In the case of BTC accused of fraud,The agency that did the investigation said that the suspect turned the money from the crime into cryptocurrency and sent it overseas.
In a fraud case of involving a gaming app that happened two years ago, India’s top agency for investigating financial crimes has frozen 85.9 bitcoins, worth $1.6 million, that were in an account on Binance. It also froze WRX, which is the currency of WazirX, and USDT, which together are worth almost $550,000.
In this case, the agency raided a number of places in Kolkata earlier this month and found Indian currency worth $2.2 million. Aamir Khan, who is 25 years old, is charged with a $8.5 million scam.
Read More: How to Invest in Bitcoin?
E-Nuggets was mostly active during the Covid-19 lockdown. It had a number of games and an app wallet service where people could put their money and get good rewards.
“Aamir Khan released a mobile game called E-Nuggets, which was made to trick people. Also, ED said in its statement that after getting a lot of money from the public, withdrawals from the app were suddenly stopped for some reason.
The investigating agency also said that the accused had deleted all data and profile information from the App’s servers.
In the case Of BTC accused of fraud, The investigation agency said that Khan opened a fake account on WazirX, bought crypto assets, and sent them to Binance. This is what the accused chose to do to hide the money.
“The balance of said transferred cryptocurrencies i.e. 77.62710139 Bitcoins [equivalent to USD 1573466 (Rs 12.83 Crore approximately)] at Binance crypto exchange has been frozen,” the ED said.
Federal Bank, a national commercial bank, filed a FIR at Kolkata’s Park Street police station on February 15, 2022. The bank said that it thought Aamir Khan’s gaming app was being used to launder money. But it was said that the local police did not care about the case.
The Union Finance Ministry directed ED to investigate the scheme and its suspected links to money laundering.
The ED couldn’t find Aamir Khan on September 10, but they did on September 25. After the ED initiated action, the Kolkata Police suspended the investigating officer for not doing more.
In the past few months, the ED has been on the trail of fintech companies, crypto exchanges, and crypto scammers. This is because regulators are getting stricter about what they look for.
If You Want to Learn More About BTC Crime: en.wikipedia.org