India, Dec. 5 -- The Enforcement Directorate (ED) has sought legal assistance from authorities in the United Arab Emirates (UAE) to attach assets worth AED 28.4 million ( Rs.68.66 crore) that were allegedly bought using money diverted from a bitcoin-based Ponzi scheme worth Rs.6,606 crore perpetuated through a Singapore-based firm, Variable Tech Pte Ltd.

The assets, located in the UAE, are commercial properties in prominent business centres that the ED had provisionally attached between September 2018 and December 2022, officials said. On November 29, a special court for cases under the Prevention of Money Laundering Act issued a judicial request to UAE authorities, seeking legal assistance as requested by the ED to attach the properties...