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India\u2019s Enforcement Directorate (ED) says it has frozen more than 77.6 bitcoins that were transferred to Binance from Indian crypto exchange Wazirx. The freeze is part of a money laundering investigation into a mobile gaming application.<\/strong>\n<\/p>\n \n The freeze is part of the ED\u2019s investigation into a mobile gaming application called E-nuggets. According to the announcement, the cryptocurrency was transferred from Wazirx, a popular Indian exchange, to Binance. The ED also tweeted a summary of its action.<\/p>\n The law enforcement agency explained that \u201cAamir Khan, S\/o Nesar Ahmed Khan launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding [the] public,\u201d adding:\n<\/p>\n After collecting seizable amount of money from the public, all of a sudden withdrawal from the said app was stopped on one pretext or the other. Thereafter, all data including profile information was wiped off from the said app servers.<\/p>\n<\/blockquote>\n \n The accused allegedly opened a dummy account in the name of \u201cSima Naskar (Proprietor of M\/s Pixal Design)\u201d with Wazirx and used it to purchase cryptocurrencies, the ED further described, elaborating:\n<\/p>\n Thereafter the said crypto currencies were further transferred to another account in another crypto exchange, namely Binance.<\/p>\n<\/blockquote>\n \n Binance was believed to have acquired Wazirx in 2019. However, Binance CEO Changpeng Zhao (CZ) recently said<\/a> that the acquisition \u201cwas never completed,\u201d emphasizing that \u201cBinance has never \u2014 at any point \u2014 owned any shares of Zanmai Labs, the entity operating Wazirx.\u201d<\/p>\n The ED froze the bank assets<\/a> of Wazirx worth more than $8 million in August. However, earlier this month, Wazirx said that its bank accounts have been unfrozen<\/a>. Following Wazirx, the ED froze<\/a> crypto and bank assets worth $46 million of Vauld, a crypto platform backed by Peter Thiel. In August, the agency searched<\/a> crypto exchange Coinswitch Kuber. However, the CEO of the exchange said that it was not related to money laundering investigations.<\/p>\nIndian Authority Freezes Bitcoin Held at Crypto Exchange Binance<\/h2>\n
\nIndia\u2019s Directorate of Enforcement (ED) announced <\/a>Wednesday that it has frozen 77.62710139 bitcoins under the country\u2019s Prevention of Money Laundering Act (PMLA). The ED is the Indian government\u2019s law enforcement and economic intelligence agency.<\/p>\n![\"India](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/09\/ed-freezes-bitcoin.jpg\" "\\"India")
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\nThe ED explained that its investigations have revealed that the accused transferred part of the illegally earned funds overseas via the Indian crypto exchange Wazirx.<\/p>\n\n
\n\u201cThe balance of said transferred cryptocurrencies i.e. 77.62710139 bitcoins [equivalent to USD 1,573,466 (Rs 12.83 crore approximately)] at Binance crypto exchange has been freezed,\u201d the ED wrote.<\/p>\n