Intensifying its action against cryptocurrency having direct links with the Chinese loan apps harassing Indian nationals, the Enforcement Directorate has carried out searches in 16 places in 9 cities including Mumbai and Pune. The raids were carried out at banks and offices of payment gateways involved in the illegal loan apps scam. The agency has seized Rs 46.67 crore in different virtual accounts. According to ED, the agency carried out the raids in connection with a money laundering case based on an FIR registered by Cyber Crime Police Station, Kohima, Nagaland.

The ED issued a statement saying, “The raids were conducted in Delhi, Ghaziabad, Mumbai, Pune, Lucknow, Gaya at 16 premises of banks/payment gateways in connection with an investigation related to the app-based token system named HPZ and related entities.”