India’s Directorate of Enforcement claims it has frozen additional cryptocurrencies including bitcoin, tether and the Wazirx token. This is part of an investigation into the mobile gaming app Enuggets. The ED announced that almost 86 bitcoins found on crypto exchange Binance had been frozen.
Indian Authority Freezes Additional Cryptocurrencies: Bitcoin and Tether. Wazirx Token.
India’s Directorate of Enforcement has announced Friday it had frozen two additional cryptocurrencies in violation of the country’s Prevention of Money Laundering Act. The ED is India’s economic intelligence and law enforcement agency. Details:
Directorate of Enforcement (ED), has frozen the crypto currencies WRX, (utility token of Wazarx) as well as USDT. This is equivalent to Rs 47.64 crores.
Aamir Khan and other E-nuggets related individuals were the subject of a money laundering investigation by the ED. This was based on an FIR dated February 15, 2021.
E-Nuggets was launched by Aamir Khan, S/o Nesar Ahmad Khan, according to the Indian authority. “Further,” the Indian authority stated, “After collecting a handsome amount from public, all of a sudden, withdrawal from said app was stopped under the pretext of one or more excuses.”
According to the agency, its investigations revealed that the accused had transferred the money earned via the E-nuggets app using a cryptocurrency swap.
Amount equivalent to Rs 47.64 million was found in Wazirx’s wallet (crypto exchange), belonging to Aamir Khan and his associates. The same has been frozen under PMLA.
The ED also noted that Rs 17.32 crore cash, which was found during earlier searches against Amir Khan, was seized from Amir Khan’s residential premises.
The ED has just announced the following:
85.91870554 bitcoins are equivalent to USD $1674,255.7 (equivalent in Rs 13.56 Cr). according to market exchange rate) was found in balance in Binance Exchange was frozen
The ED had previously announced that it had frozen 77.62710139 Bitcoins on Binance. This means that the ED has frozen 8.29160415 additional Bitcoin.
Binance was thought to have purchased Wazirx in 2019. Binance CEO Changpeng Zhao, CZ, recently stated that Wazirx was acquired by Binance in 2019.
In August, the ED frozen Wazirx’s bank assets in excess of \$8 million. Wazirx stated earlier this month that its bank accounts were unfrozen. The ED froze cryptocurrency and bank assets of Vauld worth $46 millions, a crypto platform backed Peter Thiel. The agency searched cryptocurrency exchange Coinswitch Kuber in August. However, the CEO of the exchange stated that it was not connected to money laundering investigations.