The agency investigated the “complex web” of “complex web” transactions performed on “many” crypto wallets and performed to mask the origins and controllers of these crypto wallets. We deployed a team of experts.
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It has been found that many transactions are executed via the “dark web” and render transactions untrackable, sources said.
The agency has strove terrestrial intelligence to track “many” web wallets, zero-on wallets, and zero facilities where digital devices including the above cryptocurrencies are available. Sources told PTI that cryptocurrency worth Rs 1,646 has been seized and transferred to the agency’s special crypto wallet, making it the largest digital asset ever seized in a megamoney laundering investigation. During its investigation, the agency discovered that the founders of BitConnect, an unincorporated organization, “creating a global network of promoters and rewarding promotion efforts by paying them a fee.” .
BitConnect, among other things, represents the deployment of ownership “volatility software trading bots” (trading bots) to deposit funds in the form of cash and bitcoin to investors and “induce” them to lending programs. Masu. They claimed that they use investor funds to generate as much as 40% per month, ED found.
The promoter posted a “fictional” return on the BitConnect web portal. This reached an average of 1% per day, or about 3,700% on an annual basis, sources said.
These claims were “fake” because they knew that BitConnect had not deployed investors’ funds to rather trade investors’ funds with trading bots. Sources say they control digital wallet addresses.
The agency had previously attached assets worth Rs 489 in this case.
Sources said foreigners have also “invested” in Bitconnect, with the “major defendants” being investigated by US federal authorities.
