ED recovers 268 bitcoins worth Rs 138 crore from Haldwani resident
The Enforcement Directorate (ED) seized 268 bitcoins worth ₹138 crore from Parvinder Singh, a resident of Haldwani, during a raid.Parvinder Singh, along with Banmeet Singh, was running an organization called 'The Singh Organisation' on the dark web that was involved in the sale of d.... and money laundering through cryptocurrency transactions.
The ED's investigation revealed that the illicit proceeds from the d..g trade were converted into digital currency and remitted outside of India. The FBI has already seized digital currency assets worth ₹1,500 crore as part of the joint international operation. This case highlights the increasing trend of global wrongdoers utilizing digital currencies and cross-border money laundering to evade scrutiny from law enforcement agencies.