ED raids mobile app offices dealing in cryptocurrencies

The Enforcement Directorate (ED) said that they recently carried out search operations in Delhi, Gurugram (Haryana), Mumbai, Bengaluru and Salem (Tamil Nadu) in respect of a probe relating to the misuse of App-based token, named ‘HPZ’ and other similar applications by various entities.

The case was lodged on the basis of an FIR registered by the Cyber Crime Police Station, Kohima, Nagaland, against HPZ token & others.

The official said that HPZ Token was an App-based token which promised users of high returns against ‘investment’ in mining machines for Bitcoin and other cryptocurrencies.