The Aryavarth Express
Agency (New Delhi): The Enforcement Directorate (ED) has announced the seizure of cryptocurrency assets worth Rs 90 crore held in the wallets of major exchanges such as Binance, ZebPay, and WazirX. This action is part of a broader investigation into money laundering activities associated with the ‘E-Nugget’ online gaming application, which has been identified as a scam.
The seized assets were moved to the ED’s own cryptocurrency wallet following an FIR lodged at the Park Street Police Station in Kolkata. This legal action falls under the Prevention of Money Laundering Act (PMLA). ‘E-Nugget’ was purportedly a gaming platform that lured users with the promise of high returns on investments through engaging games and substantial commissions.
However, the platform ceased operations abruptly, leaving numerous investors without their funds. In response, the ED conducted an investigation that uncovered the diversion of ill-gotten money into digital assets. During their probe, the ED identified around 2,500 mule or dummy bank accounts used in the operations.
Further investigations into the crypto wallets held at exchanges like Binance, ZebPay, and WazirX allowed the ED to freeze funds in approximately 70 accounts, amounting to nearly Rs 90 crore, directly linked to the fraudulent activities of the ‘E-Nugget’ app.
The agency has also made two arrests in connection with the case, including the alleged mastermind Aamir Khan and another suspect Romen Agarwal. Additionally, the ED has filed a charge sheet and seized, attached, or frozen assets totaling Rs 163 crore, which includes cash, cryptocurrencies, bank balances, and property used in the operation of the scam. This significant crackdown highlights the growing scrutiny and regulatory actions targeting financial crimes in the cryptocurrency sector.