Global cryptocurrency exchange platform Binance has announced its collaboration with the Enforcement Directorate (ED) in investigating financial frauds.
This has resulted in the arrest of four individuals allegedly linked to an online gaming scam. The crackdown exposed a Rs400 crore alleged fraud associated with the Fiewin gaming app.
According to a statement released by Binance on Wednesday, the company's internal intelligence unit played a pivotal role in assisting the ED in uncovering the Fiewin scam. The gaming platform, which had siphoned off $47.6 million (approximately Rs400 crore) from its users.
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