PANews reported on March 5 that according to Cryptonews, the Enforcement Directorate (ED) of India has designated the cryptocurrency exchange CoinDCX to manage the seized digital assets, including two major fraud cases, GainBitcoin and BitConnect, with a total amount of nearly $200 million involved. In the GainBitcoin case, the CBI conducted searches in many locations and seized cryptocurrencies and related documents and equipment worth about $2.88 million. In the BitConnect fraud case, the ED seized digital assets worth about $198 million last month, and also confiscated cash, vehicles, and electronic equipment.

CoinDCX said it will provide secure custody infrastructure for the seized assets and implement high-level security protocols to ensure asset protection.