Online betting: ED raids against WinZO, Gamezkraft in Delhi, Bangaluru
Searches reveal promoters' crypto wallets, indicating suspected money laundering through cryptocurrencies
The corporate offices of the two gaming operators along with residences of their CEOs, COOs and CFOs are being covered in the action. File Photo
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The Enforcement Directorate (ED) on Tuesday carried out searches at multiple locations in Delhi and Bengaluru as part of an investigation into two online gaming companies, namely Winzo and Gamezkraft (pocket52.com), official sources said.
A total of 11 premises were covered in the raids, including five in Bengaluru, four in Delhi and two in Gurugram (Haryana), they said.
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The corporate offices of the two gaming operators along with residences of their CEOs, COOs and CFOs are being covered in the action.
According to FIRs filed by the victims, these gaming companies had allegedly manipulated the algorithm of the app putting the gamers at a disadvantage.
During the search, it was discovered that the promoters owned crypto wallets, indicating suspected money laundering through cryptocurrencies.
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