$2.8 Million In Bitcoins Were Frozen By India Related To Binance’s E-nuggets Case

According to a statement, India’s anti-money laundering agency searched a wallet on the Binance cryptocurrency exchange on Friday, deepening its investigation into a case involving a mobile gaming application and decided to freeze $2.8 million in Bitcoins.

The Enforcement Directorate froze 228.2 million rupees ($2.8 million) in Bitcoins of mobile gaming application E-nuggets, which was designed to defraud the public. The case is still being investigated.

After collecting money from users, E-nuggets abruptly halted platform withdrawals and then deleted all data from its servers. According to the agency, the collected funds were allegedly used to purchase cryptocurrencies and launder money through more than 300 accounts.

Reported from local media, at least six people have been arrested in connection with the alleged fraud. Previously, the Enforcement Directorate filed a case against the founder of E-nuggets and seized 173.2 million rupees. It had also frozen Bitcoins worth 135.6 million rupees in a Binance exchange wallet, as well as other cryptocurrencies worth 4.7 million rupees.

Binance‘s investigation team was assisting the agency, according to an email from a spokesperson for the cryptocurrency exchange.

“It takes time to understand the full picture of a complex financial investigation because not all facts emerge at the start. It is logical to broaden investigations in order to catch a larger group of criminals,” Binance explained

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