There have been new developments in India’s money laundering case against E-Nuggets. Accordingly, India has frozen more of the tokens of these altcoin projects. As it turns out, this will leave no stone unturned in file scope. Authorities are investigating the gaming platform E-Nuggets regarding money laundering allegations. The final move came right in the middle of this investigation.
DE freezes these altcoin projects for alleged money laundering
On the matter, the Enforcement Directorate of India (ED) issued an official press release on Friday. Accordingly, ED has announced that it has frozen funds in WRX and USDT due to the E-Nuggets lawsuit. According to ED, the funds amounted to 47.64 Lakh ($58,565 at current exchange rate). The press release states that the agency’s move is in line with the provisions of India’s Anti-Money Laundering Act (PMLA).
Additionally, ED clarified that the decision is linked to an ongoing investigation into the founder of E-Nuggets Aamir Khan. Authorities discovered assets in a WazirX wallet owned by Khan. cryptocoin.comAs you follow, ED uncovered an investigation into Khan two days ago. According to the ED, Khan was in the habit of using the E-Nuggets gambling platform for laundering apps. Khan is allegedly involved in fraudulent acts that resulted in loss of funds for E-Nugget users. In this context, ED made the following statement:
After collecting money from the public, the abrupt withdrawal from the said App was stopped for one reason or another. Afterwards, all data including profile information was deleted from said Application servers.
India has been proactive in its fight against cryptocurrency laundering
Also, as part of the investigation, authorities took action to freeze about $1.5 million worth of altcoin tokens belonging to Khan two days ago. ED’s investigation began in February 2021 following complaints made to Aamir Khan and E-Nuggets.
The allegations include that Khan is hiding his ill-gotten gains as altcoins. Also, there are allegations that he transferred them from WazirX to Binance. Meanwhile, Binance froze assets at ED’s request. In addition, WazirX is working with authorities to provide information regarding the investigation.
Before it developed on Wednesday, the ED raided six locations, including Khan’s buildings, in connection with the ongoing investigation. The agency confiscated more than $2.1 million in the raid. Overall, India has been proactive in its fight against cryptocurrency laundering. Last month, ED froze $8 million worth of bank assets of WazirX, India’s largest exchange. The move came after allegations of money laundering.
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