ED seizes crypto assets worth about ₹ 90 crore in ‘E-Nugget’ case
The Hindu
Enforcement Directorate seizes ₹90 crore in frozen crypto assets linked to E-Nugget money laundering case, arrests mastermind.
The Enforcement Directorate has taken possession of frozen crypto assets worth close to ₹ 90 crore, earlier kept in 70 accounts maintained with Binance, ZebPay, and WazirX. This is in connection with a money laundering case involving online gaming app ‘E-Nugget’, the agency said on Tuesday. The assets have been transferred to the agency’s crypto wallet.
The ED alleges that the E-Nugget app, masquerading as a gaming platform, promised users high returns on investments. Properties worth more than ₹ 163 crore, comprising cash, crypto currencies, account balances, and office space, have been attached, seized, or frozen in the case so far.
Explaining the modus operandi, the agency said: “A series of enticing games were designed for real-money wagering and promised users hefty commissions, the app painted a picture of a golden investment opportunity. However, this facade quickly fell apart once investments were made, with the app going dark and leaving the investors stranded without a way to reclaim their funds.”
The alleged scam was unearthed in 2022 when the ED discovered that a part of the ”ill-gotten gains” were invested in digital assets. “Nearly 2500 mule/dummy bank accounts were identified, and analysed,” it said. Subsequent searches led to the seizure of ₹ 19 crore in cash.
The alleged mastermind of the scam, Aamir Khan, was arrested and is currently in judicial custody. Another accused, Romen Agarwal, is also being held.
The ED initiated the probe based on a First Information Report registered by the Kolkata police alleging illegal activities by Mr. Khan and his associates. Through the app, they collected funds by duping users, abruptly halted money withdrawals, and erased all the user data from the app servers, resulting in substantial financial losses to the victims, it said.
Searches of 66 bank accounts led to the freezing of a further ₹ 2.43 crore.
Sadaoui sparkles as Blasters end losing streak
Andhra Pradesh Sadhu Parishad president urges government to protect temple lands and appoint Hindu employees in temples.
Tamil Nadu leads in open access electricity consumers, buying power directly from private generators through power exchanges.
BJP counters Siddaramaiah's claims, stating election mandate not a "clean chit," alleging Congress corruption and broken promises.
West Bengal Governor embroiled in controversy over unveiling own statue, sparking criticism from political circles.
Increase in men opting for vasectomy in Coimbatore district due to awareness and higher family planning allowance.
Dozens killed in sectarian clashes in northwestern Pakistan, with ongoing violence prompting government intervention and community negotiations.
Celebrating 20 years of Sanghamitra Rural Development Society's impactful work in rural education and healthcare with community support.
Experience the iconic Kadalekai Parishe in Basavanagudi with more stalls, massive footfall, and a plastic-free environment this year.
Blood Donors Club of Madurai Medical College organized 'Uthiram 24' marathon to promote blood donation with 1,513 participants.
NDA government in A.P. neglecting students and education sector badly hit, alleges Jagan Mohan Reddy
YSR Congress Party (YSRCP) president Y.S. Jagan Mohan Reddy has criticised the National Democratic Alliance (NDA) government in Andhra Pradesh, accusing it of neglecting all sectors and not paying the fee reimbursement benefits to the students.