The Enforcement Directorate of India and the Financial Crimes Agency seized the money for a mobile game application under investigation in the country.
Indian authorities launched an investigation last year into E-Nuggets, a gaming app that has become increasingly popular in the country. Authorities claim that the E-Nuggets app contains a money laundering and fraud mechanism.
Authorities confiscated about $2 million worth of assets from a team of E-Nuggets developers weeks ago. However, according to recent research, it has been determined that more than this amount is hidden.
Financial Crimes Enforcement Agency to launder money in the hands of app owners WazirX and Binance found that he was using the exchanges. Cybercrime authorities reached the developers’ account on the Binance exchange and seized their cryptocurrency wallets.
According to the statement made by the Enforcement Directorate, the criminals held $2.1 million worth of cryptocurrencies on the Binance exchange. According to sources, there are 78 in the wallet. bitcoin there are other criminals cryptocurrency did not choose the unit.
Indian Authorities Pursue Stock Exchanges!
Cryptocurrencies are gaining acceptance faster, especially in countries where the income distribution is extremely uneven. Citizens who are in the lower strata financially, cryptocurrencies are a “cornering tool” sees it as.
The Indian government is very uncomfortable with the spread of cryptocurrencies in the country. Indian authorities are currently trying to put pressure on the industry by conducting investigations into 10 cryptocurrency exchanges.
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