Indian Authorities Block Over 150 Bitcoins on Binance

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Enforcement Directorate of India (ED) froze $2.5 million in bitcoins on Binance during an investigation into the E-nuggets gaming app.

Cryptocurrency assets blocked by EDBinance exchange is owned by Indian developer Aamir Khan, whose team launched the mobile gaming application E-nuggets. India's watchdog suspects the app "was designed to deceive the public."

The regulator announced that bitcoins are blockedto examine the cryptocurrency wallet and user account on the Binance exchange in accordance with the Prevention of Money Laundering Act (PMLA). Following the investigation, the watchdog claims that the suspects used more than 300 accounts for money laundering. And with the proceeds from the activities they purchased bitcoins. 

The agency has launched an investigation intoE-Nuggets and its founder after the Kolkata city authorities filed a complaint against the suspect in February 2021. Another 44.5 BTC was subsequently “seized from the home of Romen Agarwal, who was actively involved in laundering money received from criminals.” The Indian was arrested and is now in custody.

In September, India's Enforcement Directorate reported freezing 77.6 BTC transferred from the Indian exchange WazirX to Binance as part of an investigation into the activities of the creators of E-nuggets.