The Indian Enforcement Directorate freezes assets of "China-controlled entities" involved in cryptocurrency fraud

According to Chain Catcher news and reported by Forkast, the Indian Enforcement Directorate (ED) has frozen assets of "Chinese-controlled entities" amounting to $1.2 million for allegedly using HPZ Token and applications for crypto fraud.

According to Indian media reports, these companies include Comein Network Technology Private Limited, Mobicred Technology Private Limited, Magic Data Technology Private Limited, Baitu Technology Private Limited, Aliyeye Network Technology India Pvt Ltd, Wecash Technology Private Limited, Larting Private Limited, Magic Bird Technology Private Limited, and Acepearl Services Private Limited. These companies raised funds to operate "suspicious" applications such as Cashhome, Cashmart, and easyloan, and entered into service agreements with certain non-banking financial companies. The Enforcement Directorate (ED) stated that the frozen account assets in this case have reached $6.9 million. (source link)