🚨 India’s Financial Crime Agency Appoints CoinDCX to Manage Seized Crypto Assets
In an effort to strengthen oversight of crypto-related crimes, India’s Enforcement Directorate (ED) has selected CoinDCX, one of the country’s leading crypto exchanges, to manage and safeguard confiscated digital assets.
This decision follows a series of high-profile fraud cases — including GainBitcoin and BitConnect — which led to the seizure of assets worth approximately $200 million.
CoinDCX will provide a secure infrastructure for holding these assets, employing advanced security protocols to ensure their protection. Sumit Gupta, Co-founder of CoinDCX, emphasized that a dedicated team will maintain the highest standards of security for the managed funds.
Previously, seized assets were held in wallets managed by other exchanges such as ZebPay and WazirX. The partnership with CoinDCX reflects India’s growing intent to leverage private sector expertise and cutting-edge technology in its fight against crypto-related financial crimes.
With the rising popularity of digital assets in India, regulators are intensifying efforts to protect investors and prevent illegal activities — aiming to ensure transparency, accountability, and integrity in the handling of seized cryptocurrencies.
