Tech

India raids facilities, freezes bank accounts in ongoing Free Fire investigation


India’s financial crimes agency raided the premises of Sea’s Free Fire distributor Coda Payments India as part of an investigation.

In a tweet on Tuesday, the Enforcement Department said it had raided three premises of Coda Payments India with a balance of $8.40 as part of an “ongoing investigation” into distributors and Free Fire, a title New Delhi banned earlier this year. said it had frozen its bank account. One million.

The battle royale game, owned by Southeast Asian giant Sea, had over 40 million of its 75 million global monthly active users in India in January, according to analytics firm App Annie, which industry executives shared with TechCrunch. I was. Sea, which counts Tencent as one of its biggest backers, has also quietly tested social commerce Shopee in India. In March, the sea said so Closure of business in India.

While India has never said it is taking special measures against developers in specific countries, the majority of apps India has banned over the past two years have been developed in China. Chinese giant Tencent, a major investor in Shopee, is one of the few Chinese connections Free Fire has.

This year, the agency announced that Chinese smartphone vendors Vivo, Oppo, Xiaomi, Over $1 billion seized of the capital that the company said it avoided in fraudulent tax calculations.

Law Enforcement also froze more than $8 million in assets from WazirX earlier this year, citing alleged foreign exchange rule violations, and $46 million from Vauld’s local subsidiary, which was said to be from predatory lending firms. Frozen for facilitating “criminal-derived” proceeds.Last month it claimed Cryptocurrency exchange Coinswitch violates foreign exchange laws.



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