Indian law enforcement agency designates CoinDCX to manage seized nearly $200 million worth of digital assets

According to Cryptonews, the Indian Enforcement Agency (ED) has designated cryptocurrency exchange CoinDCX to manage the seized digital assets, including two major fraud cases involving GainBitcoin and BitConnect, totaling nearly $200 million. In the GainBitcoin case, CBI conducted searches in multiple locations and seized approximately $2.88 million worth of cryptocurrency, related documents, and devices. In the BitConnect fraud case, ED seized approximately $198 million worth of digital assets last month, as well as confiscated cash, vehicles, and electronic devices. CoinDCX stated that it will provide a secure custody infrastructure for these seized assets and implement high-level security protocols to ensure asset protection.