Official sources said the Enforcement Bureau (ED) seized its largest cryptocurrency of all time, worth Rs 1,646 crore, part of a “major” money laundering investigation into fraudulent investment schemes.
The FBI’s Ahmedabad office also seized Rs 135.5 lakh in cash, an SUV and many digital devices, after it conducted a brand new search on Saturday involving cases related to “fraudulent” and Unregistered and sold securities. Investment form through the “BitConnect Loan Program”.
ED case filed under the Prevention of Money Laundering Act (PMLA) originated from a bureau of the Surat Police Crime Department, which claimed that the case was a so-called fraud between November 2016 and January 2018 (revoked) back).
The agency deploys a team of tech-savvy experts who examine the “complex networks” of “complex networks” that are carried out in “numbered” crypto wallets to reveal the origins and controllers of these crypto wallets.
Sources said many transactions were found to be conducted through the “dark web” to make transactions untrackable.
They said the agency tracked “number of” online wallets and collected ground intelligence to zero in the wallet, as well as places where digital devices containing the aforementioned cryptocurrencies are available.
Sources told PTI that the seizure of cryptocurrency worth Rs 1,646 crore and transferred to the agency’s special crypto wallet, making it the largest giant money laundering investigation ever for the capture of virtual digital assets, but is still in progress.
During the investigation, the agency found that the founders of BitConnect, a non-incorporate organization, built a “global network of promoters and rewarded their promotional work by paying them commissions.” In order to “tempt” investors to cash and The deposit of funds in the form of Bitcoin, which is included in the so-called loan plan, BitConnect said, among other things, it will deploy the so-called proprietary “volatility software trading robot” (trading robot) (trading robot) they claim, Investor funds will be used to generate a 40% monthly return.
The promoters posted a “virtual” return on the BitConnect website, with the network competing at an average of 1%, about 3,700%.
These claims are a “fake” because the defendant knows that BitConnect is not trading through its so-called trading robots, but rather transfers the funds to “secretly” investors’ funds and provide benefits to their own employees. Sources say digital wallets solve the problem that is controlled by them.
The institution has attached assets worth Rs. In the past, it was 4.89 million in this case.
Foreign nationals have also made “invested” in BitConnect, and the “main defendant” of U.S. federal authorities are under investigation, sources said.
(This story has not been edited by Tech Word News’s staff and is automatically generated from the joint feed.)
