WinZO's Algorithm Scandal: A Game of Deception Unfolds
The ED has arrested WinZO co-founders for allegedly cheating players through a deceptive algorithm, leading to illicit funds worth Rs 177 crore. The proceeds were reportedly laundered to foreign subsidiaries. Despite their cooperation claim, a court remanded the co-founders in ED custody.
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- India
The Enforcement Directorate (ED) has alleged that online gaming company WinZO used a 'deceptive' algorithm to cheat genuine players, amassing illicit funds of Rs 177 crore within a year.
On Wednesday, ED arrested the co-founders, Saumya Singh Rathore and Paavan Nanda, under the Prevention of Money Laundering Act in Bengaluru.
A court rejected their plea, granting the ED custody, while investigations continue into the company's alleged unethical practices and money laundering activities.
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