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India's Enforcement Directorate Freezes $2.5M More Crypto in Gaming App E-Nuggets Case
The total value of frozen or seized assets in the case is about $8.4 million.
India's Enforcement Directorate (ED) asked crypto exchange Binance to freeze 150.22 bitcoins, today valued at about $2.5 million, as part of a money-laundering investigation relating to a gaming app called E-Nuggets, according to a press release on Friday.
The total value of frozen or seized assets in the case now amounts to $8.4 million the ED said.
STORY CONTINUES BELOW
The investigation relates to a February 2021 complaint filed by regulators in India's eastern city of Kolkata against Aamir Khan, the app's creator, and others. The agency alleges that Khan and others launched E-Nuggets to collect money from the public in return for rewards on commissions, but later wiped out all data. Khan's contact information has not been known since the investigation began.
The ED said "multiple accounts (more than 300) were used to launder the money" and that Khan transferred some of the money overseas through a cryptocurrency exchange. As many as 77.6 bitcoins, worth roughly $1.5 million at the time, were frozen in that Binance account earlier this year.
At the time, Binance confirmed it froze the accounts at the request of the ED.
Read More: India's Enforcement Directorate Freezes $1.5M in Bitcoin in Gaming App E-Nuggets Case
Amitoj Singh
Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.
