ED Cracks Down on WinZO Gaming: Massive Fund Freezes Amidst Scandal

The Enforcement Directorate has conducted searches at the accounting firm of WinZO, a real money gaming app, freezing assets worth Rs 192 crore. Accusations against WinZO include illegal practices involving bots and AI, misleading players. Founders Saumya Singh Rathore and Paavan Nanda were arrested, adding to the ongoing scrutiny.

In a significant development, the Enforcement Directorate (ED) has intensified its probe into WinZO, an online gaming app, by freezing assets worth Rs 192 crore. This move follows a series of raids conducted on the company's accounting firm and subsequent arrest of its founders.

The ED's investigation alleges that WinZO engaged in unscrupulous activities, deceptively using bots and artificial intelligence to manipulate games. This, according to the agency, led to substantial illicit gains misrepresented as player earnings.

The federal probe has also uncovered a concerning trend of funds being moved overseas, disguised as investments. This ongoing unraveling of financial misdemeanors has put a spotlight on the real-money gaming sector's regulatory challenges.

(With inputs from agencies.)