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India Freezes More $WRX And $USDT Tied To Laundering Case

India is leaving no stone unturned in a recent crackdown on the E-Nuggets crypto money laundering case, as its ED freezes an additional $58,000 worth of WRX and USDT. The move comes amidst the authorities’ probe into gaming platform E-Nuggets on money laundering allegations.

The ED alleges that Khan used E-Nuggets to defraud the public

The Enforcement Directorate (DE) of India disclosed the information through an official press release Friday. Per the announcement, the DE revealed that it had frozen funds in WRX and USDT tied to the E-Nuggets case. According to the DE, the funds amount to Rs 47.64 Lakhs ($58,565 against prevailing rates).

The press release notes that the agency’s move corresponds with the provisions of India’s Prevention of Money Laundering Act (PMLA). Additionally, the ED revealed that the decision ties to an ongoing investigation into founder of E-Nuggets Aamir Khan. The authorities discovered the assets in a WazirX wallet owned by Khan.

Recall that the ED of India uncovered an investigation into Khan two days ago. According to the directorate, Khan had been in the habit of using the E-Nuggets gambling platform for his laundering practices. Khan is alleged to have been involved in fraudulent acts that led to loss of funds for users of E-Nuggets.

After collecting the 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,

the ED remarked.

India has been proactive in its fight against crypto money laundering

Furthermore, As part of the probe, the authorities moved to freeze about $1.5M in cryptocurrencies belonging to Khan barely two days ago. The ED’s investigation began following complaints filed against Aamir Khan and E-Nuggets in February, 2021.

Khan allegedly stored his ill-gotten gains in cryptocurrencies, transferring from WazirX to Binance. Binance froze the assets upon the ED’s request. Additionally, WazirX has been working with the authorities to provide information relevant to the investigation.

Prior to the development of Wednesday, the Enforcement Directorate raided six locations in connection with the ongoing probe, including Khan’s premises. The agency seized over $2.1M in the raid.

Generally, India has been proactive in its fight against crypto money laundering. Last month, the ED froze the bank assets of India’s largest exchange WazirX worth $8M. The move followed allegations of money laundering.

   

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