A significant operation was led by the Enforcement Directorate (ED) in Kolkata against an online gaming app scam called E-Nugget. This app, presented as a gaming platform, targeted users with promises of high returns on their investments. E-Nugget managed to store cryptocurrencies worth $10 million spread across 70 different crypto wallet accounts on major exchanges.

The ED took prompt action by collaborating with these exchanges to block the fraudulent wallet addresses and transfer the obtained crypto assets to the agency. E-Nugget's strategy involved attracting customers with lucrative commission-based games, luring them to invest before disappearing without a trace.

Beyond the cryptocurrency seizure, the ED confiscated assets totaling over 163 crores ($19.5 million), which included cash, cryptocurrencies, account balances, and office space. The investigation that initially raised concerns about the app's investment in digital assets led to the discovery of numerous dummy bank accounts and a significant cash reserve.

The alleged masterminds, Aamir Khan and Romen Agarwal, are now detained thanks to blockchain technology, enabling law enforcement to trace, freeze, and recover the illicit funds. This case highlights the transparency of blockchain technology, countering skepticism surrounding cryptocurrencies as facilitators of illegal financial activities.