Haryana
ED Seizes Cryptocurrencies in Haryana
- 28 Feb 2025
- 2 min read
Why in News?
The Enforcement Directorate (ED) seized cryptocurrencies worth Rs 17.20 crore after conducting searches at six locations in Haryana related to an investment scam.
Key Points
- Seizure of Cryptocurrencies:
- The ED found cryptocurrencies stored in multiple wallets.
- The alleged mastermind, and his associates owned and managed these wallets.
- Officials seized several mobile phones during the searches which contained multiple apps used to access cryptocurrency wallets.
- Basis of the Investigation:
- The probe stems from a First Information Report (FIR) filed by the Haryana Police.
- A victim’s complaint also contributed to the initiation of the investigation.
The Enforcement Directorate (ED)
- The ED is a multi-disciplinary organization mandated with investigation of offences of money laundering and violations of foreign exchange laws.
- It functions under the Department of Revenue of the Ministry of Finance.
- As a premier financial investigation agency of the Government of India, the ED functions in strict compliance with the Constitution and Laws of India.
First Information Report (FIR)
- A first information report (FIR) is a written document prepared by the police when they receive information about the commission of a cognisable offence.
- A cognisable offence is one in which the police can arrest a person without a warrant.
- The term FIR is not defined in the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC), 1973, or in any other law, but in police regulations or rules, information recorded under Section 154 of CrPC is known as First Information Report (FIR).
