Crypto Assets Seized as ED Cracks Down on “E-Nugget” Gaming Scam App
Crypto Assets Seized as ED Cracks Down on “E-Nugget” Gaming Scam App
The widely famous government agency, ED now successfully cracked down on E-Nugget, a fake gaming app that was looting unsuspecting players with hefty amounts of money.
Kolkata: A successful operation by the Enforcement Directorate (ED) in Kolkata has been carried out against “E-Nugget,” a fake online gaming application that was misleading customers by offering remarkably large returns on investments. The ED claims that although this software posed as a safe gaming environment, its true goal was to take money from gullible users.
How the Scam Works?
E-Nugget made its money by seducing individuals with the promise of quick cash. After downloading the software, which was free, users were urged to add money to their wallets that were built inside the program. The allure was in the prospect of earning a big fee, reportedly between three and four thousand percent, just for maintaining money in the app and playing its games.
Soon after they began using the program, consumers started to get large prizes sent straight into their bank accounts. The early success was a ruse to increase confidence and promote more deposits.
The fact that the app offered games, such as online lotteries, appeared real and gave players the chance to win money further persuaded them of its legitimacy.
But the plan took a dishonest turn when all withdrawal alternatives were suddenly disabled after a while. Moreover, consumers discovered that the software developers had gathered personal information and bank account information.
The fraudsters next deleted all server application information and admin contacts. Therefore, erasing all evidence of their activities and depriving the users of any means of recovering their invested money.
Current Events
The ED has said in a post on X that it has intercepted the cryptocurrency assets accumulated through this fraud. Since these assets are now safely stored in the ED’s Crypto Wallet, the scamsters cannot access or move them anymore. Before making any investments in any internet site that offers remarkably large profits, users are urged to proceed with caution and due research.
This event also emphasizes the growing responsibility of financial and digital regulators in thwarting online fraud and fighting cybercrime.
About The Author:
Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM. Naager entered the field of content in an unusual way. He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts. He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field. In the bottom line, he frequently writes for Craw Security.
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