The post ED freezes cryptocurrency worth Rs. 22.82 billion due to gaming app scam. appeared first on OUR INDIA.
In connection with their investigation into a fraud case involving the mobile gaming application “E-Nnuggets,” the Enforcement Directorate (ED) on Friday conducted a search operation on the e-wallet and user IDs of Binance Crypto Exchange, resulting in the freezing of 150.22 Bitcoins, equivalent to Rs 22.82 crore, under the Prevention of Money Laundering Act (PMLA) 2002.
The first cash seizure made by the central agency in the case occurred when the ED conducted search operations on two locations connected to the gaming app in October.
Later, Binance’s Bitcoin, valued at Rs 13.5 crore, was also frozen. A bank account containing digital assets was also frozen by the investigating agency in accordance with other PML Act requirements.