ED Hunts Puniwala in Surat Bitcoin Scam, Tracks 20,000 Bitcoins

SURAT: The Enforcement Directorate (ED) is intensifying its hunt for an alleged key operative in a multi-crore cryptocurrency scam involving Divyesh Dhansukhlal Darji, as investigators attempt to...

An ED team led by Deputy Director Vikas Kumar conducted searches at multiple locations in Surat to locate Puniwala, who is suspected of helping Darji acquire Bitcoin and DKD coins, facilitate their sale and transfer proceeds overseas. Puniwala and his associates have reportedly gone underground following Darji’s arrest.

A key focus is establishing the present ownership, location and market value of around 20,000 Bitcoins allegedly purchased by Darji over a decade ago. Investigators are also searching for an Electrum wallet and three Ledger hardware devices believed to hold access to digital assets.

According to sources, Darji allegedly approached Puniwala, who is suspected of having an international network spanning China, the United States and Dubai, to facilitate his entry into cryptocurrency trading. Puniwala allegedly procured wallets from the US and supplied three Ledger devices used to access digital assets.

The ED is examining how the Bitcoins were acquired between 2016 and 2021, who facilitated their sale and which accounts received the proceeds.