Under India's Prevention of Money Laundering Act, the Enforcement Directorate (ED) said Friday that it has frozen two more cryptocurrencies (PMLA). The ED is the law enforcement and economic intelligence agency for the Indian government.
India's Directorate of Enforcement (ED) says that it has frozen more cryptocurrencies, including bitcoin, tether, and the Wazirx token.
This is part of its investigation into the mobile game app E-nuggets. In its most recent statement, the ED said that almost 86 bitcoins found at the cryptocurrency exchange Binance had been frozen.
Indian authorities have put a hold on Bitcoin, Tether, and Wazirx Token.
Under India's Prevention of Money Laundering Act, the Enforcement Directorate (ED) said Friday that it has frozen two more cryptocurrencies (PMLA). The ED is the law enforcement and economic intelligence agency of the Indian government.
Based on an FIR from February 15, 2021, the ED began looking into Aamir Khan and other people for money laundering related to E-nuggets.
The Indian government said that Aamir Khan, son of Nesar Ahmed Khan, started E-Nuggets, which were made to trick people. "Further, after getting a lot of money from the public, the app suddenly stopped letting people take money out, giving a bunch of different reasons."
The ED also said that during earlier searches of Amir Khan's home, Rs 17.32 crore of cash was found and taken.
More Bitcoin is frozen by the Indian government at Binance
In a previous statement, the ED said that it had frozen 77,627,000,014 bitcoins on the Binance exchange. That means that the ED put a hold on 8.29160415 BTC more.
It was thought that Binance would buy Wazirx in 2019. But Binance CEO Changpeng Zhao (CZ) recently said that the purchase "was never finished" and that "Binance has never owned any shares of Zanmai Labs, the company that runs Wazirx, at any time."
In August, the ED froze Wazirx's bank assets, which were worth more than $8 million. But Wazirx said at the beginning of this month that its bank accounts were no longer frozen. After what happened with Wazirx, the ED froze $46 million worth of crypto and bank assets of Vauld, a crypto platform backed by Peter Thiel. In August, the agency looked through the Coinswitch Kuber exchange. But the CEO of the exchange said it had nothing to do with investigations into money laundering.