ED registers PMLA case in Rs 336 crore Crypto fraud

The Enforcement Directorate (ED) on Monday registered a money-laundering case under the Prevention of Money Laundering Act (PMLA) and searched locations linked to an alleged Rs 336 crore cryptocurrency fraud targeting a Dutch national.

The Bengaluru office of the agency carried out raids on July 18 and 19, focusing on over-the-counter (OTC) crypto Tokens involved in the case, including MultiverseX, Kava, BEAM, GRASS, SUI, VANA, and AGLD, among others.