Cryptocurrency exchange Binance uncovers fraudulent project in India
Cryptocurrency exchange Binance has assisted law enforcement agencies in India in exposing a fraudulent project that masqueraded as the E-Nugget gaming platform. This project lured users with promises of quick profits from cryptocurrencies, only to leave them unable to access their accounts and losing their funds.
Following the investigation, the Indian Enforcement Directorate (ED) reached out to Binance for help in tracking the stolen funds. The exchange’s experts successfully identified the criminals’ cryptocurrency wallets, blocked them, and returned the funds to the authorities.
The total amount of blocked assets was $19 million, and the investigation also revealed several thousand fake bank accounts containing over $2 million.
