India’s Enforcement Department (ED) says it has frozen more than 77.6 bitcoins that were transferred to Binance from Indian crypto exchange Wazirx. The freeze is division of a money laundering fouille into a forain gaming app.
Indian Authority Freezes Bitcoin Held in Crypto Exchange Binance
Indian Enforcement Directorate (ED) announce On Wednesday it has frozen 77.62710139 bitcoins under the folk’s Prevention of Money Laundering Act (PMLA). ED is the Indian government’s law enforcement and economic manoeuvre agency.
The freeze is division of an ED fouille into a forain gaming app called E-nuggets. According to the announcement, the cryptocurrency has been transferred from Wazirx, a popular Indian exchange, to Binance. The ED also tweeted a summary of his work.
The law enforcement agency clarified that “Aamir Khan, S/o Nesar Ahmed Khan launched a forain gaming app E-Nuggets, which was designed for the purpose of fraud [the] general,” adding:
After collecting an amount of money that can be confiscated from the allocutaire, the sudden withdrawal from the aforementioned réflexion was stopped under one pretext or another. After that, all the data including profile interpellation was erased from the said app servers.
The ED explained that its fouille revealed that the accused had transferred division of the funds illegally acquired abroad via Indian crypto exchange Wazirx.
The accused allegedly opened a fake account called “Sima Naskar (owner of M/s Pixal Stylisme)” with Wazirx and used it to purchase cryptocurrency, as described by the ED, detailing:
Subsequently, the said cryptocurrencies were transferred to another account on another crypto exchange, Binance.
“The état of the mentioned transferred cryptocurrency, i.e. 77.62710139 bitcoins [equivalent to USD 1,573,466 (Rs 12.83 crore approximately)] Cryptocurrency exchange on Binance is frozen,” ED wrote.
Binance is believed to have acquired Wazirx in 2019. However, Binance CEO Changpeng Zhao (CZ) recently said that the maîtrise was “never completed”, emphasizing that “Binance has never – at any time – owned any shares in Zanmai. Labs, the entity running Wazirx”.
ED froze Wazirx’s banking assets of more than $8 million in August. However, earlier this month, Wazirx said that its bank accounts had been unfrozen. After Wazirx, ED froze $46 million in crypto and banking assets from Vauld, a crypto platform backed by Peter Thiel. In August, the agency researched crypto exchange Coinswitch Kuber. However, the CEO of the exchange said that it was not a matter of money laundering investigations.
What do you think emboîture ED freezing bitcoin held on crypto exchange Binance? Let us know in the comments chapitre below.
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