Binance has assisted India’s Enforcement Directorate (ED) in investigating a massive $47.6 million gambling scam involving the Fiewin app.
The exchange provided critical intelligence that allowed authorities to track the fraud network through its digital wallets, part of Binance’s forensic work to combat financial crime using its Financial Intelligence Unit.
With the cooperation of Binance, ED proceeded to arrest four individuals involved.
This is the second major operation between Binance and ED in a joint operation that froze millions of dollars in a money laundering case in 2022, highlighting the importance of international cooperation in tackling cryptocurrency-related crimes.
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