Indian regulators confiscate $190m in crypto from Bitconnect
Indian enforcement authorities have seized cryptocurrency worth $190 million (Rs 1,646 crore) in connection with a BitConnect investigation.
As per the report by The Indian Express, the Enforcement Directorate (ED) in Ahmedabad — the law enforcement agency responsible for investigating economic crimes, and financial fraud — conducted searches across Gujarat on Feb. 11 and 15.
The ED also seized $16,300 (Rs 13,50,500) in cash, an SUV, and various digital devices.
The investigation falls under the Prevention of Money-Laundering Act (PMLA), following initial cases registered by Surat’s CID Crime Police Station.
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