Finely chopped – Indian regulator freezes over $1.5 million worth of Bitcoin (BTC) originally purchased on cryptocurrency exchange WazirX. They would be linked to a fraudulent application.
From WazirX to Binance: bitcoin freeze in the E-nuggets case
The chicken was not to the liking of the regulator. In a communicated of September 28, the Directorate of Enforcement in India announced the freeze of around 77.63 BTCwith an approximate value of 128 million rupees, which is equivalent to more than 1.5 million dollars.
The authorities cite the law on the prevention of money laundering to justify this action. They blocked these funds as part of an ongoing investigation that began on February 15 last year, against Aamir Khan, Nesar Ahmed Khan, and others. involved in the E-nuggets game.
This application was allegedly developed with the aim of stealing money from its users. The game was said to have been “stopped” once the defendants managed to seize the funds from their victims. The people involved in this alleged fraud would have subsequently erased all data from the server, including profile information.
The investigation revealed that these 77.63 BTC bitcoins were purchased on WazirX under an account in the name of Sima Naskar, before being transferred to Binance, where they were frozen.
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Indian crypto platform under pressure from regulator
Once again, the name of WazirX is cited in a money laundering case. Last August, the Directorate of Enforcement had blocked platform assets, suspected of having violated the exchange rules in force.
Authorities were then closely monitoring at least ten cryptocurrency exchanges. They would have participated in laundering of approximately $125 million generated by illegal activities.
Following this press release on the provisions targeting Aamir Khan and his accomplices, WazirX told The Block media that he was collaborating with the regulator, in particular by providing “all the relevant facts, information and documents that the investigators were looking for”. .
In this case, which is tarnishing the image of cryptocurrencies for the umpteenth time, the Indian regulator cites the names of WazirX and Binance in the same press release. The crypto community should not deduce from this that the two cryptocurrency exchanges have a privileged relationship, links that would not exist according to Changpeng Zhao’s August revelations.
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