India's financial crime regulatory agency designates CoinDCX exchange to manage seized cryptocurrency assets

according to Cryptonews, the Enforcement Directorate (ED) of India has chosen the cryptocurrency exchange CoinDCX to manage the seized digital assets. As part of the collaboration, CoinDCX will provide a secure custody infrastructure to store and manage the confiscated assets.

Indian authorities have intensified their enforcement against cryptocurrency fraud, seizing assets worth nearly $200 million in the GainBitcoin and BitConnect scams.

Assistant Director of the Enforcement Directorate, Parneet Kumar, stated that CoinDCX has cooperated during the seizure process, assisting the ED in the investigation and ensuring compliance with all legal requirements.