- The Enforcement Directorate of India has pronounced the multi-year campaign against the Kolkata “E-Nugget” scam to be successful. The operation has led to the confiscation of cryptocurrency and cash as well as the mastermind’s arrest.
- Many phony accounts were found during investigations, which also resulted in the freezing of digital assets at different cryptocurrency exchanges, which were then moved to the ED’s wallet.
In the E-Nugget case, ED claims a successful operation.
Last Monday, the Directorate of Enforcement (ED) in India declared that it had successfully combated “a major online gaming app scam known as E-Nugget.” In 2022, the ED started looking into the scheme.
E-Nugget presented itself as a profitable gaming platform, luring customers in with the prospect of large commissions and real-money games that would yield significant returns on investment. After the investment, the app shut down, leaving customers trapped and unable to access their money.
According to the release, the scheme started to fall apart in 2022 when the ED revealed it and found that some of the ill-gotten gains had been placed in digital assets. Almost 2500 mule/dummy bank accounts were found throughout the investigation, and they were examined. Cash worth about Rs. 19 crore was found during the searches. Aamir Khan, the scam’s mastermind, was also apprehended and is currently being held in custody by the law.
The notice goes on to say that ED requested information from multiple exchanges, including Binance, Zebpay, and Wazirx, regarding a number of cryptocurrency wallets.
The Indian authority emphasized that these digital assets were then acquired by ED and moved into the ED digital wallet.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
