{"id":16273,"date":"2025-03-05T13:01:59","date_gmt":"2025-03-05T13:01:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16273"},"modified":"2025-03-05T13:01:59","modified_gmt":"2025-03-05T13:01:59","slug":"indian-authorities-select-coindcx-to-oversee-seized-digital-assets","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16273","title":{"rendered":"Indian Authorities Select CoinDCX To Oversee Seized Digital Assets"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">India\u2019s Enforcement Directorate (ED) has officially assigned CoinDCX to manage seized digital assets. The country\u2019s financial crime regulator expects CoinDCX to provide a robust custody infrastructure to store and manage crypto assets confiscated during investigations into financial crimes.<\/span><\/p>\n<p>Commenting on the development, CoinDCX co-founder Sumit Gupta said, \u201cTo ensure the highest level of protection for seized assets, we have deployed a specialized team armed with advanced security protocols.\u201d<\/p>\n<p>\u201cCoinDCX has been cooperative and assisted in the seizure process, providing valuable support in the investigation led by the ED,\u201d said Parneet Kumar, Assistant Director at the ED. \u201cThe company has worked closely with the directorate, ensuring compliance with all legal requirements and facilitating the opening of the custodian account on urgent basis.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Indian law enforcement picks CoinDCX for seized crypto custody<\/p>\n<p>India\u2019s Enforcement Directorate (ED) has selected CoinDCX to manage seized cryptocurrency assets, ensuring secure custody during financial crime investigations. CoinDCX will implement advanced security <a href=\"https:\/\/t.co\/iIph0BIViL\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/iIph0BIViL<\/a><\/p>\n<p>\u2014 CoinsCapture (@CoinsCapture) <a href=\"https:\/\/twitter.com\/CoinsCapture\/status\/1897230993247101088?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2>Indian Government Leverages Private-Sector Expertise<\/h2>\n<p><span style=\"font-weight: 400\">India\u2019s regulatory body is leveraging private-sector expertise to address the challenges posed by cryptocurrency fraud. <\/span><\/p>\n<p><span style=\"font-weight: 400\">CoinDCX has already demonstrated its commitment to compliance by assisting the ED in previous investigations and facilitating the opening of custodian accounts on an urgent basis.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The ED\u2019s collaboration with CoinDCX comes in the wake of several high-profile cryptocurrency fraud cases that have rocked India. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Two notable examples are the GainBitcoin and BitConnect scams, which collectively resulted in the seizure of digital assets worth nearly $200 million.<\/span><\/p>\n<p>The ED seized digital assets worth approximately INR 1,646 crore ($190 million) in a Prevention of Money Laundering (PMLA) case, linked to the BitConnect Ponzi scheme.<\/p>\n<p><a href=\"https:\/\/enforcementdirectorate.gov.in\/sites\/default\/files\/latestnews\/%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A5%87%E0%A4%B8%20%E0%A4%B5%E0%A4%BF%E0%A4%9C%E0%A5%8D%E0%A4%9E%E0%A4%AA%E0%A5%8D%E0%A4%A4%E0%A4%BF-%20%E0%A4%B8%E0%A4%B0%E0%A5%8D%E0%A4%9A%20%E0%A4%AC%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A4%A8%E0%A5%87%E0%A4%95%E0%A5%8D%E0%A4%9F%2015.02.2025%207.pdf\" target=\"_blank\" rel=\"nofollow noopener nofollow\">According to a press release dated 15 February 2025<\/a>, the ED conducted multiple raids across Gujarat on the 11th and 15th of February 2025. During this raid, they confiscated substantial amounts of cryptocurrency, cash, an SUV, and other digital devices.<\/p>\n<h2>\u201cWe truly believe we are still at the beginning of something huge,\u201d Says CoinDCX Co-Founder<\/h2>\n<p>Today, CoinDCX is valued at $2.3 billion.<\/p>\n<p>\u201cWhen the internet was in its early stages in the 2000s, no one imagined companies such as Google or Amazon would become what they are today,\u201d said Gupta in a <a href=\"https:\/\/economictimes.indiatimes.com\/wealth\/invest\/we-are-still-at-the-beginning-of-something-huge-coindcx-founders-on-the-future-of-crypto\/articleshow\/118702888.cms\" target=\"_blank\" rel=\"nofollow\">4 March 2025 interview<\/a> with local media, as he insisted that CoinDCX is at the beginning of something huge.<\/p>\n<p>CoinDCX has grown significantly since its inception, pointed out Gupta. \u201cToday, we are a team of over 500 employees, with offices across key cities in India, including Mumbai, Bengaluru, and Delhi.\u201d<\/p>\n<p>\u201cLast year, we acquired BitOasis, one of the pioneering crypto platforms of the MENA region,\u201d he added. \u201cWe want to be present in more such crypto-friendly countries.\u201d<\/p>\n<p>Talking about India and\u00a0India\u2019s tech capabilities, CoinDCX believes that India can build technology and products that can match any global level.<\/p>\n<p>India\u2019s trading volume in cryptocurrencies was approximately $1.9 billion in the fourth quarter of 2024. It has been estimated that the Indian crypto market will expand far beyond $15 billion by 2035 despite huge taxes. The country has a large number of young, digitally literate citizens. Therefore, there is a natural inclination towards crypto and other on-chain digital assets.<\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <\/li>\n<p><\/span><span style=\"font-weight: 400\">CoinDCX will provide a robust custody infrastructure to store and manage crypto assets confiscated during investigations into financial crimes. <\/span><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">This partnership represents a milestone for India\u2019s regulatory framework, as it leverages private-sector expertise to address the challenges posed by cryptocurrency fraud. <\/span><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/indian-authorities-select-coindcx-to-oversee-seized-digital-assets\/\">Indian Authorities Select CoinDCX To Oversee Seized Digital Assets<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s Enforcement Directorate (ED) has officially assigned CoinDCX to manage seized digital assets. The country\u2019s financial crime regulator expects CoinDCX to provide a robust custody infrastructure to store and manage crypto assets confiscated during investigations into financial crimes. Commenting on the development, CoinDCX co-founder Sumit Gupta said, \u201cTo ensure the highest level of protection for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16273","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16273"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16273\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}