India's Enforcement Directorate (ED) has taken a giant leap in battling cryptocurrency fraud. Following a high-profile scam linked to the gaming app E-Nuggets, the ED, grappling with the complexities of seizing digital assets, created its own cryptocurrency wallet. This strategic shift allows them to securely manage and control nearly $12 million in crypto assets, previously held in multiple exchanges. With this new tool, the ED is set to revolutionize how they handle crypto crimes, bypassing potential obstacles from uncooperative foreign exchanges and aiming to safeguard and potentially liquidate these assets efficiently.
Officers of the Enforcement Directorate (ED) had little to no indication in 2021 when they started looking into a scammer who had deceived hundreds of people using a gaming app that the case would significantly alter how they would handle similar cases going forward.
The case, which is related to the gaming software E-Nuggets, started with a complaint made...
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