The Enforcement Directorate had conducted searches and frozen account balances amounting to ₹9.82 crore of various "Chinese-controlled entities" held with payment gateways in connection with the alleged misuse of an app-based token named "HPZ" and other similar applications.
The agency has identified the entities as Comein Network Technology, Mobicred Technology, Magic Data Technology, Baitu Technology, Aliyeye Network Technology India, Wecash Technology, Larting Private Limited, Magic Bird Technology and Acepearl Services Private Limited.
Also Read | 11 held for duping 5L investors of ₹150 crore via mobile apps
The ED probe is based on a First Information Report registered by the Cyber Crime police station in Nagaland's Kohima against HPZ token and others. The app-based token promised huge returns against investments in the crypto-mining machines for Bitcoin and other digital currencies.
The agency found that Comein Network Technology and others, in service agreements with various non-banking financial companies, were also allegedly operating multiple suspicious online loan and other apps, such as Cashhome, Cashmart and Easyloan, and received funds from the public.
In the same case, the ED had earlier frozen bank/virtual account balances totalling ₹46.67 crore during the searches on September 14. The total amount has now gone up to ₹56.49 crore.
