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Indian Authorities Freeze $1.5 Million Worth of Bitcoin Allegedly Used in Money Laundering

In an investigation of financial crimes, the Directorate of Enforcement (ED), an Indian law enforcement agency, has frozen 128 million rupees ($1.5 million) in cryptocurrencies.

An ED investigation into Aamir Khan and other players associated with the gaming software E-nuggets resulted in the freezing of 77.6 bitcoins in compliance with the Prevention of Money Laundering Act (PMLA). In the past, the bitcoins were traded on WazirX before being transferred to Binance, where they were locked.

The release mentions that the investigation has been going on since February 15, 2021, and that Aamir Khan founded E-nuggets to trick people out of their money. 

What’s All This About?

The Park Street police in Kolkata are conducting an investigation. The document continues, “After collecting sizable amounts of money from the public, all withdrawals from the app were blocked on one pretext or another.” All data, including profile information, was then deleted from the app servers.

During its investigation, the ED determined the accused sent the money overseas through cryptocurrency exchanges. WazirX was used to buy a cryptocurrency and then send it to Binance through the account Sima Naskar. 

In August, WazirX’s bank accounts were frozen by the ED. As a result of the ED’s warning, Binance has now frozen the cryptocurrency involved in these transactions. During a previous search of Aamir Khan’s property, 173.2 million rupees (about $2.1 million) in cash was seized.

The ED reported that WazirX cooperated with its investigation after the publication of this article by providing all the relevant information, documents, and facts.