investigation against Aamir Khan and others linked to E-nuggets under the FIR of February 15, 2021.

Indian authorities say Aamir Khan of S/o Nesar Ahmed Khan launched “E-Nuggets designed to deceive the public”. “Furthermore, withdrawals from the app were abruptly stopped under first-class excuses after huge sums were collected from the public.”

The agency explained that its investigation revealed that the defendants used cryptocurrency exchanges to transfer amounts earned through the E-nuggets gaming app, detailing:

An amount equivalent to Rs 4.764 lakh was found in the wallets of Wazirx (cryptocurrency exchange) belonging to Aamir khan and colleagues and has been frozen under PMLA.

Furthermore, the ED pointed out that in an earlier search of Amir Khan, cash of Rs 17.32 crore was found and confiscated.

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Indian Authorities Freeze More Bitcoin on Binance

The announcement from the Education Department states:

The 85.91870554 bitcoins found in the Binance exchange balance worth $1,674,255.7 (approximately 13.56 rupees at exchange rates) were frozen.

In an earlier announcement, the ED said it had frozen 77.62710139 bitcoins on Binance. This means that ED has 8.29160415 more BTC frozen.

Binance is believed to have acquired Wazirx in 2019. However, Binance CEO Changpeng Zhao (CZ) recently stated that the acquisition was “never completed,” stressing that “Binance has never – at any time – owned any stake in the entity, Zanmai Labs, which operates Wazirx. .”

The ED froze Wazirx’s bank assets worth more than $8 million in August. However, earlier this month, Wazirx said its bank accounts had been unfrozen. After Wazirx, the ED froze $46 million worth of cryptocurrency and banking assets from Vauld, a cryptocurrency platform backed by Peter Thiel. In August, the agency searched the cryptocurrency exchange Coinswitch Kuber. However, the exchange’s chief executive said this was not related to the money laundering investigation.

What do you think of Indian authorities freezing more cryptocurrencies in money laundering investigation? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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